#158 Become An Entrepreneur Without Quitting Your Job with Patrick J. McGinnis

A Millennial Mind

In this episode of Millennial Mind I sit down with Patrick J. McGinnis, the originator of the term 'FOMO' (Fear of Missing Out).

Patrick shares his journey of coining 'FOMO' and discusses how it has evolved, particularly in the era of social media. The conversation then shifts to entrepreneurship, where Patrick introduces the concept of the '10% entrepreneur', detailing how individuals can invest their time, money, and expertise into entrepreneurial ventures without fully letting go of their day jobs. The discussion covers the importance of understanding business, knowing the people, adding value, and learning through experience. Patrick's insights provide a valuable blueprint for aspiring entrepreneurs on how to diversify their income streams and build wealth strategically.

00:00 Introduction to Millennial Mind

00:18 The Origin of FOMO

04:03 The Impact of FOMO and Social Media

06:28 Mental Health and FOMO

07:44 The Concept of JOMO

11:30 Comparison and Gratitude

16:29 FOMO in Business and Entrepreneurship

17:42 The 10 Percent Entrepreneur

26:53 Types of 10 Percent Entrepreneurs

28:44 Identifying Your Skills and Strengths

34:50 Leveraging Your Network for Opportunities

37:08 Crafting the Perfect Elevator Pitch

41:15 Evaluating Investment Opportunities

46:48 Balancing Multiple Ventures

48:44 The Importance of Patience and Partnership

51:37 Final Thoughts and Takeaways

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