When someone calls themselves an entrepreneur, the first thing that comes to mind is a successful and happy person who succeeded in today’s uncertainty. Is this the full picture? What does it take to be an entrepreneur? And above all, what does it mean to be an entrepreneur?
An entrepreneur by definition is a person who sets up a business or businesses (serial entrepreneur), taking on financial risks in the hope of profit. That being said, entrepreneurship is a dark world that only few dares to enter and explore its full dimensions. It is important to know the world of entrepreneurship and what makes one an entrepreneur before being involved in one.
In this entry, we will discover the harsh reality of entrepreneurship and what it takes to call yourself oneself a real entrepreneur.
What is an Entrepreneur?
An entrepreneur is an individual who starts a new company and bears most of the risks while reaping most of the benefits. Entrepreneurship refers to the process of starting a company. They often portray the entrepreneur as a pioneer, a source of novel concepts, products, services, and/or business processes.
Entrepreneurs play an important role in every economy, as they use their expertise and initiative to anticipate needs and bring new ideas to market. Entrepreneurs that take on the risks on starting a business are rewarded with profits, fame, and opportunities for continued development. Failure of an entrepreneur results in damages and a lower market presence for those involved.
What you need to know before becoming an entrepreneur?
1. Fail to Succeed!
For an entrepreneur to succeed, it’s not all butterflies and rainbows, and to get it right, one should understand that failure (lots of failure) is part of the process. When you start a company, you will never get it right from the get-go. A true entrepreneur is committed and disciplined through all the hardships they endure and foresee the bright side. May it be Economic Downfalls, COVID-19 or any crisis they find new opportunities during these times.
2. It’s a lonely road!
Becoming an entrepreneur means less control in balancing one’s work and personal life, the lines between them and boundaries will become blurry. If you are passionate and determined to make it, you will think of business every second of your day; it will hunt you during your dreams. Say goodbye to weekends and hanging out with friends! Say goodbye to leaving office on time; that is, if you don’t start sleeping at the office! This, typically, will cause a growing distance between you and your close friends and family members. They will get mad at you and you get frustrated because they just don’t get it!
3. Sacrifice, Sacrifice and Sacrifice!
Sacrificing is part of becoming an entrepreneur. An entrepreneur gives up stability with no guarantee they will succeed; it’s a huge risk! If you haven’t already given up a comfortable, well-paying, and secure job to pursue this path, you’ll have to give up some other kind of stability before you can proceed.
4. Questioning your Sanity!
Facing a great deal of setbacks and obstacles daily will result in questioning your sanity and devotion to your ideas. Who you are will eventually be defined by how you deal and overcome these circumstances. Any experience along the way will be an Invaluable learning opportunity. You’ll think you’re insane for going through all this nonsense just to get your idea to life. But keep in mind that it is the insane who fundamentally alter society.
Make sure when you start a business or pursue a new idea that you are passionate about it; not just to make money. Passion fuels your determination and disciplines you to keep going. But remember, you are not alone, many have endeared this road and made it! Keep going and believe in yourself, believe in your vision!
If you are struggling with your business, reach out to us at email@example.com, we will listen and try to help you.