Family Man-Entrepreneur's Dilemma; Moonshot vs 'Boring Business'
Why Catholic Entrepreneurs Should Pursue a Low-Risk Venture and NOT Bet the Farm
Imagine pursuing your entrepreneurial dreams without sacrificing your family's security. For Catholic entrepreneurs, this balance is essential. While many chase big, risky ideas that could change the world, the chances for success in this realm, when rounded up, are zero.
On the other hand, low-risk ventures have a much higher chance of success. Keeping in mind our family responsibilities, let's explore why pursuing a ‘boring business’ that offers clear sight to profitability is a better choice for Faithful Entrepreneurs.
The Silicon Valley method of spend, spend, spend only to approach profitability after a decade or more does not fit with our family responsibilities. I'm not here to tell you to dream small, but I want you to think differently.
Think About Why You Want to Be an Entrepreneur
Do you feel called to start your own business? If so, ask why. Some want to build, some want to make money, and others love the perceived status of running a business. These reasons can get you started, but they shouldn’t be the primary reason.
I believe God has given us all various gifts. We owe it to God, in justice, to use those gifts to advance His kingdom—our earthly mission, so to speak. Of course, our primary duty is to our families. Once those needs are reasonably met, we must move on. For many, starting a business is part of this mission.
Two Types of Businesses
There are two main types of businesses you can start:
Big, Hairy, Audacious, Risky Ideas: These ideas make headlines and movies. Many people want to be the next Mark Zuckerberg.
Practical, Low-Risk Ideas: These use the skills you already have to find a need and fill it. Maybe add a small twist to differentiate, but not so different that you confuse customers. These low-risk businesses reduce the chance of failure and help you care for your family while reaching profitability quickly.
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The Benefits of Low-Risk Businesses
While these businesses might not be as exciting as launching rockets, they offer better benefits for your family. If done well, you can spend more time with your family because you control your schedule. Being an entrepreneur is also like tossing yourself into the ocean of God’s guidance. You rely on him to guide you—bringing you closer to Him. Some level of financial success allows you to better support your community and church. You can also mentor young people in your parish (something I think is severely underrated). So many benefits that give you flexibility in your life.
Most worry a business is too risky, but I’d argue a W-2 job comes with more risk. You’re not as directly tied to the outcome, and you could be laid off at a moment’s notice, upending your life. The perception of security is really an illusion.
My Personal Story
Ever since I was a kid, I wanted to run my own business, inspired by seeing my dad run his custom cabinetry shop. After working in sales for the Knights of Columbus, I realized I needed more than just a job—I needed a challenge. I knew I wanted to run a business, but that’s about all I knew in that confusing time of my life.
I joined a recruitment agency, and after 1.5 years, the business ideas kept coming. Many were good but too risky since I didn’t have a clear path to profitability. Eventually, I decided the right path was to start a business doing what I already knew how to do. A true low-risk business. In December 2023, I decided that would be my next step when the time was right. In April 2024, I took the leap.
God has helped me get here, and things are going well. It’s not as glamorous as some of my other ideas, but it allows me to support my family without too much stress. I am able to attend Mass almost every day, pray with my wife, and spend time with my family.
Next Steps
If you’re thinking about starting a business or have already started one, ask yourself if you’re on the right path. Are you set on something new and different, or are you open to a 'boring business' that gives you the flexibility to become a modern homesteader?
Perhaps this path is better to keep your ego in check. Perhaps it’s a way you can evangelize locally. Perhaps it is what will allow you to start making it to your kids’ soccer games.
The practical, low-risk approach might be the best way to fulfill your business dreams while taking care of your family and community.
Recap
High-risk ventures (moonshots) present a large risk to you as a provider to your family—perhaps a risk incompatible with our responsibility to our families.
Pursuing a ‘boring’ business has many benefits, benefits that benefit our family, our employees, and our communities.
Make sure your motives are in the right place and well-understood.
See ya next time! 👋
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