10 Reasons you Should Forget About Becoming an Entrepreneur
You may be an original thinker or have dozens of ideas on how to improve the world around you with products and services, but that doesn’t mean you’re cut out to be an entrepreneur.
Here are 10 reasons you may want to reconsider. Some may apply and some may not; if those that do are set in stone, I’d say don’t quit your day job. On the other hand, if you can make some adjustments – or if none apply – I say go for it. You won’t find a more rewarding path.
1. You think you won’t have a boss.
You couldn’t be further down the wrong track on this one. Forget having A boss; as an entrepreneur you’re about to have many. The reality is you’re going to have to deliver something to somebody. If you want your business to be a success, you’re going to have to deliver quality services or products in a timely manner and then follow up with good customer service.
The other reality is that the boss in your head can be far more demanding than any you’ve ever worked with in the past. We entrepreneurs tend to expect a lot from ourselves and, if successful, we work hard to meet those demands.
2. You’re not concerned about the money- you just want to follow your passion.
Most successful entrepreneurs will tell you that passion is the most important thing, but hey- let’s get real here. If you’re feeling miserable about not being able to pay the rent or support your family, that can really put a damp blanket on your passion for work.
You’ve got to make a living too and wouldn’t it be nice to make a very good living? You should be equally concerned with making your financial dreams come true, and never let anyone tell you that wanting to make money is a bad thing. It isn’t.
With money, you can live your life the way you want, give back to your community and be of service; you can make a difference in the lives of many, not just yourself.
3. You are only concerned about money; you’re looking to get rich quick.
No self-contradiction intended here, but they are absolutely correct when they say that passion is a must if you want to be a successful entrepreneur. If you don’t love what you are doing, your heart will not be in it and you may not have the drive to succeed.
There is no such thing as a get rich quick solution and it is your passion that will keep you going when times are tough, hours are long and work is hard. There will be days when you spend an excessive amount of time and energy, only to find you’ve made little or no progress- passion will make you keep trying.
4. You think that starting a business will give you better life- work balance.
First, I’d like to go out on a limb here and say that there is no such thing. The reality is, if you love what you’re doing enough to embark on an entrepreneurial path, the likelihood is that work will be very much a part of your life, because it’s FUN.
Granted, once your business has reached a certain level of success you are likely to be in a space where you’ll be able to do the other things you love, and enjoy more leisure time.
And, you are going to have to put in some good old fashioned hard work, most likely for a good long while, before your business gets to a place where you can step away from it and feel confident that it will continue to flow without you.
5. You always choose the same thing at your favorite restaurant because it’s a sure bet.
If you’re not a gambler, you’re not likely to be much of an entrepreneur. Entrepreneurs are notably risk takers; as the old adage goes: “No guts, no glory”.
Entrepreneurs, while smart about the risks they take, must take risks. Hell, just quitting your job, and starting your own ride, is a risk in and of itself. And, you will be called to take risks both large and small throughout the entirety of your entrepreneurial career. If you’re not the gambling kind, you should probably stick to your 9 to 5; keep in mind, though- there are no guarantees there either.
6. You think you can do it all and have difficulty with delegation.
Every successful entrepreneur understands that in order to see success, you’ve got to be able to let go and leverage the time, talents, money, and education of others. No one person can do it all – though there are a few moms out there who come pretty darn close. Seriously, though, every successful business owner knows that they must have the ability to delegate tasks to others in the interest of using their own time more productively.
7. You’re uncomfortable with being uncomfortable.
Yep, I’m gonna say it- you’ve got to step outside of your comfort zone to make the magic happen.
There is a certain sense of safety (though, in reality, an illusion) in that weekly paycheck that comes with the 9 to 5. Going it alone comes with a certain amount of uncertainty and that can get pretty uncomfortable sometimes. Other discomforts include taking a chance on yourself, exposing your art or creativity to the world, exposing yourself to failure, and reaching out to ask for help, guidance, coaching, or mentorship from the successful who’ve gone before you. Really, I could go on with an infinite list of discomforts you may face while on the path to choosing yourself, but I think you get the picture.
If I’m being honest here, I’ve got to tell you that it’s probably a lot more comfortable just letting someone else take responsibility, leaving the job at the office (as well as leaving it for office hours only), and just being a good soldier rather than a leader. And- still being honest- I’ve also got to say that it’s a hell of a lot less rewarding.
8. You hate roller coasters.
Early entrepreneurship can be a roller coaster of ups and downs, successes and failures. If you’re not ready to take those plunges along with the soaring triumphs, this game might not be for you.
9. You’re pragmatic and realistic.
As an innovator, you kind of have to be a bit unrealistic. Thinking outside the proverbial box (a la Steve Jobs) to find solutions is pretty much the essence of the entrepreneur.
10. You believe in job security and other fairy tales.
What you should know is that job security is not a necessity; in fact, it’s not even a reality. One of the best books I’ve read about striking it out on your own is The Barefoot Executive by Carrie Wilkerson.
Wilkerson often says, “At the end of the day, the only person who has control is the owner…. The Tooth Fairy, Santa Claus, Easter Bunny, and Job Security all fall into the same category. They just don’t exist. They’re fun to think about and easy to believe in, but when the truth finally comes out–and it always does–there is a sinking feeling and a wondering why ‘no one told me this before’…. there is no security other than the security you create by generating your own income…..”. Wilkerson goes on to say that the bottom line is that, especially in times of recession, the only one who is really guaranteed their job is the owner of the company, and even then she says, “Being an entrepreneur or business owner gives you that control, but it does not give you success. You’ve got to work hard to earn that”
