Do you work for yourself? Isn’t it a great feeling? These are some of the common questions related to the life of an entrepreneur. Friends, relatives, acquaintances, past colleagues, and even strangers often use a combination of these words.
Moreover, the internet is full of blogs about entrepreneurs. Some articles cover entrepreneurial lifestyle – how they sleep, read, live, work, eat, party, and more. Others talk about leadership, personality, work ethics, and their daily habits.
While the information is helpful, it is sometimes misleading as well. All entrepreneurs don’t follow a single way to manage their time and deal with the stress they experience on a day-to-day basis. It all looks easy, but it can be pretty hard and exhausting.
On the contrary, the life of an entrepreneur can also be incredibly exciting, liberating, and exceptionally rewarding. Most entrepreneurs know and agree that running your own business has both ups and downs.
7 Interesting Things About the Life of an Entrepreneur
Wondering how are entrepreneurs different from others? Here’s a sneak peak into the life of an entrepreneur:
1) Every entrepreneur is different
Entrepreneurs are no special human beings. Just like any other segment of the population, they are a random group of people. And they come in a wide variety. Entrepreneurs don’t have a set silhouette or a specific persona.
If you think that entrepreneurship is like fitting into a certain mode, you’re on the wrong track. The life of an entrepreneur depends on the nature of the business they wish to operate. Each entrepreneur is different from the other in terms of skills, habits, work ethics, time management, personality, etc.
2) Entrepreneurs are delegators
Entrepreneurs are motivated to run a business. However, what they don’t realize is that they need to work with a lot of people. They need to guide a lot of people on what is to be done.
Launching and running a business is not a one-person show. You can be extremely efficient to take the role of a co-founder, yet you cannot do everything by yourself. There are various roles and responsibilities for which you need additional support.
Entrepreneurs need to get good people to work. And then, they need to master the art of delegation. When entrepreneurs delegate work, their chances of success increase. This is because they get more time to focus on important decisions and activities.
3) Entrepreneurs have determination
Many aspiring entrepreneurs believe that entrepreneurship is a combination of luck, intellect, and skill. And this is what is needed to be successful. However, that’s not true.
Most entrepreneurs who are successful have one thing in common – determination and drive. You must have certain skills but they don’t have to exceptional. Moreover, you need to envision the future but you don’t require extraordinary intellectual prowess to be a successful entrepreneur.
A successful entrepreneur is one who has the drive. You can recognize it as an ambition, as a dream, or as a passion. But it is not something entirely related to skills, educational qualification, or intellect.
4) Clothes Matter
While this may not seem like something important, it does matter. The way you dress influences how successful you can be as an entrepreneur.
You meet several people on your journey as an entrepreneur. Some of them are important people who help you make big decisions. Some have a crucial impact on your business.
Your dressing changes the way people perceive you. All in all, fancy clothes can undoubtedly help you leave a mark and make more money.
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5) Entrepreneurs wear multiple hats
A misconception about the life of an entrepreneur is that you do what you want to do. You live your dream; you are the boss.
While entrepreneurs do have a lot of fun, there’s also a lot that they are involved in.
Running a business requires you to have an involvement in everything. This could be in branding, marketing, client acquisition, human resource management, operations, and financial management. Most entrepreneurs don’t expect this yet this is the truth.
6) Entrepreneurs must always close deals
Entrepreneurial life is dependent on deals. If you are not closing enough deals, you are inching towards the reasons for failure.
Entrepreneurs need to get aggressive about closing deals. They need to work harder on every deal because that is business.
They need deals to stay alive, make money, and continue their entrepreneurial journey. Your success depends on closing bigger, better deals. Put your time and energy into prospects with the power to make large investments and introduce you to others who can do the same.
7) Entrepreneurs deal with legal issues
An entrepreneur is not only the co-founder but also the lawyer of the company. Various laws govern the world of business, and your organization must conform to all of them. So, you need to get an understanding of occupational laws, employment laws, incorporation laws, insurance laws, and more.
You need to deal with various situations and you must know how to handle different legal complications. Legal formalities aren’t only about a lawsuit or getting sued. There are many applicable laws that your business organization must obey.
Therefore, it isn’t easy to be an entrepreneur. The journey involves experiencing several ups and downs. But it also encompasses learning how to avoid them so that you can be successful in the end.
Life of an Entrepreneur: Sailing through Ups & Downs
When you know that you will go through several ups and downs as an entrepreneur, it is best to know how to survive them.
- Understanding that it’s normal to go through highs and lows, both in the long and short-term.
- Accepting the truth about ‘Overnight Successes’.
- Realizing that nothing is permanent – neither the ups nor the downs.
- Sharing your experiences, specifically the ups with others, to gain together and go even higher.
- Remembering what worked and what didn’t work in the past.
These five things can make the life of an entrepreneur stable with a steady climb upward. Of course, there will be a few challenges on the way but you’ll know how to deal with them.
The Truth About Overnight Successes
Many of us take instant success stories as a source of hope and inspiration. However, these just make matters worse. While it’s exciting to think of taking the easy escalator to reach new heights and achieve, keeping this expectation can soon get you to feel frustrated. Right up front, you must forget about overnight successes and instead, remain determined to encounter obstacles so that they are not a threat to your growth.
Some stories are true where people have been lucky to grow from nothing to everything in the blink of an eye. But the numbers are few. So, if you’re wishing for that to happen, you must think again and gear yourself up.
The life of an entrepreneur is about many ups and downs. You must prepare for the downs so that you can sustain and continue to grow the linear way.
If you are an aspiring entrepreneur, know that the entrepreneurial life is probably not how you expect it to be. If you are an entrepreneur, you know life is different from what you dreamt of it to be. You’re doing much more than you thought you would need to. But that hardly matters.
At the end of the day, you determine your goals and are moving towards them to achieve that big success. You are moving towards making millions from nothing.
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