Entrepreneurship is a dream for many people looking to ditch daily jobs and become their own boss. The ability to support yourself from your own business, doing what makes you happy is a dream of many, but it also comes with many challenges. After starting their own businesses, many find the reality of entrepreneurship to be completely different compared to what they’ve imagined. Here is how the dream of entrepreneurship differs from reality:
You’ll have all the freedom in the world
You won’t. You’ll be working round-the-clock, at least in the initial stages. When you’re not working, you’ll be planning out the next day. Whether or not this will be stressful depends on how much you find hustle to be thrilling and exciting. Past starting your own company, you’ll have so many legal obligations and responsibilities that ending the workday will be impossible. But, you’ll be grossing decent amounts, and the odds of your income multiplying will make the efforts that worthier in your mind.
You won’t have to deal with a difficult boss
You’ll be your own worst boss. You’ll have trouble cutting yourself slack no matter what goes on in your life. You won’t take sick days when feeling ill, and you’ll barely manage to leave the work behind even during weekends and holidays. But, this won’t last forever. Though you’ll have trouble balancing work and personal life, the fruits of your labor will show once your earnings grow enough for you to hire help and cut your own working hours. But, it could take up to a year for that to happen. In the meantime, you’ll learn that being your own boss is more demanding than working with a difficult one.
You’ll be happy and in charge
You’ll be in charge, yes. But you’ll also be fully responsible for everything. The paperwork, the payments, managing projects- it will all be on you. Though you’ll have a final word on all important business matters, all the mistakes and failures will fall on you. During the first year of starting your own business, the stress could get to you. Make sure to have enough time to relax and avoid burning out. Though the experience will be anything but what you’ve imagined, it will still be very satisfying to know that you’re investing your own work in yourself, instead of someone else.
You’ll be financially secure
If you’re good at what you do, you’ll probably be safe from the get-go. But, your bar for financial security will rise, and you’ll be a lot less comfortable spending your dollars than you thought. You’ll no longer be happy with a single savings account. Now, you’ll want multiple, to ensure that you’ll be covered in case of unfortunate events. You’ll be applying for multiple insurance policies so that the family now depending on you doesn’t suffer if your business does. Though you won’t be living month-to-month, it will be a lot harder for you to feel completely satisfied with your finances.