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Entrepreneur LifeIf you've made the leap into entrepreneurship then congratulations! If you are
thinking about becoming an entrepreneur then you need to keep reading this
because I'm going to tell you about what life is like as an entrepreneur from an
insider's perspective. Most of the time entrepreneurs find that life is very different in several ways than
that of an employee's. I definitely do. Some of the things that are usually different in
an entrepreneur's life are responsibilities, feedback, time management, cashflow,
and potential.
Responsibilities
As an entrepreneur your job description could go something like this… "Brian
Watkins - Responsible for taking care of EVERYTHING!" That's right! Especially when
you are just starting out, your responsibility in your business may be to do
everything. Your non-entrepreneur friends are definitely not in charge of handling
the entire business of the company they work for. Be proud of it. It can be tough but
sometimes it is necessary in order to reach the point where you employ others who
handle everything for you. I've spent a good amount of time in the "Do Everything"
position and am finally transitioning into a position where I can hire others to
handle certain tasks for me. Feedback
As an entrepreneur you are taking a non-traditional path. When you veer off of the
beaten path of being an employee you tend to get some special feedback from
people on your decision. Most people will be very supportive of you and wish they
had been like you when they were your age. The younger you are, the truer this is.
On the other hand some people will turn your entrepreneurial dreams into a
negative. You will come upon these people at some point. Ignore them. In fact go as
far as feeling sorry for them and tell them that you do. These people are pessimists.
They consistently see things worse then they really are. The bad thing is that
sometimes these people can be those who are closest to you. Keep your mind
focused on the positive encouragement you've received and ignore the pessimists. Time Management
When and how much time you have to commit to your business venture is going to
depend on the current state of the business. Unlike most jobs this can be very
volatile and unpredictable. This goes double if you are handling most of the work in
the business. There may be times where you have to work really long hours and
sometimes pull all-nighters on occasion. Certain business situations don't just
affect you like school work does and your business may need you past the normal
amount of working hours of your peer's W-2 jobs. But a benefit of this volatility is
that sometimes you can be flexible and work your business tasks around your
personal life. Cashflow
Cashflow for entrepreneurs is a variable. You don't have a steady paycheck to count
on. I'm totally okay with that. Sometimes you will have more money in your hand
than you need and sometimes you won't have enough. You may make $100 one
week yet make $5,000 the next. Keep close tabs on your cashflow so your business
can remain stable. Potential
One of the sweetest things about entrepreneurship is that your financial potential is
unlimited. This one of the core reasons why I chose to be an entrepreneur. Those
that choose to make a career out of working for others rather than having others
work for them are automatically placing a limit on their earning potential. There you have it! Those are some of the real differences involved with the life of
entrepreneurs. Overall these differences in responsibilities, feedback, time
management, cashflow, and potential add up to an extreme advantage for capable
entrepreneurs. Brian Watkins shares business advice through Young Wealth Weekly, an ezine targeted
to young entrepreneurs: http://www.youngwealthweekly.com
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