I want to talk about something that has been in constant trend for the 2017 year- entrepreneurship. For the past year I’ve been weighing the pros and cons of entrepreneurship and owning my own business, and it has been my biggest pain point. When I say that entrepreneurship has been a trend, I don’t of course mean that everyone and their sister has been quitting their jobs and starting their own business. I just mean that it seems like everyone and their sister has been quitting their jobs and starting their own business.
Oh, the struggle of always feeling like you are behind. It’s one of the biggest negatives of being an adult.
So since I’ve been conducting my own mental torture of contemplating starting a business, I thought I would share my own findings in hopes that it’ll help someone out there who may also be struggling. I’m here to be honest and share personal experiences, so don’t take offense to anything I may say.
So what is entrepreneurship? It’s simply saying goodbye to traditional 9-5 and starting up your own company. Your own little start up using your garage, laptop, and whatever savings you might have. Scary thought? You bet it is.
Let’s draft up the pros and cons of doing this. Mind you, I’m keeping this list general. Some pros and cons might not pertain to you.
- Your boss is yourself. You hold yourself accountable to getting the job done, and you are going to be your own critic.
- Say goodbye to any annoying or not so smart coworkers. If your going to pick out a partner, at least you get to choose who you’re going to work with.
- The satisfaction of saying you created/accomplished something major. No one is going to lie and say that creating a business is not a huge confidence boost.
- You get spend all your time on honing your craft or following your passion.
- You get to say with confidence that you are doing something you love.
- Flexibility. Want to take a week off? Want to only work at night? Want to not work Mondays? You get to do all of that when you make your own schedule.
- If you work hard enough or your product is successful enough- you could be making way more than your current salary.
- If you fail, it is all on you. Are you mentally prepared for that?
- Expect to work more than just 40 hours a week. Time = money when you run your own business, so less time you are spending working, the more opportunities you miss.
- You are the accountant, the marketer, the CEO, and administrator all rolled up into one. You are going to be doing the work of 10 at first, until you hire on more staff.
- You won’t be making a consistent amount of money. One month you could be rolling in dough, and the next two could be less than satisfactory. Are you ready to power through the slower months?
- You are competing against companies with 20x more man power, years of experience, followings, etc. How are you planning on standing out against them all?
- Not everyone is going to support you. In fact, a lot of people will think your crazy or foolish. Are you ready to hear the criticism?
Theres more you can add to both lists, but it’ll vary on your situation.
After contemplating these things, I’ve decided that in 2018 I will be dedicating my time to honing my craft until I can call myself an expert in my own specific field. Until I’m 100% confident in what I can do, I don’t see myself capable of running my own business.
Are you someone that has already started running your own business? Let me know, I would love to interview you for the blog!
If you’d like more posts on running your own business, let me know. xx