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 Learn more about your ad choices. Visit megaphone.fm/adchoices