Top 5 burdens of being an Entrepreneur

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Top 5 burdens of being an Entrepreneur

There are many burdens of becoming an entrepreneur that not many people realize because they are always thinking that if you own a business you're successful and happy.  Well I'm here to tell you that those could be true, but not all the time.  There are plenty of times that I've caught myself extremely angry at something I couldn't control and not I have to change everything up in order to keep being some what successful with a method or website.  There have been plenty of times that I've over worked myself because I need something done and the only person who can do it is myself.  But you don't hear any of these things on Facebook or other social media websites because "Entrepreneurship is the best job in the world!" right?

There is a vast amount of entrepreneurs out there and only a few are hitting the pinnacle and being extremely happy with how everything is running.  On the other hand there is the vast majority of us who are worrying about what bills to pay first and how long we can wait before something gets overdue. 

Starting your own business is great, but be sure you're ready for all the burdens and failures that come along with it. 

1. Your accountability
When something goes wrong, it will seem like it's all your fault since you're the one who gave the green light on the project or anything else your company is doing.  You're the leader, the boss, the head honcho and you screwed up which means you're accountable for the actions that were taken and the losses that came in.

This will only increase the amount of stress around the workplace and you might even have to let some people go due to the amount of funding you no longer have.  It's a tough burden to bear, but you'll have to be ready for it if something like this ever does happen.

2. Stress over financials
Worrying about what you're going to pay and when you'll pay it is what every business owner worries about in the beginning of their entrepreneur journey.  Small business owners usually have very little start up money so that means you don't know what you should be spending it on and when.  Some people invest thousands into their websites design when all they really needed was a WordPress theme and some $5 a month hosting, but they wanted to do "big things" and now they might be suffering because of their decision.  They have a nice lavish website but now they can't advertise it through Adwords lol Top 5 burdens of being an Entrepreneur  On the other hand there are these multi million dollar corporations spending millions before they even launch a new business, which is stressful because you want to be in their shoes lol.

It's uncertain if you'll be successful.  The only person that is pushing your business is you, and you need to make strategic decisions in the beginning.

3. Trust Issues
When it comes to being successful, you won't be on this journey alone.  You will likely have a business partner, or a few and also some employees or freelancers.  Now I use to have an office and full time employee helping me out, but I quickly figured out it was pointless because I could just work from home and hire a virtual assistant for 1/4 the price of a full time employee.  So I switched it back to the basics and I haven't been happier Top 5 burdens of being an Entrepreneur

When it comes to running a successful business you'll need to delegate what teams will be doing, you'll have to let others do it and trust in them.  If that isn't something you think you can do, then you won't be able to expand much.  There are stories out there of big bosses having glass cubicles for their employees so the boss can see exactly what everyone is doing, which is creepy.

4. Balancing work and personal life
When you decide to become your own boss, you will need to understand that you may be working really long hours and have to pass up a lot of social engagements.  You'll need to see these as good sacrifices in order to become successful.  Think of it as time you're not wasting now will allow you to waste more in the future if you do become successful lol Top 5 burdens of being an Entrepreneur

When I started off I was working 16 to 20 hour days and barely seeing my friends and family.  Luckily I was single when I started out because I don't think any girlfriend would have put up with my insane house lmao Top 5 burdens of being an Entrepreneur 

5. You're going to be some what lonely
Not many startups and entrepreneurs talk about it, but you're going to be lonely in the beginning because of what I mentioned above.  You're going to be working so much that you won't be able to go out and see anyone that you like to normally hang out with.  You won't be able to have a successful relationship and a successful business at the same time.

Even if you have a team of employees, you can't really hang out with them because you'll need to have a personal and business relationship with people.  Employees shouldn't become your friends because if you have to fire them for bad work practices, it will only be difficult if you are connected on Facebook lol Top 5 burdens of being an Entrepreneur

In Conclusion:
Being an entrepreneur is great!  But there are some phsycilogical burdens that you will have to deal with.  The 5 I listed above might just be the tip of the iceburg, but I'm sure you can handle them as long as you stay diligent in your schedule and get everything done Top 5 burdens of being an Entrepreneur  Try not to focus on your burdens but look forward to your successes.  The burdens along the way will only make the win even sweeter Top 5 burdens of being an Entrepreneur

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I think that not everyone is fit to be the owner of a business. The stress and tension of being responsible for your own success or failure put a great strain on any individual. Still, some people like me have a hard time fitting in a regular job. Mostly because I like doing things my way and I don't like taking senseless orders. It all about your personal profile.

