Summary of the Key Points
This conversation revolves around two central issues: first, why some sports stars succeed in starting businesses (such as Messi and Ronaldo) while others fail (like Zou Shiming); second, whether it is reasonable for ordinary people to prefer stability over entrepreneurship and their growing interest in AI in the stock market. Feng Lun's main arguments include: although athletes have advantages such as self-discipline, resilience, and a sense of discipline, the success rate of starting a business is extremely low (only 3% survive after 10 years), and one must understand market logic to convert these strengths into success; entrepreneurship is a game for the few (only 5% of people are suited for it); it is not negative for ordinary people to seek stability, but rather a wise choice; economic trends can be categorized into three types (rising with fluctuations, stable, or declining), each requiring different strategic responses; in the face of uncertainty, the most reliable approach is to "invest" in oneself—constantly improving one's abilities and knowledge.
Sports Stars and Entrepreneurship: Advantages Despite Challenges
Sports stars seem to have a head start in entrepreneurship: they have money (from professional earnings and savings), connections (the star status), and unique qualities (self-discipline and endurance). But why did Zou Shiming end up selling his house to pay off debts?
- Advantages Firstly: Athletes' self-discipline is ingrained in them—they strictly control their diet and daily routines, and train diligently. This ability to discipline themselves is fundamental for entrepreneurship (many entrepreneurs fail because they indulge their desires). They also endure hardship well, as training is already extremely exhausting. Additionally, they understand the importance of following rules; in competitive sports, outcomes are clear, and this applies to business where laws and financial regulations must be followed.
- Challenges Then: Having advantages does not guarantee cash flow. The essence of entrepreneurship is to solve market problems with products or services, not just having capital. For example, Zou Shiming may not have clearly defined the market for his businesses (such as opening a boxing gym or creating a brand) or hired the right professionals (lawyers, accountants, etc.), leading to wasted investment. More importantly, the success rate of startups is very low—only 3% survive after 10 years, and even stars are not exempt from this rule. Messi and Ronaldo succeeded because they not only had advantages but also chose the right directions (Messi in real estate, Ronaldo with his personal brand) and used professional teams to manage their finances.
Entrepreneurship Is Not for Everyone; Stability Is a Good Choice
Many think that people's lack of interest in entrepreneurship indicates a lack of ambition, but Feng Lun disagrees:
- Entrepreneurship Is for a Few: Only 5% of people are suited for it—they enjoy challenges and risk-taking. Most people are better off pursuing stable careers, working hard, and making small investments once they have savings and a better understanding of the market. This is not passive; it's about being responsible for oneself, as entrepreneurship comes with risks like losing income or accumulating debt.
- Stability Does Not Mean Stagnation: Being stable does not mean stopping personal growth. For example, even in a regular job, one can learn new skills (AI tools, video content creation) to enhance competitiveness and be ready for opportunities.
Economic Trends: Three Types and One Strategy
Feng Lun provides a simple framework for judging economic trends:
- Three Types of Trends and Corresponding Actions:
1. Rising with Fluctuations: Expand boldly or invest (e.g., opening new stores, buying promising stocks).
2. Stable with No Major Changes: Wait and observe before investing.
3. Declining: Sell excess assets quickly and avoid unnecessary risks.
- The Universal Strategy in Uncertainty: Take your time—focus on improving your business (if you own a company) or learn new things (if not). Make decisions only when the situation is clearer.
The Best Investment in an Uncertain Era: Investing in Yourself
With economic volatility, Feng Lun suggests that the most reliable approach is to continuously invest in oneself, just like investing in a fund. This means dedicating time and effort to improve skills and knowledge.
- Learning from Athletes: Even during off-seasons, top athletes stay active (e.g., Kobe learning from nature to improve his running skills, Messi studying tactics and business strategies). Ordinary people can learn new skills or enhance their knowledge (programming, financial management) to be prepared for opportunities.
In Conclusion
Whether a sports star or an ordinary person, don't worry needlessly about uncertainty. Either find the right direction for entrepreneurship or live a stable life while continuously growing. The most important thing is to invest time and money in yourself—this is an investment that never fails.