5 Things No One Ever Told Me About Being An Entrepreneur

5 Things No One Ever Told Me About Being An Entrepreneur
In the real sense, an entrepreneur is simply a person who sets up a business or businesses, taking on financial risks in the hope of profit.
A few decades ago, the routine was get a good salary job as soon as you finish from the higher institution. But fast forward to the 21st century, a lot has changed especially with the introduction of information technology.
More people are now focused on creating their own jobs instead of waiting on the government for white collar jobs. You know? With the internet, reaching more customers is now very much easier and cheaper than the traditional media.

But is entrepreneurship really as easy as people make us believe?

Entrepreneurship comes with a lot of commitments, especially if you'd be starting as a solo entrepreneur. Starting a business isn't just all about sandwiches and butter, there a so many challenges that you'd be facing in the course of running your business that if not prepared, might cause you to fail. But fisrt of all, you need to work hard on your business plan and Wimgo can surely be of great help in this regard.
Below are some things you need to know as a startup or potential entrepreneur:

• Your relationship will suffer

5 Things No One Ever Told Me About Being An Entrepreneur
This was the first thing I observed about being an entrepreneur. Most entrepreneurs I've met, especially the young ones are single, or dating other entrepreneurs who probably have no time too. While in the path to build the next Facebook or Microsoft, you'd be too occupied to even look after others.
In fact, a number of entrepreneurs barely have good six hours sleep in a day, especially in the early phases of their careers. I remember waking up in the mid nights to write down some ideas I got while in the bed even as a university student. My timetable then was home, school and work. Any other events, whether parties or hangouts were listed in the bottom of my to-do lists.

• You won't always be happy

As an entrepreneur, all your plans can never work as expected. While some will perform above expectations, a while lot of others might not really satisfy your expectations.
When this happens, you might be forced to become sad and probably quitting. But before closing down the business, think of the bigger images ahead and what you want to achieve in the next few years of running the brand. Always remember that quitting won't make you the next Steve Jobs or Mark Zuckerberg.

• Your diet will be affected too

5 Things No One Ever Told Me About Being An Entrepreneur
You might be probably working for up to 18 hours on a daily basis with no time to sleep, exercise or even cook. Sometimes you might be too occupied to prepare a meal at home that you'd be forced to grab a lunch or snacks at Kilimanjaro and Mr Biggs. Microwave meals and noodles won't also be far from you, at least they cook in minutes.
Just know that you're not alone in this, there are other entrepreneur all over the world that eat tat way. But if possible, try squeezing out mapping out a daily timetable for your meals. Junks might sustain you for the meantime, but they won't be doing you much good in the later run.

• You have to be mentally strong

I know you must have heard those motivational speakers that tell stories of how they invested all they had and it built them to their present height. While pondering on those interesting, also know that not all businesses turn out that way.
In running your brand, you need to be mentally prepared for that. You might end up putting your whole time and resource into a brand and it ends up not working as imagined. This is where surrounding yourself with mentors and people who have experienced this becomes vitally important. Every failure you know? Always adds layers to your mental strength.

• Getting investors is not that easy

I've seen many startups that think getting a business sponsor is all about having a business plan and probably registering their businesses with the relevant authorities. While these are very important, also note that investors will respect you far more if you've had the terrible diet and the overdraft account. This way, they'll you'd be showing them how passionate and committed you are to the success of the business.
Stop kidding that you the next Facebook and need $10 million to start it. Raising money takes a lot of preparation, time, a good team and a solid business model.

The points above are from my personal experiences. If you're yet to launch your business, you can do so. Not having to work for someone is really fun, but it also comes with its own challenges.
So you can decide to pick up the entrepreneurship lifestyle or continue with your regular job, no one's really bad, and no one is the best. it all depends on you.
Before you leave, also check out the 10 factors affecting entrepreneurship development in Nigeria.
Next Post »