More and more people are pouring into the arena of business to earn the right to call themselves entrepreneurs, but how many of them stay in the game and produce a thriving business?
The life of an entrepreneur can sound insanely glamorous from the outside. Right from setting up your own schedule to creating your own rules, it can be incredibly alluring. But what most people fail to understand is that- the overnight success they see has often taken years of hard work, sleepless nights, multiple rejections, going bankrupt and a lot more.
Yes! The entrepreneurial lifestyle does offer many perks. It’s exciting, it’s creative, and you can potentially create products or services that can have a positive impact on the world. However, being an entrepreneur isn’t always easy. You’ll encounter plenty of obstacles along the way, and maintaining motivation day in and day out can be tough.
We believe that the incredible benefits of entrepreneurship make the harder parts worthwhile. That having been said, there are a few things we wish you’d know if you are on the path already or thinking of starting something on your own. Spilling the beans, not to scare you about the flip side but to show you what it really takes to build that dream of yours because if it were easy everyone would have done it. Isn’t it?
IT TAKES IMMENSE HARD-WORK
Being an entrepreneur takes plenty of hard work and discipline. As an entrepreneur, you’re responsible for forging your own path. This can require a lot of legwork, research, and often includes plenty of ups and downs.
You’ll likely work harder than you ever have in your life, log more hours than you ever would in a day job, and will have a much higher level of accountability. But for entrepreneurs who are passionate about what they do, it’s worth the effort.
YOUR FAMILY AND FRIENDS WON’T UNDERSTAND YOUR JOURNEY
"You're an entrepreneur, so that means you're un-employed?" or "Oh that's nice." are some of the many reactions you will get from close friends, family members, and others over the course of starting your company. Even if you achieve milestones that are worthy of praise (customers, fundraising, new traffic levels, press,etc.) and denote success in the entrepreneurial world, people still won't understand what you do. Unless you build one of the few consumer success stories that come around every few years, things probably won't change here.
YOU MIGHT NOT MAKE MILLIONS WHEN YOU START
If you got into entrepreneurship first and foremost for the money, then you are in the wrong business. Sure you may one day sell your company, but that day is probably far far away. Even then, there are usually earn out clauses, vesting still intact, and a whole lot more. Even if you raise a good chunk of cash, your money is better spent on hiring the best talent than paying yourself a higher wage. There's nothing wrong wanting to
make money, but in the beginning it's going to be rough. You will make less than most of your friends, especially the ones doing the "normal" paths of things like finance. It's a litmus test in its finest form though.
OVER NIGHT SUCCESS DOESN’T REALLY EXIST
We are gonna break that myth for you. If you ever want to start something thinking you will become an overnight success or the one day sensation and make millions – then it surely has to be a bank robbery! Because all the business that have inspired you to start your own have taken years to reach to where they are right now. So get that myth out of your head!
THERE ARE FORCES OUTSIDE YOUR CONTROL
Last, but not least, you have to understand that you cannot control everything in the universe. But, you don't let this make you quit. It's like a roadblock on the way to a concert, sports game, or party you want to get to. You may have to sit in traffic or take an alternate route, but as long as you are determined to get there, you will end up at the event. Remember - BRICK WALLS ARE THERE TO SHOW YOU HOW BAD YOU WANT SOMETHING.