Yes, there are a multitude of positives to being an entrepreneur but there as also a number of caveats that have to be taken into consideration as well.
Probably the most important would be the realization that being self employed means that the paycheck will not be in the mailbox every two weeks. No, when it comes to income there will be some volatility.
That is to say, some weeks you will earn less than you will other weeks. Of course, there will be weeks when income rides high but there will be other weeks were earnings may be very low. Hopefully, by the end of the year revenues will yield an excellent income. As such, it becomes important to accept the fact that there will be ups and downs when it comes to being an entrepreneur.
It is very easy to be thankful for the up periods, but being accepting of those down periods will require a little more discipline. If you are disciplined, however, then you can survive through the lean periods and accept them without needless worry and stress. Ultimately, it is the ability to survive through adversity that makes an entrepreneur successful and this ability to persevere needs to be strived for.
2 thoughts on “The Ups and Downs of Being An Entrepreneur!”
Srini,
Great Advice. Many new Entrepreneurs “overlook” this important part of working for themselves.
I think another issue – with owning your own business – is the fact that you are “It”.
It’s your responsibility to keep it running, increase business and revenue, oversee employees, keep the business on track, communicate your goals, learn, etc. etc. – all the while being a positive leader.
Most people will have ups and downs regarding their belief in themselves, they might even question themselves if they can do this job.
I think this is just another ‘up and down’ of being an Entrepreneur – and just like planning your budget due to your fluctuating income – planning for periods of doubt, stress, etc – will greatly improve chances for success.
Hi Sabine,
Great points.
At the end: They say everything in life is inside you. It’s a mind game after all.
-Srini