5 Things Nobody Tells You About Being an Entrepreneur
Posted by: Andrew | Posted on: June, 22 , 2012 0 Comments
Being an entrepreneur can be an awesome experience. Or it can be a crappy one. Just like any career, there are some parts of the job that nobody tells you about. And then there are parts of the job that you hear a lot about: like IPO money and millions of dollars of seed funding. People don’t like to talk about the bad stuff.
Well today, we’re going to buck that trend: here are 10 things you might not like about being an entrepreneur.
5) Your friends and family won’t understand you
Entrepreneurs have to sacrifice relationships in order to be successful. At the beginning, your friends and family might not understand what you do, and that could lead to some distance in your relationships. They may not realize why you’re working 12 to 15 hours a day without actually generating an income. Even when your business starts to achieve things (like good press coverage or a great seed funding round), they might not understand how important that is. Don’t listen to their doubts, and don’t waste too much time explaining what you do.
4) Little to no salary
Okay, some people might tell you about this disadvantage of being an entrepreneur. However, many people don’t realize how little you will be paid for all of your hard work. If you’re paying yourself a salary, it probably won’t be enough to compensate the hours of work you put into your startup every day. Nevertheless, the sacrifices you make today will pay off in the future, hopefully in a big way.
3) Everything takes twice as long to complete
When you’re planning out a new project or task, it’s important to estimate how long it will take to complete that task. However, nothing is as easy as it seems. As a rule of thumb, double your time estimate on every task you have planned. This will make it easier to budget your time. For every task you complete in a shorter than estimated period of time, there will be two or three more that take longer. Plan accordingly.
2) You’re not superman (or superwoman)
When you think of entrepreneurs and startups, you might envision a hardworking, determined person slaving away at a desk in the middle of the night, patiently waiting for their big break. This is a romanticized portrait of an entrepreneur. I’m not saying entrepreneurs don’t work hard until the middle of the night, but it’s important not to do everything yourself. You will get burned out, and you will start to overlook obvious problems. Hire some help and delegate your work.
1) You will have bad ideas
Good entrepreneurs have good ideas. However, all entrepreneurs have bad ideas. The first few times you try to think of a new idea, you might fail completely. Don’t let this discourage you. Learn from your failures and move on. Every good entrepreneur has experienced failure at some point. That’s what makes them good entrepreneurs.
Andrew is a professional freelance writer and web developer with a strong interest in SEO and internet marketing.
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