Many people become disappointed with their experience as an entrepreneur. After stepping into a new venture, the stress of finding customers, selling products and servicing customers can seem overwhelming. In short, life as an entrepreneur often isn’t as fun as people expect it to be.
For this reason, everyone who feels enamored with their dream of entrepreneurship should first get a healthy dose of reality. In fact, they should learn the following hard truths before they take another step.
To begin with, customers need the entrepreneur to meet their needs. As a business grows, employees bring problems of their own into the mix. Additionally, investors, vendors and regulators all put pressure on the business owner. In other words, entrepreneurs have a tough life.
In addition to providing solutions for everyone, entrepreneurs must solve their own problems. For instance, getting the first client takes a lot of time and effort. Of course, most businesses need more than one customer. As time passes, overhead grows, along with payroll, requiring even more customers just to break even. Entrepreneurs have little time to savor their achievements before new obstacles arise.
Entrepreneurs who have the mentality of an employee often feel shocked when they step out on their own. As a business owner, they no longer have managers and supervisors to tell them what to do. Similarly, they can’t depend on other people to recruit customers, process orders and support customers. Even worse, entrepreneurs have no guarantee of a paycheck at the end of every week or month.
When a business needs a cash infusion, new investors rarely appear with generous bailouts. To the contrary, nobody will come to the rescue when cash flow becomes a problem. Entrepreneurs are solely responsible for their success.
There’s no “right way”
Although general principals and methodologies can provide guidance no identical business success stories exist. So, entrepreneurs must find their own pathway to success. Moreover, after achieving some goals, business owners must continue to work hard just to stay relevant. After all, technology and other changes in the marketplace can, almost overnight, render their products and strategies obsolete
In the end, the hardships of launching a new venture cause many would-be entrepreneurs to quit. However, those who find the lifestyle invigorating will never look back.