There’s no doubt that starting a business takes a powerful drive, to build something from scratch and bring a vision to life. Exactly where that drive comes from, though, is significant because it may determine whether the business owner will have the motivation to stick it out for the long haul.
Mr. John Q. Important, President & CEO
It’s one of the most sought-after titles in American history, and it’s understandable that we clamber to reach that position because let’s face it—it just sounds good. But along with the title comes the responsibility and stress of running a business, among other things.
So, if you got into business just for the title and the respect, then more power to you—as long as you can handle the other because if you can’t, your whole company could be in trouble.
The Magic Fades
Yes, it’s great to be the big boss. Keep in mind, though, that calling yourself the chief is probably only going to be cool for so long, and then you’re just left with a company that you either love like your child, or never cared much about in the first place.
To be a business owner is a wonderful occupation to have, but if you just want the title and have no real interest in running a business, then you’re most likely going to be miserable. You should at least know what you’re getting into beforehand.
Prepare yourself with this list of what you can expect when starting a business:
More than You Bargained for
If you followed that link to the article above ^ then you might be a little nervous about going into business—and you should be. Of course, you should be majorly excited if it’s something you really want to do, but you should also have a healthy fear of what business ownership entails because it’s not for the faint of heart.
There’s a reason that more than half of new small businesses don’t make it past the two-year mark. There are a few reasons for that, but one of them is undoubtedly the fact that the new owner underestimated the demands of the job and couldn’t help but to succumb to the pressure.
It’s an Endurance Sport
The point is simply this: If you don’t have much interest in your business outside of your prestigious title, then you’re either going to suffer, without the passion driving you to endure heavy stress and challenges, or the business may end up failing because you’re not interested enough to take good care of it.
The purpose of this article is not to discourage you from pursuing entrepreneurship, if that’s what you are truly passionate about doing, but merely to give you pause before you open a small business for the wrong reasons because it could end up costing you more than you expected. It’s good to be the boss, but only if you really want the position you’re taking.
Stephanie is the Marketing Director at Talkroute and has been featured in Forbes, Inc, and Entrepreneur as a leading authority on business and telecommunications.
Stephanie is also the chief editor and contributing author for the Talkroute blog helping more than 100k entrepreneurs to start, run, and grow their businesses.