Entrepreneurship is nothing less than asceticism. If you are thinking of becoming an entrepreneur then you are actually being motivated by the fact that you will be your own boss. You may feel that entrepreneurship will bring financial independence in your life and you will have more control over your personal and professional lives. You may even feel that you will have people to work for you and when they are working, you can take a back seat.
But you must know the true picture before you realise your dream of becoming an entrepreneur. You must understand the mindset of an entrepreneur. You may be very creative and enterprising but you need to check the reality of what can be the possible dark side of becoming an entrepreneur. Firstly though, you need to analyse whether you are made for being an entrepreneur or not. For this, you need to have an answer in terms of yes or no for these questions:
- Does settlement in life for you is owning a house, marrying and having kids?
- Does career growth for you means promotion in terms of salary and job position?
- Do you find yourself conversing with your colleagues about entrepreneurship often but you hardly have taken any action in this direction?
- Do you think that money from entrepreneurship can be earned in the same way as getting money by false means?
- Do you think that earning monthly compensation is an indispensable part of your life?
If you have answered yes to any of these questions, then you are possibly not an entrepreneur material. You need to forget about living a comfortable life as initial years of entrepreneurship may be full of struggles. Career growth for you should be to become independent, financially and mentally. If you haven’t made a long research about starting your own enterprise, then chatting about the topic is a waste of time.
Moreover, you must first have your business ethics and your endeavour must be to provide the society with unique products or services. And if at all, you are completely dependent on your monthly salary, then you must know that an entrepreneur must not even think of such regular compensation as income in the initial years is not guaranteed.
For being an entrepreneur, you need to be courageous to embark on a journey where you can even face failures just to follow your passion. You must have positive approach to consider your every failure as a stepping stone towards success. So if you are still dedicated to become an entrepreneur and leave your comfortable job, then you need to read these important facts about dark side of entrepreneurship you didn’t know:
You May Start Doubting Your Credentials
Initially, failures are common while running start ups. But repetitive failures may make you feel demotivated if you are not stout-minded. Your mind will automatically focus on the problems rather than solutions. You may not be able to find the reason for the failures but since you have your repute at stake, you may feel that you were never capable to pull off your enterprise.
You May Get Frustrated Soon
You may start getting frustrated when you are unable to get the expected results. Since you have risked everything to pursue your passion, you may initially have to face money crunch. You may start the enterprise with the hope that you will kick it off with high spirits. But when you don’t get returns on monthly basis as you got earlier while you were having a job, then you get frustrated seeing unpaid bills and other financial commitments, which you are finding difficult to fulfil now.
Feeling Of Helplessness
When you doubt your skills, you are bound to be gripped by the feeling of insecurity or helplessness. At such times, you may be sceptical about the decisions you are making as you will be wholly responsible for the outcome. You will not have a boss or colleague who can guide you to take the right decision during adverse circumstances.
You May Become Workaholic
Being addicted to work has become an integral part of entrepreneurship. While you know addiction to anything is hazardous, you must know that your start up will require you to give all your time to it. You may get completely engrossed in your work as you want things to be done in the perfect manner and you strive hard to avoid any kind of loss which your start up cannot sustain. You start poking in every small and big job being carried out in your start up because you don’t want to leave room for goof-ups.
You May Have To Compromise On Your Health
Since you unintentionally give all your time to work, you hardly know when it is time to eat and therefore, you tend to skip meals. Or you may also become habitual of eating junk food that are easily available. You may not find time to jog or exercise and you may be least likely to pay attention to your health condition.
You May Suffer From Insomnia
Since you are risking many things just to follow your passion of becoming your own boss, you may always feel tension about what next should be done to give a perk to your business or how to avoid current losses or how to earn decent living while ensuring increasing investment in your start up. When you start worrying about these things, then you certainly feel less sleepy as you feel that more time must be utilised for work.
Your Social Life May Get Hampered
While you are so much getting engaged in your work, you may have to skip many social events and parties with friends or ex-colleagues. You are busy in building your business but you may not even know that you are compromising your social life that can actually help you in relieving your stress levels. In fact, being social helps in establishing new contacts and sources that can be beneficial for your business.
You May Not Find Time For Your Family
Most entrepreneurs would agree with this fact that they lost the wonderful time which they could have happily spent with their family, for working hard for their business to grow. With so many commitments and so much pending work, you may hardly find time to spend with your family. While family is your biggest stress buster and source of motivation, pursuing your ambition at the cost of disconnection with family members will add more difficulties in your life.