Entrepreneurship: Behind the Scenes
Entrepreneurship Isn't as Glorious as you'd think!
1.5 years ago I left my sales career as a ‘Professional Employer Consultant;’ since then I’ve adopted the role of a ‘Nomadic Entrepreneur.’
Luckily, I have been able to work remotely around the world and experience so many things I’ve always dreamt of doing. My sales career afforded me the opportunity to save so that I could focus on my Travel Blog and launch my Airbnb management company. Having the freedom to work towards my goals and for myself was the best feeling. Regardless of how little I made, I knew I was building MY empire, and was happier than before. I had many generous offers to return to my previous industry, but to me it seemed THAT would be failing. Even when my business failed.
Owning a business is just like having a child, they always come first. All monies earned should be used to reinvest and/or pay off all dues prior to taking your own compensation. Personally, I was okay with that because I had saved a years salary to do so. I do not recommend quitting your full time gig unless your new venture is already profitable or you have a large savings.
There will always be trials and tribulations in any business. However, it really sucks when they are costly, and 99% of the time they are. I believe these were the toughest times because it tested how well you can learn from your mistakes, focus on solutions and persevere. The lessons I’ve learned and improvements I’ve made as a result are the reasons I have no regrets.
Recently, a friend sent me an article ‘The Psychological Price of Entrepreneurship” and it felt refreshing to know I’m not the only one whom juggles with the rollercoaster of emotions. According to the article, Entrepreneurs struggle silently as they don’t want to be weak. There are many nights I’m in bed thinking of all the things I’ve yet to do, worries about money, strategizing next moves etc. So as glorious the title Entrepreneur sounds, it’s doesn’t always accumulate to wealth. Even when it does, there are a tremendous amount of obstacles to overcome and sacrifices made. Ensure you are willing to accept this if this is your path.
Thinking back to my last job, I often calculate how much I could have potentially made within this 1.5 years and feel like I’ve lost my mind! But, as Steve Jobs said, “Those who are crazy enough to think they can change the world usually do.” So I keep pushing along.
I don’t want to put you off from chasing your dreams but I do have recommendations for those interested in becoming an Entrepreneur…
- Have a Plan. You can only grow as tall, as your foundation is deep. Business plans, organizational charts, product design, revenue metrics, task planners etc. Stay organized and systematic with administrative operations despite that they may not be revenue generating activities; they are needed.
- Be Teachable. Understand that you may not know everything. So have a willingness to learn, take additional courses, hire an outsourcing company or consultant with specialized skills if needed.
- Have a willingness to change, to give up, to sacrifice. You’ve just given birth to a business… time is money so become obsessed with your work. You must love what you’re doing because you will need to Live and Breath it until it’s mature enough to fly on it’s own.
- Keep goals (long/short term) front of mind. Make a dream board. Never loose sight of why you started.
- Have an incredible support system. Surround yourself with those whom believe in you and your business. There will be dark days, you’ll appreciate people whom put you back on track. DO NOT mind other’s judgmental opinions, they’re most likely jealous they don’t have the courage to pursue their own business.
- Financial Security! I was once told ” Use Other Peoples Money.” Create an investors decks and pitch others to invest. It’ll be great practice to see how sellable your business actually is. AND as mentioned, have a savings to live off of or ensure your business is already profitable before quitting any jobs!
- Stay positive and persevere despite all obstacles that come your way!!
I rarely speak of downfalls because I don’t want to come off negative, but I’m being honest. Wishing you all the best! If you have any questions feel free to Email or DM me on Instagram!