Being an entrepreneur is sometimes glamorized by online influencers like Gary Vaynerchuck or Tim Ferris. And while more people are starting their own small businesses, many people are only staying at jobs they hate out of fear.
It is definitely not a good idea for everyone to run out of their office whenever they get fed up at work. But this is to serve as a motivator for those who are ready to branch out and are being held back by doubt.
1. Business failure is not as extreme as it may sound
Nobody wants to hear about companies going down with people losing their jobs. And the warnings about how often small business can fail are common. The Bureau of Labor Statisitics’ Business Employment Dynamics has about an 80% survival rate for the first year, which are pretty favorable odds.
What are considered in statistics as a ‘failure’ can also mean the entrepreneur pivoted to a new business. That also doesn’t mean the founders never accomplished anything else in their lives. They could have each launched a series of new companies that ‘failed’ until one became a massive success.
Don’t put so much pressure on your first project. In fact, most successful business leaders have pivoted their ideas before finding their big success.
2. An office job will always be there
Leaving a comfortable job can be a scary thought. But you should plan and save for your business before you go. If you really did not like the job, save enough to cover how long it would take you to find a new one if you decide to.
This does not have to be a terrifying decision, just a well planned one where you can go get a different job if necessary. Give your new business all you have got and as much time and focus as possible. Just don’t fear having to starve on the streets. Having time for your own ventures is your choice and so is finding a new job if you feel like it.
3. It’s natural to focus on the downside but ignore the upsides
It can be easy to think of your business going under. Instead, think of what an even moderately successful business will do for your income and quality of life. And even if the first company does not work out you will have started on a path that could easily be worth the risk. In fact, more than you ever predicted. You just don’t know it yet.
4. You will gain a massive amount of valuable experience
Don’t only think of financial benefits to a successful business launch. The amount of new skills you will learn include: delegating tasks, project management, managing finances, and sales process will benefit you for the rest of your life.
You will even be able to manage risk and see how companies work from an entirely different perspective. Those are things that can only introduced to you at a school. Nothing will ever be as valuable as first hand, real world experience.
5. Your personal growth and mindset will skyrocket
What has given you the strength of will and sense of integrity in your life? It could be any complex combination of your role models, upbringing, and personality. Most likely it is the hardships you have overcome and your sense of accomplishment have shaped your confidence and sense of identity.
No matter the outcome of your business, facing hard decisions and pushing beyond your comfort zone will give you a massive amount of growth. You will become more comfortable with uncertainty, and become more resilient as you overcome doubts and fears each day.
6. Decide your character
You may think of yourself as not assertive enough, not bold enough, or just generally not enough to do what you think it will take. Do you think your ‘real character’ is to be an employee and to follow orders? Or if you are honest with yourself, do you know deep down, that you were made to live independently and be in total control of your career?
You have the power to choose your own path. And deciding to be the type of person who believes in their vision and goes for it despite the risk is also a decision. Either will shape your character and it is your decision. You get to choose.