The road for an entrepreneur is not a smooth one.
There are potholes. If the road is even paved.
And more than likely, it’s crowded with those people who jump in front in you just to slow down. Grrr bad drivers.
But more than anything else on the road, there’s risk. In short:
-The risk of failure
-Loss of Friends (sometimes because of the previous, but…)
-No Easy Decisions
But there’s a silver lining for every risk. This post (my 100th one…woo!) will examine both risk and reward.
1. The Risk of Failure
No one likes the feeling of attempting to achieve a goal and falling short. It’s not fun. That’s why many people are comfortable in the rank-and-file of Corporate America. Why try to do your own thing when some lifeless institution can give you a living. No doubt entrepreneurs, when they are on the brink of failure, can find that life to be appealing.
But if you’re an entrepreneur…you know that the risk is well worth it. Economics states that high risk reap high rewards. And what reward is higher than being able to go home to the people you love, eat the food lovingly prepared, and go to sleep at night knowing that your endeavor help made this life happen.
Not a single one.
Debt sucks. And if you are one of the lucky small business owners that started without any- you’re the envy of the masses.
But don’t let it way you down. Many people- who hate what they’re doing- might have more debt than you. So buck up chum! Plus, if financial theory still hold weight in this recession-but-not-really environment, having debt is okay, as long as it’s leveraged well.
If not, well…happy selling!
Debt is a part of risk. If you’re afraid of owing money, then entrepreneurship is not for you.
3. Loss of “Friends”
When you’re trying to fulfill one of your dreams as an entrepreneur, you find out who your real friends are in terrific speed. Sure, some of them may have invested in you in the very beginning, but you find out who really has your back in the middle of the venture, the valleys, and the tough times. Real friends aren’t needed in the hills and great business times.
So if there’s a rub between you and those “friends” now…deem it a blessing in disguise.
4. No Easy Decisions
I wish I could tell you that being a small business owner is terribly simple.
But that would be a lie. And I’m no liar.
A small business owner is faced with tough decisions every day. How do I get my business on the right track? Who should I partner with to increase my visibility? How is the best way to spend my time? What are my financial priorities?
And the list continues.
But is being a small business owner all gloom and doom? Absolutely not!
I would be hard-pressed to find something else as exciting, fulfilling, high-pressured, dramatic, and fun as being in small business. The lows suck, but for every 5 low-points, that 1 success turns those lows into a chuckle and a “that time sucked didn’t it?” remark.
But, there’s always risk.