Who doesn’t want to be lucky enough to have a business idea that is an instant million-dollar money maker? I sure as hell would! Being an entrepreneur can be a very rewarding career path; especially if your business is providing a value that people are willing to spend big money for. Though it’s rewarding to be your own boss and make your own money, the truth of the matter is that entrepreneurship is NOT for the faint of heart.
We often see the lavish lifestyle today’s most successful entrepreneurs; the dope Instagram photos in remote locations, the fancy clothes and the cool parties; and it makes many of us want to pursue that lifestyle. Unfortunately, private jets and all-inclusive hotels aren’t a normal part of the everyday entrepreneurs’ daily routine.
Most entrepreneurs will tell you, running any business is hard work but running a successful business is even harder. You are no longer the person who just shows up to work and is told what to do. Now, you are the boss and leader. Everything falls on you and you will have to make certain sacrifices in order for your business to grow. The uncharted path to successful business ownership is not guaranteed. Rarely do we see the sweat, grueling work hours and sleepless nights many business owners endure to scale their business and keep the lights on.
Entrepreneurship can also bring all those fears that you keep tightly tucked away to the surface. That fear of public speaking, competition, failure, letting go, dealing with adversity, being broke, etc. Entrepreneurship forces you to deal with all of these things one way or another throughout your journey to success so be prepared to face your fears head on.
To the future entrepreneur, this is not to deter you, this is just to give you both sides of the story and prepare you for what is surely to come. There will be good days and there will be bad days. Of course, we want to avoid bad days as much as possible but those bad days and trying times often bring the most valuable learning experiences. Instead of fearing the trials of entrepreneurship, accept them, and use it as your motivation; you are being molded into the entrepreneur that you need to become to be successful.
Word of Advice: Take the time to learn the ins and outs of your business and industry. You must become an expert in your field and understand what your chosen niche is all about. Understand what value your business will bring to the table; are you providing a solution for problem? If you’re selling a product, do some research on your target audience to understand their buying patterns and general interests in order to create effective marketing strategies.