There are lots of benefits to entrepreneurship. You can set your own schedule, follow your own rules, and live out your dreams of running your own empire. Unfortunately, not every day will be full of meaningful conversations and business successes. Make sure you’re ready for the not-so-glamorous side of running your own company.
Administrative Tasks Will Never Go Away
When you dreamed of owning a company, you probably didn’t picture yourself spending evenings sorting through paperwork. Like it or not, administrative tasks are a big part of running a successful business. You’ll need to set aside time to do things like file taxes, go over your budget, and update your website. The alternative is outsourcing those tasks, but only when your budget allows for it.
There Will Be Stress. A Lot of It.
We can all hope that things will run smoothly day-to-day, but the truth is that there will be roadblocks and hiccups. Not every day will be perfect. A deal will fall through or a client will back out of a project or an invoice will go unpaid for too long. There will be reasons to stress. Finding ways to deal with that stress early on will save you headaches later.
If You Don’t Work, You Won’t Get Paid
This is the harsh truth of working for yourself. It’s a fact we all know going into entrepreneurship, but one we tend to not talk about because it’s truly terrifying. If you don’t hustle and make things happen, there won’t be a paycheck at the end of the week. The clear solution is to work hard and make it happen.
It Can Be Lonely
Yes, working alone can be amazing. You can enjoy the peace and quiet of your own space and you don’t have to answer to anyone. However, that also means not having coworkers to gossip with and no lunch crew to spend an hour with during the day. There are definitely ways to connect with others when you’re working solo, but you’ll need to make an effort to make it happen.
Your Social Life Might Suffer
Running a business takes a lot of time, effort, and dedication. You’re solely responsible for making sure that work gets done and things are operating smoothly. In the beginning, your business will likely take over your life. That means you’ll have less time for meeting up with friends, spending time with family, and enjoying your relationship.
You’ll Have to Answer A Lot of Questions
Be prepared for all of the questions that will inevitably be coming your way at Thanksgiving with the family. Why did you quit your job? Why entrepreneurship? What exactly is this business? Are you making any money? Yes, the questions will get intrusive. No, you can’t avoid them completely. Prepare your elevator speech and get ready to recite it over and over.
For as many drawbacks as there might be to becoming an entrepreneur, if this is the path you were meant to take, the benefits will always win out.