Running your own business is wonderful—I should know, I do it. I find it exciting and meaningful, and without it? I’m not sure where I would be, or if I could be happy. The problem is, most people don’t know what it takes to run their own business, and so they jump in for all of the wrong reasons. Here are some of the most common reasons people give for wanting to run their own businesses—and why they are most likely wrong.
#1 I Want to Be My Own Boss
Great! Are you a good boss? Will you get yourself in gear, stay motivated and put out the best work you are capable of? Starting your own business simply because you don’t like being told what to do is a recipe for disaster. When you are the owner, there is no one there to pick up the slack if you can’t get yourself motivated. Entrepreneurship is for people who are motivated self-starters—not just people who dislike authority.
#2 I Want to Make My Own Hours
What a novel idea! You do realize that those chosen hours will be way more than your average 40-hour work week, right? It will remain so for as long as it takes to get your business where you want it to be. Entrepreneurs work some of the longest hours for some of the smallest pay in the whole country. With sacrifice comes reward, and let me be honest with you—there’s a lot of upfront sacrifice. Entrepreneurs need to be dedicated and ready to play the long game.
#3 I Want to Spend More Time with My Kids
What kind of magical children do you have that would allow you to get anything done while in their general vicinity? This by no means is an insult to your—or anyone’s—children, but they are a lot of work! A full time job, or more, some would say! Running a successful business requires your full attention—and answering client requests with your four year old at your feet demanding snacks might not be the image you’d like to portray. Of course, you can run a business with kids in tow—just make sure that you have dedicated time where the children are cared for, so that you can focus on your success.
It’s not that you can’t make your own hours, be your own boss, spend more time with your kids or even take exotic vacations as an entrepreneur. Those things are possible, but owning your own business is a long game with those rewards coming after a ton of blood, sweat and tears. You want it all? You can get it, but you have to work for it.