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 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
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
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
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
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 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