Entrepreneurship is not for everyone
Are you thinking about starting a business of your own ? You don’t like your job as an employee anymore and you decided to start a company to be your own boss. Do you really know what is at stake ? Some people were born to be entrepreneurs but sadly, this might not come naturally for everyone. To make sure you are made for the job, here are seven reasons why you should not start your own business.
Your salary will change
Obviously, as an employee you get to receive a pay cheque every single month. When starting a new business, you never know when you will get paid as your income may vary from month to month. During the first few years you might not even earn any money so you will have to reduce your personal expenses and focus on the basics : eat and pay the rent. If you are not ready to give up on going out with your friends or travelling during the first few months, or even years, starting your own business might not be a very good idea.
Your work is never complete
If you think being an entrepreneur means more spare time, you’re wrong. Creating and running a successful business comes with a lot of work, far more than when you work as an employee.
There is always something to do, from acquiring new clients, to growing your community, or working on your website, your hands will always be busy. As an entrepreneur you must be productive and work with the best tools.
Even when you are not working, you must constantly think of new strategies to achieve your goals and expand your business.
You have to invest money
Starting a business without any investment is almost impossible as you must promote your company. Problem is, money usually comes from the entrepreneur himself (you), unless you ask for a loan, or find investors that believe in your project.
If you really want to succeed, you must be willing to invest money and have the capacity to do so.
You can’t procrastinate
Even if as an employee you must do your job not to get fired, there are times in your work day where you can take a break to have coffee, or talk to your colleagues, and still get paid. Being your own boss means that no one will threaten you if you choose to watch TV over work. You really have to find motivation to get the work done and reach for your goals. If you can’t discipline yourself, being an entrepreneur may be very difficult for you.
You have to make decisions
Unless you have a business partner, you make your decisions all by yourself. This means taking the risk to sometimes make the wrong choices and to suffer the consequences.
However, if you can question your decisions and grow lessons out of them, you will learn from your mistakes, personally and professionally. With time and experience, you will get better and you will learn to take the good opportunities that will lead you to success.
You must know how to manage your time
Being able to manage your time is one of the hardest skills to acquire and is directly related to your self-discipline. In order to succeed, you must learn to prioritize.
If you can’t tell which tasks are more important to help you reach your goals, you will find very difficult to manage your time and keep a good organization.
You must be open to learn new things
If you think learning is only for children, teenagers or young adults, you might compromise your accomplishments. A successful entrepreneur never stops learning because he knows that he can only grow his business by getting better.
If you don’t try new things, you won’t get the results that you want, so you must acquire new skills and grow your curiosity. Nowadays you don’t even have to attend classes, there are a lot of good online courses, or books written by experts in their fields.
Being an entrepreneur is not for everyone, as you must be open and self-disciplined in order to fulfill your aim, in spite of any fear your may have. If you think you don’t have the skills to lead a business, remember that it is never too late to learn. It requires a lot of efforts and courage, but if you really want to succeed, you have to work for it.