October 23, 2021

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8 Causes Why You Ought to Not Be an Entrepreneur


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Opinions expressed by Entrepreneur contributors are their very own.


Being an entrepreneur looks as if enjoyable, proper? 

It’s about being whisked away on non-public jets, making thousands and thousands simply months after launching your corporation and posting memes about the way you ”Like to hustle and are #killingit!” 

…Unfavourable. 

Selecting the trail of entrepreneurship is selecting a darkish, bumpy, twisted highway, the place on the finish a prepare is silently dashing proper at you with its lights off. 

Individuals discuss lots about how superb it’s to be an entrepreneur, however they usually omit the uncomfortable components — aka the chilly onerous reality. 

In life, realizing the explanations to not do one thing will be simply as useful as realizing the explanations to do them. 

So within the spirit of retaining issues actual, and to assist put issues into perspective for any budding entrepreneurs on the market, listed below are eight the explanation why entrepreneurship may not be for you. 

1. You suppose Instagram is actual life

Watching tales of personal jets, lavish holidays, fancy meals and Lambos is cool, however that’s not actual life for many entrepreneurs. 

Should you consider that’s what entrepreneurship entails, then you definately’re in for a soul-crushingly impolite awakening. 

I’ve seen, firsthand, entrepreneurs on Instagram who’ve taken “faux it until you make it” to extremes. 

Each actual enterprise, and the entrepreneur behind it, is confronted with day by day hair-pulling struggles, gut-wrenching twists and deathly pitfalls. Most individuals, nonetheless, aren’t eager on exhibiting you the downfalls and the unhealthy instances that occur behind the scenes. 

Associated: Do You Have What It Takes to Be a Serial Entrepreneur?

2. There are not any scapegoats

When issues go improper (they usually inevitably will), it’s 100% on you and also you alone. The whole lot is your fault. It’s simply a part of the gig. 

After we launched our first tech product years in the past, it crashed as a result of an inflow of keen customers. It was my fault that it crashed. Positive, technically it was a collective effort from the engineers, designers and product individuals … however it was my firm and my product, so it was my fault. 

We acquired tens of 1000’s of scathing messages from pissed off customers, all inside just a few hours time. I used to be pressured to troubleshoot in actual time and put collectively a technique in an effort to repair the issue on each the engineering and buyer help fronts. There’s no supervisor, supervisor, director or ‘head of’ something to look to when issues go horribly improper. Backside line: You’re accountable. You higher put in your problem-solving cap and determine it out. 

3. Weekends don’t exist 

“No days off” is an actual factor. Should you dwell for the weekend, entrepreneurship isn’t for you. There’s no such factor as ‘trying out’ at 5pm on Friday and ‘checking in’ 9am on Monday. You by no means checkout. Ever. That is your life — Each. Single. Day. What’s the distinction between a Tuesday and Saturday for me? Not a lot. I don’t consider in burning your self out — that’s not helpful to anybody … however I do consider in all the time staying up to the mark. I take into consideration and cater to my enterprise one year a 12 months. Should you can’t wrap your head round that idea, keep put doing what you’re doing. 

Associated: Do You Have What It Takes to Change into a Millionaire?

4. You don’t have thick pores and skin 

Putting out by yourself is horrifying and never everybody will agree along with your determination — together with and particularly your family and friends. 

Should you permit these damaging opinions to sway you and simply affect your selections earlier than you’ve even gotten began, you’ll have an impossibly troublesome time operating a enterprise. You’ll should make tons of of business-defining choices on daily basis, so for those who continually second-guess your self based mostly on different individuals’s opinions, you’ll find yourself depressing. 

I’ve realized to develop extremely thick pores and skin. From being informed my concepts are too far-fetched, getting tons of of rejections from buyers, to being informed that one thing was not attainable for me to do. That stuff simply rolls off my again now. Be maniacal about what you’re constructing and all the time consider in your self. 

5. The phrase ‘sacrifice’ isn’t in your vocab 

I’m not speaking about sacrificing your weekly $35 boxing class; that’s simple.

I’m speaking about promoting your whole belongings, being late on hire, forgoing all holidays and holidays, by no means hanging out with your folks and placing each final penny you will have into what you’re constructing. 

Within the early days, I bought my garments, footwear and furnishings. I missed paying my hire (greater than as soon as) and I had my checking account go into the negatives. I sacrificed EVERYTHING not realizing if what lies forward will likely be price it. 

I’m not distinctive in any means. These are issues that many entrepreneurs have needed to sacrifice after they first obtained began. The craziest half is which you can sacrifice all of that and nonetheless not make it. So, are you down for a spherical of Russian roulette? 

6. Participation trophies don’t exist 

You don’t get pats on the again for exhibiting up, doing all your job and efficiently maneuvering by means of the ups and downs. That’s the naked minimal anticipated of you. I seen early on that a number of the most profitable individuals I ever met had a peculiar quirk about them. They spent an extremely quick period of time celebrating their wins. By the point the champagne cork hit the bottom, they have been already on to the subsequent factor. A few of them didn’t even pop the champagne… 

Should you require fixed approval and validation for the work you do, or for those who get simply discouraged and unmotivated when individuals aren’t telling you that you just’re nice, hold it shifting. You don’t get gold stars for doing all your job as an entrepreneur. Fairly frankly, you shouldn’t get gold stars wherever for doing the naked minimal. 

7. You crave safety and stability 

These are two issues which can be positively NOT assured. 

Being an entrepreneur means there isn’t any security web and also you don’t know if tomorrow will likely be superb, or if s*** will hit the fan. You’re strolling a tightrope 100ft above a volcano that may erupt at any time. I’ve been by means of a pandemic, powerful competitors, lack of funds and there was no different means out however ahead. It’s all or nothing. You inherently tackle large dangers by happening this path, so ensure you can deal with the inescapable unpredictability. 

8. You solely care about getting wealthy 

You received’t final lengthy if that’s why you selected to be an entrepreneur. 

It is advisable to actually need to create one thing nice for individuals and that you must be keen about what you do. You may go years earlier than putting gold, so that you higher consider in what you’re doing.

I went 4 years with out getting a paycheck from my firms, in order that I may hold as a lot of the cash in my companies, for so long as I presumably may. Ultimately, legal professionals informed me that I’m breaking the regulation by not getting paid as an worker of my firm and strongly really helpful that I pay myself. I reluctantly took a small wage. 

I’m at present the least paid individual in my total firm. I do know that received’t be the case eternally, however I do know that my wage is the least necessary factor at this very second. All of that’s to say, I do not do any of this only for the cash and neither do you have to. Should you work onerous to be the perfect at what you do and produce worth to individuals’s lives, the cash will ultimately comply with. 

If none of those eight causes scared you, then…Congratulations! You made the reduce.

Associated: Do You Have What It Takes? 5 Mushy Abilities That You Want In 2020

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