More and more people are pouring into the arena of small business to earn the right to call themselves entrepreneurs, but how many of them stay in the game and produce a thriving small business?
The title has always had an attractive quality, even more so now, but successful entrepreneurs know the staggering amount of work and sacrifice required is what really defines entrepreneurship.
Entrepreneurs are Like Firefighters without the Glory
On a day-to-day basis, a business owner is not coming in for two hours in the morning and letting the team take it from there. In fact, there are owners who run their businesses like that, and they’re the ones who probably won’t be around for very long.
Not only will you need to be at work for the whole day and then some, but you’re usually going to be, “putting out fires” the majority of the time. Taking care of upset clients, managing investors, and resolving operational issues are just a few of the things that you will regularly be faced with.
Prepare Yourself for Lean Times
Contrary to what you might assume, many entrepreneurs quickly find that their salary becomes a low priority. Especially if you’re a new business owner, you may only be able to pay yourself very little for a while, so that you can put vital funds back into the business to ensure its survival. The whips might have to wait, while you build your foundation.
You and Your Family May Need to Sacrifice
When you commit to running a business, you’re not the only one who is giving up your valuable time and attention. Your family is also affected because you will all have less time together. The hours are very demanding, and if it’s a trade-off you’ll need to carefully consider because the intensity of work may not let up for some time.
This makes it sound like some kind of military operation, but it doesn’t hurt to be prepared for the unique demands of running a small business. Being an entrepreneur is a job like any other, and it is one of the most challenging pursuits out there.