Everybody used to have a dream of being an astronaut, a singer, the President, or something else. But now things are different. Things have changed. Now they want to be an entrepreneur.
It’s been glamorized in the media, exaggerated on Instagram, and now everybody can’t help themselves. Everybody wants to start their own business, work for themselves, and become the next Gary Vaynerchuk or Mark Cuban. The truth is that 99.93% of those people will fail. I’m not saying that to be pessimistic. No. I’m saying it because it’s the truth: the vast majority of the population does not have what it takes to be successful in entrepreneurship.
Here are a few things that you should know before you set off on your journey to build a business empire:
It Will Take A Toll On Your Relationships With Friends & Family.
The vast majority of people have absolutely no idea how much it will strain the relationships between themselves & their loved ones.
Instead of spending several hours a day hanging out with your family, you’ll be working on your craft. Instead of going to the bar every evening after work, you’ll be improving your business.
Those who are successful will be able to testify the amount of pain, sweat, blood & tears which has allowed them to get where they are. But unless you are willing to sacrifice as much time as possible in order to make it happen, the odds of success are slim.
You Are Held Accountable To Your Own Losses.
As an entrepreneur myself, this one really hits home due to the number of setbacks I’ve faced on a daily basis. But persistence and talent are definitely key to becoming a successful career.
So many people have a fear of losing. They are afraid of other people’s opinions and thus will do anything to portray a positive light on themselves & their activities. But that’s why so many people fail: they are blinded by the Lamborghini’s and the private the jets that they struggle to see the hard work required to genuinely achieve that level of wealth. You have to own your mistakes. You have to realize what you are vulnerable towards and create a solution to fix your weaknesses.
But despite being held accountable to your losses, you are also totally responsible for your success. That’s a good feeling.
A Lack Of Sleep.
Don’t get me wrong… sleep is important. It’s essential to survive & to establish a healthy mind.
Your business is often treated like a baby; It needs constant care & attention in order to thrive & succeed in the world. If you are not constantly investing your time, energy & resources into it, the chances of succeeding as an entrepreneur are basically zero.
Every waking moment of your day (within reason) should be spent focusing on getting one step closer to your business goals & ambitions. After all, it’s the hard work and execution that will actually make you successful.
Success Will Not Come Overnight.
It astounds me as to how many people write “entrepreneur” in their Instagram bio and suddenly believes they are one. Gary Vee has said this… so have many other people. And I will also say it — because it’s true.
So many people tend to believe that all they need to do is post a pretty picture on Instagram and a makeup brand will hand them $35600 in sponsorship money when they have 34 followers, or they open a Shopify store and all of a sudden millions of people will start buying their product within minutes. I’m not an idiot… of course, there have been occasions where this has happened. But for the 99.42% of entrepreneurs, it’s a lot of hard work over a sustained period of time before you start seeing success. Even then, it may take years before your business lifts off the ground and starts becoming profitable.
Work-Life Balance Is a Myth In The Embryonic Days Of A Business.
I often get asked about what my “work-life balance” is like. Every single time, I chuckle and smile. I look them in the eyes and respond with one simple fact: “My business is my life”.
There is not a single successful entrepreneur or businessman that you can think of which didn’t bleed their eyes out during the starting days of their business. There is no going out to the movies every evening with your mates or heading to Ibiza for a weekend to get drunk and get laid. It doesn’t happen.
Instead, the reality is that there are constant matters which need attending to, meetings at 3 am over Skype to try and secure a business deal or simply working tirelessly on marketing campaigns to get new customers.
Mark Cuban famously said the following quote:
Work like there is someone working 24 hours a day to try and take it all away from you.
Entrepreneurship is not easy. It is brutal. It is relentless. And only the most persistent, dedicated & focused people out there shall win.
But if you truly have a passion for something, the only person stopping you from making it your full-time career is yourself.