Ray Blakney is totally crushing it. He’s started and launched 22 profitable companies and exited four of them. He’s on track to build an eight-figure business within the next 36 months. All of this while being married with a child.
He lives in Mexico and also teaches Japanese sword fighting on the side. So, he has his hands full — and the fact that he teaches sword fighting is just another reason why I think he is crushing it in every way.
What I like most about Ray’s story is that he describes himself as an “accidental entrepreneur,” which I have to laugh about — an accidental entrepreneur with 22 companies. More recently he accidentally became a business executive coach because somebody asked him to multiple times before he eventually said yes. He’s also crushing it in the coaching world.
I love Ray’s approach to entrepreneurship and life. After a recent conversation, I had to share everything he shared with me. If you’ve been thinking about making the jump into business ownership but haven’t yet, this one’s for you.
How the “Accident” Happened
Ray says after college he “did what everyone is told to do.” He studied computer engineering and got a job in Silicon Valley for a Fortune 500 company. But, along the way, he always felt like something was missing.
Looking back, he says that he felt that everything was “fine.” Things weren’t bad, but they weren’t good. He was in a place where a lot of people end up feeling stuck — they would like to do something else but are worried about losing what they already have.
A very impactful 72 hours changed everything for Ray.
He found himself at a company Halloween party and couldn’t help but reflect that he didn’t want to come to this same party, with the same people, for the next 40 years. The next day, someone at his company celebrated their 30th anniversary and was awarded with a watch and a plaque — again, something Ray didn’t want to stick around for. Finally, that night, he saw a commercial for the Navy that exclaimed, “If they were to write a book about your life, would anybody want to read it?” At that moment, he realized, no, nobody would want to read his book.
Enough was enough for Ray, and he decided to quit his job to join the Peace Corps. At this point he still didn’t think he would ever go into entrepreneurship — he simply wanted to travel and live overseas.
His original plan? Get some experience, come back and get an MBA, and then work in corporate. Instead, after meeting his wife, the two of them decided to launch a school together. They didn’t have kids at the time and knew they could fall back on family if needed.
And that’s how Ray Blakney became an entrepreneur, accidentally.
Tips for Other Entrepreneurs
Ray has learned a lot after building 22 successful businesses — and adds that he had several unsuccessful ones in between. I had to ask for his top tips for other entrepreneurs, accidental or not.
You don’t need a massive business
Many have this idea that they need to build a huge business with 20 or more employees to have the income they’re after. The truth is, you can probably get what you’re after by yourself, or with just a few employees.
Consider what you need to live and what you’ll need for retirement and then work backward. Countless owners end up growing their businesses past the point of whatever they need, which ultimately leads to stress and burnout.
Keep the end in mind
Along the same lines, always keep the end in mind. Let’s say you just want to earn enough to support your family, and yourself during retirement. A modest business that makes $500k per year in which you can take home $300k is more than enough for most people.
Ray says that the problem here is that lots of folks don’t even plan where they want to end up. He urges you to at least have a goal, whether you hit it or not is inconsequential. But it’s crucial to have one.
You don’t need to be a business person to get into business
There’s no need for fancy credentials — truthfully you need nothing. Ray laughs and says that it’s actually better to not have the credentials because you can figure it out as you go and seek out the right advice.
Don’t be afraid to start
In his work as a coach, Ray often sees new entrepreneurs with a fear of staring because they think they aren’t qualified. So, what causes that inertia?
He says the first thing he sees is analysis paralysis. They don’t know where to begin so they start doing unnecessary things, like writing elaborate business plans and the like. Ray laughs again and notes that he has never made a business plan.
Rather than focusing on talking to potential customers, many budding entrepreneurs get lost in the weeds. As a result, they get stuck in the beginning stages, never reach a single customer, and the business fails before it even starts.
Instead, Ray urges new entrepreneurs to start. Build a website, reach out to customers, see if you have a market fit, and if you don’t go back to the beginning and start again. His final tip? Don’t be afraid of trial and error.
Test things out, test them again, and go back to the drawing board if you have to. Before you know it, you could accidentally become an entrepreneur too.
Photo by Josiah Gardner on Unsplash
This article was written by Neel from MaidThis Franchise, a remote-local franchise opportunity for people looking to escape the rat race and reach financial freedom. Learn more here.
