I don’t know about you but, over the past 15 years, becoming an entrepreneur and running your own business has become so fashionable it’s unbelievable.
Is it worth the battle? Yes, it is, the only way to be successful in creating a good life for yourself and the people around you is by applying an entrepreneurial mindset to life. In its essence, it comes down to accepting change as a way of life and finding stability in oneself, family and community, while exploring the opportunities.
If you are working in the space of entrepreneurship, either as an entrepreneur running your business or providing services for other entrepreneurs, you probably feel the rapid change more and more.
Just during my own lifetime, so many things have changed. Not just some small things, but fundamental aspects of life. Of course, all this change was possible because of the speed information is distributed today around the world.
Social Media platforms provide everyone with the possibility to broadcast their ideas, comments, and views, and at least in the western world, with very little censorship.
What Is The Point Of Being An Entrepreneur?
Let me first clarify, that I am talking about the mindset of an entrepreneur. It is not about starting a business. It is about looking at life and its challenges through the glasses of an entrepreneur.
Not all business owners are entrepreneurs, but it is surely an advantage to run a business with an entrepreneurial mindset.
Let’s get back to the question about the point of being an entrepreneur. Approaching life’s challenges with the mindset of an entrepreneur turns those challenges into something you look forward to instead of something you’re trying to avoid.
Things are changing and happening. There is no point hiding from them. It’s much easier to be in the game and control the next step than being controlled by whatever happens next. But this requires determination, a creative and positive mindset.
Some people argue that it takes too much energy to always be in the game. This is when I argue that it takes as much energy to react to the things to come without being in control. If you lose your job today and you’re not prepared, it will probably cost you a lot of energy to get back on track.
As an entrepreneur, you would know your market and your value in it. With this knowledge, the whole process would be so much easier and put you in control of the next steps to take.
Being an entrepreneur does not mean that bad things don’t happen. Of course, they do. As an entrepreneur, you learned about yourself, the things that work for you and the things that don’t. You are aware of your surroundings. That’s what puts you ahead of the rest.
Why Do Many Entrepreneurs Run Businesses?
Is it this dream of being your own boss, running a business your way, doing what you want whenever you want? Is it about making money, becoming rich?
If any of those are on the button for you, I want you to think again!
Running your own business isn’t easy. It’s very hard work and most likely you’ll need to work for more hours in the week than you’ve ever worked before.
Forget your holidays for at least the first five years and prepare for having less money than you’ve ever had before. If you make it through the first three years and you enjoyed the journey, prepare yourself to change your job completely from doing the work you know and love to building and managing a team to take over from you. At least if you plan to grow and scale your business.
If you made it through the first few years, you won’t be able to settle. Most likely things will have changed by then and you will have to adjust to keep afloat.
It’s Not All About The Money…Or Is It?
Truthfully there are better and easier ways to make money without all that stress. This is especially true in Europe where employment is highly regulated in most countries and 12 hour days are very rare. In other parts of the world, this might be different.
If you are just out for the money, I would advise you to save 50% of everything you make and invest it wisely. This will give you financial independence much faster than most businesses will ever do.
So the question is: “Is it worth it to become an entrepreneur and run your own business?”
My answer is “Yes”. Yes, it is, if you are in it for the right reasons. But reasons, like being your own boss, running your own business, doing whatever you want, or making lots of money, are not the right reasons.
If that’s what drives you, then get a job in sales or in the financial markets. Where the money is, you make money. And as long as you make money you can pretty much be your own boss and do what you want.
What Is It About Then?
For me, a good reason to start your own business is if you can’t find another platform to do what you love to do.
The thing with running a business is that you have to run a business. Running a business is a lot of work. But if that is your reason, go for it. For anyone else, make sure you exploited all other options first.
If you still decide to run your own business, learn the skills you need to be good at it. Entrepreneurship is not about jumping into the deep end without knowing that you can swim. Entrepreneurship is about learning to swim because you want to jump into the deep end. This isn’t the same.
A business is a platform on which you can express yourself and do the things you feel you should do. However, besides doing what you like to do, you also need to maintain this platform. So think twice before starting a business.
Five Reasons To Battle It Out
What are the right reasons? In my experience they are:
- You’re desperate – you lost everything and you’re willing to do whatever it takes to get out of this hole and you don’t have other opportunities
- You’re obsessed – you’re so passionate about something and you don’t believe anyone else can do this better than you
- Opportunity knocks – something falls right into your lap and it’s too good not to pursue
- It’s in your DNA – it’s the one thing you feel you were born to do
- You have huge experience – you know everything there is to know about running a business and it’s something you always wanted to do
This is just a shortlist of the most important ones.
Actually, being an entrepreneur has very little to do with running a business. Instead, it has everything to do with setting and achieving your goals. If you can do that running your own business, great. Go for it. If you can do this by getting the right job in the right place, go for that.
There’s no good or bad in either of them.
All this might sound like a pledge against starting a business. And in a way it is. I’ve seen so many business owners fail, that it is hard to generally recommend starting a business.
Don’t be fooled by the notion of “You need to fail to be successful”. You don’t need to fail and lose everything. You need to learn and take it one step at the time.
But there are ways to make any business work and that is based on knowing how to do it. If your business is your platform to be the entrepreneur, spend some time to learn and practice the skills you need to be good at it.
Once you got the business down, you will have created a good foundation to express your entrepreneurial spirit and to build a successful future for yourself.
How about you? What kind of entrepreneur are you?