5 Harsh Truths About Entrepreneurship

Entrepreneurship always seems to receive a ton of glory for the successes it has produced throughout the years. People who aren’t entrepreneurs don’t really know what they’re getting themselves into.

When I first started out, I remember reading about tons of self-made millionaires. I thought being an entrepreneur almost entitled me to the luxuries and pleasures of life. From the outside, entrepreneurship looks great!

It was only months later that I realized the hardships of being an entrepreneur. Don’t get me wrong, I love being an entrepreneur but there’s a lot more to it than meets the eye.

In this blog article, I’m going to share 5 harsh truths about entrepreneurship:

1. There is no such thing as a paycheck

The toughest part about entrepreneurship is that there is no guarantee your business venture will ever make any money. Especially when you initially launch your business, you cannot expect a paycheck of any sort.

The most successful entrepreneurs sacrifice paychecks and put all the money they can back into the company. It’s sad, but true. As an entrepreneur, you’re going to work for free for quite a while.

2. Your social life will suffer

As an entrepreneur, you cannot expect to live the same life you had before. Your business is now your priority so you can’t just get up and go to the beach with your friends whenever you feel the urge.

You will be so busy with your business that you will have trouble finding time for your friends and loved ones. You will probably end up spending less time with them and this is something that takes time for everyone to get used to.

3. You’re on a roller coaster with never-ending loops 

Here’s a quote that explains the entrepreneurial journey very well, “Entrepreneurship is crazy. One day you feel like you’re on top of the world and the next day you want to die.”

As an entrepreneur, we go through these roller coaster of emotions every single day. One day you’re feeling amazing about your business and the next your worried. It takes a really strong person to make it to the end of the ride.

4. You’re going to fail 

The toughest thing about entrepreneurship is understanding that you will most likely fail your first time. There are resources out there such as my course on How To Build A Startup or other books that can increase your odds of success, but almost all entrepreneurs fail at some point.

The journey to success isn’t always as great as it looks. Most entrepreneurs have failed numerous times and are successfully only because of their determination and persistence.

5. You’re going to have to do it all 

As an entrepreneur, you’re going to be responsible for doing everything in your business. The biggest mistake you can make as an entrepreneur is to rely on others to get things done in the early periods of your business.

When your business hasn’t proved much, it’s hard to form a team around you that will really believe in your vision. The harsh reality is that if you want your business to go anywhere, you’re going to have to literally do it all yourself.

Conclusion

These are 5 harsh truths about entrepreneurship that I have shared in this blog article. While these realities may be a bit harsh, entrepreneurship is still a more lucrative career option than anything else out there.

photo credit: jcoterhals via photopin cc