You probably know some successful entrepreneurs and you are thinking why not you. Well, while there are successful entrepreneurs, there are a lot others who are unsuccessful. So, before you embark on this journey, you need to be sure you in it for the right reasons. As you will find out, entrepreneurship is a journey and sometimes a marathon. In this article, I will share some wrong reasons to be a business owner.
So, before you ditch your 9-5 for that business idea that you believe could “change the world”, ensure that you have the right reasons. This ensures that you stay motivated when things don’t go the way you plan.
So, what are some of the wrong reasons to be a business owner?
Opportunity To Solve Your Poverty Problem
Entrepreneurship is not an escape route from poverty. The truth is that some employees of multinationals are richer than thousands of entrepreneurs. So, if you are in for the cash only, you may be better off sticking to your job. The major reason is that, in your first few years, the business revenue may be inconsistent. And payday may not be certain. As a result, if you eventually decide to go on this journey, ensure you have enough cash to sort out your bills.
Escape Route From Your Annoying Boss
Also, entrepreneurship is not the perfect get-away strategy from your annoying boss. In the business world, you will find more annoying bosses. These can be your customers or even your partners. Some of your customers can even take up the nasty attitude of your current or former boss. So, when you meet these new annoying bosses, what will you do?
If this scares you, then it is a good thing. At least, you may need to appreciate and embrace your annoying boss. Moreover, you can use your relationship with your current boss as a litmus test to determine whether or not you are set for the real world of business.
To Escape Frustrating Job
One of the wrong reasons to become a business owner is to escape frustrating job. While your job may be frustrating, you likely have access to resources that can make you a success on the job. Whereas in entrepreneurship, you have to make available these resources for yourself and people that work with you. In a nutshell, you don’t work less, you actually work more, and the first couple of months could be really frustrating. Records show that most emerging ventures require a 16-18 hours of daily devotion from their founders with no hope of getting paid, especially at the early stages. So, if you are not cut out for long hours, think deeply before you take the jump.
To Be The Next Bill Gates Or Zuckerberg
There can only be one Bill Gates or Zuckerberg. So, you shouldn’t try to be like them. Because that will be limiting yourself, and what you are capable of achieving. If Bill Gates or Mark Zuckerberg had limited themselves, they probably would not be where they are now. So, if you decide to become an entrepreneur, set out to become the best version of yourself.
To Be Respected
Trying to accrue respect or prestige is one of the wrong reasons to become a business owner. As you will probably find out, not all business owners actually become the face of the business. Of every 10 prestigious entrepreneurs you may know, there are probably about 1,000 others working behind the scene. So, if this is one of your reasons for starting that business, you may have to consider shutting it down now.
Finally, entrepreneurship is time-consuming, and going into it with any of these reasons is like attempting to feed a million population with a teaspoon. It may consume you and ultimately frustrate you. And that’s why it’s important that before ditching your day job with benefits and retirement plan, define your purpose, and set your priorities straight.
And in case things do not go as planned, don’t be shy to pick up a new job, relearn and relaunch. Just don’t deceive yourself.
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