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I have that realization now that there are people who are born to be an entrepreneur and there are entrepreneurs who are lucky in business. I have tried to have a business twice and both failed for one reason or another. I am not being defensive so I will not elaborate on the failure of my businesses but I’d say maybe I am not fit to be an entrepreneur not exactly with the pressure and stress but more on the lack of lack in business.

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Yeah, I have often heard the famous "entrepreneur is the best job in the world" or some even go as far as saying "being an entrepreneur is so easy". It is silly that people don't even think before they speak. Being an entrepreneur is far from easy or an ideal job - at least at the beginning, you have to invest so much effort and energy into the business that you hardly have time for anything else.

I think that especially your 4th point is important. Trying to balance out the business and personal life is so hard when you are starting out as an entrepreneur. It often results in breakups and so on. Only certain people manage to put up with such insane hours and still keep up with a healthy relationship.

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In the past, my hubby used to be his own boss. The abovementioned burdens are indeed the ones that he had encountered and had to solved by himself since he was a sole proprietor. If you have a partner, he may share the burden with you. Otherwise, you have to think of the solutions which could lead to stress.

Financial wasn't a big problem since our goods are on credit for 30 days. We could sell them off in 2 weeks, pay the debt on time.
However, trust and betrayal were the issues between the boss and the employees. It was hard to fire someone whom you trusted so much and felt betrayed due to jealousy.

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I have seen now a day everybody want to start their own company! But according to me its not so easy to become an entrepreneur and yes much knowledge is needed before even thinking about it. Thank you for sharing some of the important points here on this.

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I have experienced firsthand what it means and how it feels to start a business and close it down within a year. The emotions are wide and ranging but the lessons learned are rock solid. Entrepreneurship is not for the fainthearted and certainly not for everyone. Starting and managing a business is like a city that has to be built stone by stone, with each single stone connecting and supporting each other. One miscalculated move and it all comes crashing down.

But it is not all doom and gloom. As long as the potential business owner can identify his risks, prepare for any contingency, have a back-up plan, then anything is possible. Countries with the highest number of entrepreneurs are countries that lead the world.

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I agree with all of these points. You have listed accountability as the first point, however, I will put financial stress on the first point and accountability on the second. In order to become an entrepreneur, you have to put a lot of money. When you put a lot of money on sometimes and you are yet to recover you investment, it is a great burden. Secondly, the accountability. Its your decision to invest, its you who performs the business, What if the business goes bust? Who is accountable? That's right you have to take responsibility of the failure even though you did your best.

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I agree with everything you say. However, the main thing that you can reliably count on is the satisfaction of running a successful business and knowing that it wouldn't be there without you. I think that is he main appeal to being an entrepreneur.

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I agree with you. I remember when I first started to work, I dreamed of starting my own business as I thought it'd have more freedom and control. As I'd like to be a stay at home mom, hence I became a freelancer too, it's my own business and now I can feel all the stresses, though it's just a very small business. But even with all these burdens, I still enjoy being a freelancer as I really have more freedom as compared to when I am working for others.

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My friend has her own business and she is never free. Managing your own business is not easy. The main problem that she has been having is with her employees. They have no sense of discipline. They come to work late and sometimes don't want to work. The labor turnover is quite high in her company. She is still struggling to find the best employees but unfortunately that's not easy.

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Among those five, I only see the trust issues as the main problem. Gaining trust is not easy especislly if one person isn't naturally charismatic and building that charisma and confidence would take time. I believe one should first gain complete confidence in himself before tackling other problems as an entrepreneur. Being a trustworthy person is a large advantage against other competitors.

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Totally 100% facts and if you dont watch it you might never recover from these burdens that plague and enterprenuer's journey. I for one found that i never usually have time to hang out most of the time hence the need to alway manage your time well. There are also some apps avialable to help you achieve these challenges.

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I tell people owning a business is not a child's play.You virtually carry everything on your head.You're faced with financial,psychological and social issues daily and you need to resolve them or else you might not be able to sleep at night.These problems cause sleepless night because you know the task ahead of you.The sad thing is if you're not able to handle these issues,it sadly leads to the collapse or dead of the business.

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I believe, to be a successful entrepreneur, none of these things are considered burdens. AT a certain level, one must relish all the challenges that come with entrepreneurship. These difficulties are almost fuel for the fire.

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To be honest, I have no more plans to be an entrepreneur anymore after having 2 failed attempts at business. Maybe I have come to terms that business is not for me and I would rather stick to employment for my livelihood. So far, I am doing good because I had been working for a bank for more than 30 years now and I am preparing myself as a freelancer for the time comes that I finally retire. The financial stress of a business can take tolls that you can even get sick.

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