Have you started this business? Do you own it? Sounds Enchanting!
I am sure, you must be earning in millions, enjoying flexible working hours and love being your own boss. What a life!
This is how people see you when they get to know that you are an entrepreneur now. Apparently, this glamorous lifestyle looks good but no one sees the other side of the picture.
Here in this article, we will be discussing those fearsome nightmares that entrepreneurs never talk about and the psychological price that entrepreneurs pay for owning a business.
Risk-Taking is not everyone’s cup of tea
People rarely talk about this dread affliction that is called ‘Risk’. Risk-taking is the bet to win or lose which becomes the part of an entrepreneur’s daily life. From abandoning monthly steady paychecks to putting all of their finances in a hypothetically profitable business is beyond everyone’s ken. Other than finances and career switches, they even place their mental health and personal life at stake. But they do it. They take risks every day.
The determined entrepreneurs take risk-taking in a way that either they will win it or gain a new learning experience. Because they know that ‘If you can’t be a risk-taker, you can’t be an entrepreneur. That’s it!
They pay a heavy price for their dreams to come true.
Stress will be your business partner forever
People synonymize stress with entrepreneurship. They say it right!
Entrepreneurs live on the edge of a knife. This stress is actually grisly and sometimes threatening enough to consume your health. This daunting lifestyle of entrepreneurs brings the stress of accountability, financial responsibilities, leadership, failure, and growth. But it is something that no one can run away from. In order to be a successful entrepreneur, they face it. They train their minds to be stronger than their emotions or else they know that they will lose every time. So if you are also planning to start a business, keep this in mind. This can shake you, be ready!
The art of not giving up
Not everyone possesses the DNA of being an entrepreneur. Being an entrepreneur requires crazy determination, hard work and most importantly the art of not giving up. Each day has its own obstacles to lower down motivation or sometimes to completely finish it. No matter what the circumstances are, they stand up again and again after falling and move ahead. They know it that if they give up in their turbulent times that means their game is over. So, one of the mantras is NEVER GIVE UP!
The quest for finding the perfect team
It is indeed not a one man’s job to run a company. From the decision to design a logo to business branding, from setting business strategy to the final product delivery, it’s all about the teamwork. A perfect blend of individuals can enable you to come up with the success sagas. But finding a team that has equal passion and determination to achieve your company’s goals is almost the insurmountable task. It takes ages for the business owner to build a team and retain it. They invest a lot of money and time to find such a team. This is one cumbersome job that the business owners do.
The not so supportive loved ones
It has been usually observed that when someone starts a business, his friends and family automatically expect to get the product or service for free or they want to get unrealistic discounts. Instead of being the first buyers they become the first expense. Jack Ma once said, ‘When selling to close friends and family, no matter how much you’re selling to them, they will always feel you’re earning their money, no matter how cheap you sell to them, they still wouldn’t appreciate it.’ This kind of attitude from the closed ones demotivates the business owner and they become the financial liabilities instead of being a support. Entrepreneurs bear this kind of attitudes on a daily basis. Instead of upsetting their loved ones, they prefer them being a financial burden. This is the worst thing that you can do to someone you love. If you can’t support them don’t be an add on to their expenses.
Entrepreneurship is not a cakewalk. Being an entrepreneur you will have to give your life to the business. Your finances, your hard work, determination, time, attention and even your health. And trust me it is not easy, only a rare breed of people can hone this skill.
So next time if you meet someone who has started a business, instead of admiring his lifestyle and assuming his bank balance, appreciate his hard work and his risk-taking ability. Support them by buying from them. If you can’t do it, at least be there for their emotional support. They go through a lot and mask their emotions, but appreciations keep their spirits high. Be there for them!