The 6 Hard Truths (and Myths) About Being an Entrepreneur

Deepak Gupta April 9, 2022
Updated 2022/04/09 at 5:45 PM
The 6 Hard Truths (and Myths) About Being an Entrepreneur

Having a business seems to be the result of following different steps, but the harsh truth of entrepreneurship is that to achieve it, you have to go a long way, full of satisfaction, obstacles and myths.

Most people who dream of entrepreneurship think that everything will be quick and easy and believe they know everything about the business, that they will succeed just by dedicating time to it, that the products will sell themselves and that social networks are enough to catapult sales.

But, there is a frightening and disturbing truth about becoming an entrepreneur. All entrepreneurs dream of having the freedom to pursue their dreams, to create their own empire and make a mark on the world.

The reality of entrepreneurship is that it can be fun and fulfilling, but it is also true that there is a dark side to it that no one mentions. Being an entrepreneur can be exhausting, spirit breaking and hard work.

Crude truths about being an Entrepreneur

1. You are never really your own boss

All entrepreneurs want to be their own boss. Being the one with the idea or the founder does not make you the boss at all.

Nowadays, people work by listening to the contributions of others so that everything works, i.e. you have to work as a team. For this reason, the team is the one who directs and helps to run the business.

2. They are not the best-paid person

Most entrepreneurs when they start their business have the vision that they are going to make a lot of money, but most of them will have to wait a while to see big profits. In order to create a sustainable business, it is necessary to have the best team and for this it is necessary to invest.

The reality of being an entrepreneur is that when they get a person to take their business to the next level, they will be the first to give up their pay to hire the right people. Most entrepreneurs will sacrifice for a better tomorrow.

3. There is no work-life balance.

When you are building a business it is difficult to separate your personal life and work, usually work will be your life. Whenever you are at home, you are always thinking about your business.

There is no such thing as a 9:00 am to 6:00 pm schedule when you are an entrepreneur, obviously, you will spend time at home, but you will always be thinking about your business and how to improve.

4. Having an essential work team

Every great company has its management, administrative, production, manufacturing and some extras. You must also have a support system outside the office, it is important that the family is 100% connected to your venture.

The family of an entrepreneur can become the foundation of your work, you will have to understand that as entrepreneurs you will have to take calls on weekends, and attend events, among others. The reality of being an entrepreneur and the family that supports you is that you must make sacrifices from time to time.

5 .They will always bad-mouth you

The more a business grows, the more enemies you will have, but this is the harsh truth of entrepreneurship. You are always going to get people who don’t like the way you do things, the decisions you make or the direction you are going in and they may constantly express it. Being an entrepreneur is not easy, you will have to make decisions with the welfare of your business in mind, but they will not be to everyone’s liking.

6. Perception matters

Perception is important, in fact, it matters more than reality, the way your business is seen is what will give you credibility and help you stay in business.

Entrepreneurship myths you should debunk

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1. Thinking you know everything about the business

Thinking that you have a complete mastery of a subject could jeopardise the development of your venture, as it does not allow it to evolve. It is necessary to admit that there are functional areas that you do not know in-depth, so you can take courses and workshops, but along the way, you will meet people who will help the business to advance and prosper in order to achieve its objectives.

Admitting that you have made a mistake in making a decision is part of growth. It is important to accept help, so it is recommended to seek advice, hire experts in the area, among others.

2. Believing that motivation is enough

Most people think that just being positive and motivated is enough to ensure success. You have to keep up to date, study, research, educate yourself, learn new things and open new perspectives, listen to your customers, listen to your employees, evaluate the competition, and plan.

Let this motivation be the basis that drives the activities to be carried out.

3. Thinking that the service or product will sell itself

It is necessary to draw up objectives and have a business strategy that helps to achieve them. Frequently reviewing these business strategies will be very useful to grow and correct mistakes.

4. Relying on social networks

Betting everything on a single resource is a mistake that many make. It is important to diversify and minimise risks at all times, so have viable options and stop waiting for exceptional cases.

Companies need a marketing plan.

5. They think that because they are entrepreneurs they can do everything in their business.

No matter how hard they try, one person cannot do everything in their business, there are many tasks to be carried out and a lot of knowledge to be acquired. Therefore it is necessary to have a great team if they want to grow.

Being an entrepreneur is a road full of ups and downs, the way you deal with each obstacle will define the direction and growth of the business.

Use all possible tools to help raise awareness of your venture and above all, try to surround yourself with people who are skilled and committed to the work. Put in the time and effort and you will surely have a successful venture without even realising it.

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