Friday, October 21, 2016

5 Reasons Why its Difficult to be An Entrepreneur

Everyone in the working world thinks that entrepreneurship is the way to go. It is a great option until you consider the challenges that entrepreneurs experience in order to put their business together. Here is why it’s difficult to be an entrepreneur.

You do not get time off with yourself
Entrepreneurs do not rest. They are either in their businesses or thinking about the businesses. This is unlike the career people who are able to get some time off after leaving the office for the day. Most entrepreneur’s spouses and families decry the lack of time to spend with their partners as they are always focused on their business.

You have to do everything
Before you have set up a team to look at different functions of the business, you will be forced to do everything from writing sales copy to invoicing customers. Of course, you may not enjoy all these responsibilities but you will be forced to do them.

You will not be able to stop yourself from doing it
It feels so awesome to be an entrepreneur. The idea of running a successful entity is a powerful magnet that gets you up and running each morning. Even in the cases that the business fails, you will find yourself picking up the pieces and trying it once again. It hurts to keep going to the same pain while you cannot stop yourself.

The government does not give you peace
The government will always be on the other side of the coin. It will keep blasting you with healthcare costs and tax increases on almost a yearly basis, permits, workers’ relations regulations, state audits of our business finances, compensation claims and so much more. You will spend much of your time trying to ensure compliance or negotiating with the government who has an upper hand in the negotiations.

There is always uncertainty
The future of your business is never guaranteed. What if there is a great slump in sales in the fourth quarter and you have a loan that you are repaying? What if someone comes up with a better product? What if a client sues me for injuring himself with my product? What if the bigger competitor tries to buy me off? Insurance does not pay for such things as reputation, acts of God, or any other uncontrollable thing that can damage your market. You live with this worry as long as you are an entrepreneur.