Do you have what it takes? Challenges of being an entrepreneur
The life of a business owner is far from the glamorous lifestyle everyone envisions. It’s not just about networking, happy hours, and sealing deals with a handshake or a fist bump. It is a different experience that tests you and your resolve to see your dream through daily. Sure, there are many perks—like being the boss and not being tied to a nine-to-five—but there is a lot of blood, sweat, and tears behind the scenes. Owning your own business is a dream come true; however, fair warning, there are some challenges along the way.
The Buck Stops Here
As a business owner, you are “It”. There’s no one else above you to take care of things. You are responsible for making decisions, keeping morale up, and caring for your people—just to name a few things. So, buckle up, buttercup, you’re driving the proverbial bus now. How, where, and when you want things to go is up to you.
Long Days, Sleepless Nights
You’ve slipped off your nine-to-five bonds, but now you are constantly thinking, planning, and running your own operations. Often, there will be 3 am thoughts about how this situation should’ve been dealt with a new concept for a product or a service, or even anxiety about an event or a launch that will wake you up and keep you up during ungodly hours. On top of that, there will be days where you hop from one networking event to another, or your calendar is filled with endless meetings with only a possible 10-minute window to go to the bathroom—if you’re lucky.
No, That’s Not Tax Deductible
Sometimes, when you go out with business associates, friends, or family, there is this misconception that picking up the tab for the meal is a write-off and, therefore, beneficial to you. Because of this, it’s rare for someone to pick up the bill or, better yet, split it with you.
Staying Current is a Thing
Whatever industry or the goods or services you sell, you must constantly monitor trends and be on top of industry news. This is not just about being and staying relevant. This is also for many reasons: compliance, marketing, and technology—to name a few. You must be prepared to subscribe to various platforms, consume industry news, and attend seminars. You may even find yourself flooded by a gazillion Google alerts.
That Constant, Nagging Doubt
There will be days when you question why you are doing what you do, when the constant hustle and grind feel like it’s going nowhere, and when you doubt why you started your business in the first place. Sometimes, the doubt will make you want to quit and not take the next step.
Being a business owner will test you and challenge you to no end. Sometimes, you may want to quit and maybe return to employment. When you overcome these challenges and realize that they are all part and parcel of what you’ve wanted, what you’ve always truly wanted to do, the sky’s the limit. So, go for it! But here’s a friendly reminder: you don’t have to do it alone. Find yourself a dream team to walk this path with you and see where this entrepreneurship journey takes you.
