SAVE YOURSELF FROM ENTREPRENEURIAL DISASTER THROUGH THESE 4 TIPS

Business development is the creation of long-term value for an organization from customers, markets, and relationships. Our professional business development embraces skill-sets in key areas of business management, such as: Finance, Marketing, Strategic Management, Proposal Management and Sales.

The life of an entrepreneur sounds glamorous when you're on the outside looking in. Setting your own schedule, creating your own rules, and building the type of company you want to work for can be incredibly alluring.

In the 30 years I've been an entrepreneur, the perception of entrepreneurship has shifted dramatically. When I graduated college, everyone wanted to work for a big corporation -- that was the definition of success. Now it seems the opposite is true. Everyone wants to be an entrepreneur. However, far from a way of life, entrepreneurship -- with or without success – can be a ticket to a perpetual roller coaster ride that can often be nauseating at time.

The truth from within the trenches of being a serial entrepreneur is a bit darker than it is pictured to be in publications such as Inc. or Fast Company. You should think carefully if you're considering entrepreneurship, which might mean you'll not work 9 to 5 for a while, instead your typical workday becomes more like 16 hours, all hours of the day and night, 7 days a week. And for what? A chance to own 1 out of the 10 startups that actually do succeed. Cold statistics like these are not intended to discourage entrepreneurs, but to encourage them to understand the realities and sacrifices you have to be willing to make to become entrepreneurs.

In fact, successful entrepreneurs tend to be idolized by the masses because they appear to be happier, more successful, and more driven than anyone else. There are a multitude of books, courses, and companies devoted entirely to selling the dream of business ownership. Yet, there's a hidden dark side to becoming an entrepreneur that's rarely discussed -- the lifestyle can be a setup for a variety of serious issues.

I can tell you from personal experience that entrepreneurship -- starting your own company -- is hard and emotionally draining. I started a few companies in my career, and each one is as difficult as the last. It's difficult because partners, employees, and investors are investing in you, not your company. The better you can handle a 5 to 9 workday, and 60 to 80-hour workweeks, the better your company will perform. 

So, before you get too excited about becoming an entrepreneur, do yourself a favor and make sure you reevaluate your expectations and consider these facts to see if you truly want to go down this path: 

1. Starting a business is never as easy or as fast as you believe it will be.

Because I want to help you succeed as an entrepreneur let me say this … For all you young entrepreneurs who think owning your business leads to profits, you need a financial eye-opener. The truth is, there was a time when I spent more than I generated in revenue, and as a result, I didn't receive a paycheck for several years. I had to rely on my savings or reserves for basic living expenses with the hope that things would pan out in the future. Even the things you can predict won't happen exactly how you envisioned. As an entrepreneur, you'll be forced to adapt, sometimes in ways, you don't want to adapt. Nothing will happen the way you think it will.

2. It's been said that "Every great achievement requires great sacrifices."

Those sacrifices usually means your personal life could suffer if you are not very careful and intentional. And let me tell you from experience: whatever you value in your life you will have to sacrifice some of it for a season in some measure to be successful. That doesn’t mean you have to give up on those things that are important to you in your personal life.

I definitely worked at least 40 percent more than a typical 9-5 corporate job. Even when I wasn't working, I couldn't help but be distracted constantly, thinking about the areas I wanted to see growth in, the problems my business was facing, and the financial stress I was asked to bear took its toll on some personal likes.  But eventually I was able to live a life beyond my wildest dreams because I chose to sacrifice for a while.

3. The divide between what you want to do and what you have to do.

As an entrepreneur, I've had to juggle many things. I get to do some of the work I love to do, but also ended up doing some work I never wanted to do. I was an administrator, a supervisor, an accountant, an HR manager, and a marketer all at the same time. It was exhausting. No matter how excited I was to take on these responsibilities at the beginning of the week, this constant gear shifting wore me down at times, and it could take a toll on you also. My best advice is to be aware of yourself and respond in a positive way, stop what you’re doing and reset. What needs to be done will still be there tomorrow.

There are times I just get up from my desk and take a “power nap,” or go for a short drive. Just to refresh myself.

4. Failure is not an option, it's a certainty at times.

Every successful entrepreneur fails fast, learns fast, and fixes fast. If they don't, there will be some other failure, massive or minor, that will interfere with your plans and compromise your vision. Failure is an inevitable, and essential, part of entrepreneurship, though realizing this rarely makes it easier to accept. So, it’s important to increase your capacity for dealing with the emotions you feel when you fail.

The obstacle of failure is ever present when you're leading a business, and working through that failure is too much for some. The ability to recover from failure is what separates successes from the rest.

Not everyone can start a business -- And not everyone should. No one wants to crush anyone's dreams, but that's not what this is about. Not everyone has what it takes and not everyone wants to do what it takes to start, launch, and scale a company of their own. The word 'entrepreneur' has become too trendy and the meaning lost in pop-cultures glamour’s personification.

BUT ENTREPERENUERSHIP IS STILL THE WAY FORWARD TO YOUR FINANCIAL FREEDOM!!