Entrepreneur: Living the Dream?

            Is being an entrepreneur all it’s cracked up to be? First off who wouldn’t want to be their own boss, make the big decisions, have people work for you, and be able to keep all the profits. So you start out with a great idea and develop a business plan. Next you spend a few weeks finding investors but it is well worth the time. Now the fun begins and you pick out an office building, hire some employees, and start making products or provide services. You know it is slow now but a few years go by and now you are really making good money. You take a vacation and upgrade your lifestyle now that you have made it. The business is basically running itself and life is good. You plan to just manage this business or maybe start a few other businesses. Life is great and everyone loves you.

The above is a sweet dream of what is taught in business school or is a fairytale told by business professionals who have never started a business from scratch. The reality is you struggle to find capital and then once you have it you find out that it wasn’t enough. The reality is that business school and work experience teach people of the entrepreneur fairytale. If you haven’t actually started a business on your own and by business I mean a corporation, not some mom and pop shop. Here is a list of what real entrepreneurs will experience…

1.      Hiding from debt collectors.

2.      Hiding from lawyers delivering papers.

3.      Going to court for debt collection or business issues.

4.      Going for months and even years without a paycheck.

5.      Having to explain why the investors’ money is all gone.

6.      Depression as you realize there is no way out.

7.      Stress and anxiety from…

a.       Daily business

b.      IRS

c.       Employee problems

d.      Trying to save your life savings

e.       Having no personal income

f.       And basically anything that can go wrong goes wrong

8.      Begging hundreds of people for money to start a business or to fund a dying business.

9.      Firing employees and dealing with employee issues.

10.  Personal relationships being destroyed

I have experienced all the above and I am just a core employee of a start-up company. Having family involved increases the stakes especially when it is a real business with a group of investors. I have worked for over seven years and have had periods where I had no income from a few months to two years and even picked up a second job all while attending college. The family aspect makes relationships tough as every day and every minute you are thinking or discussing the business. All of that being said it has been the best experience I could have ever had. I have professional experience far before most people my age, I have learned tough life lessons, and I understand business from the ground up. I have been paid next to nothing but I knew the risk when I started and if it makes it I am sure management and the investors will help to reward the hard work. Overall being an entrepreneur is far different from what is taught and the risks are extremely high. A true entrepreneur has skills that can only be learned and understood from the desperation of being an entrepreneur.