Being an entrepreneur is always exciting because you will be your own boss, do things your own time, make a lot of money, and probably live happily ever after.
While some of these could be true, many entrepreneurs never achieve all, and this is primarily because they never knew what they were getting into. Before you quit your day job, here are 5 things no one will ever tell you about being an entrepreneur that you must know:
1). It Will Take Time See Returns on Your Investment:
Patience is key for entrepreneurs; a new business usually takes time to generate any real revenues. Sometimes it could take you between 6 months to 2 years before you even come any close to being profitable. As you convince people to patronize your business, your customer base will grow, and you’ll eventually start to see some returns on your investment.
2). You Can’t Do It All Alone:
You can’t be your own secretary, accountant, designer, manager, marketer, and many more all at once. Delegation is an important element of success in any business, if you’re going to see good results any time soon. Division of labour is very essential, you will have to divide tasks among the best people you can find though this may come at a cost-which you are trying to avoid as a starter.
3). You Must Become A Smart Hustler:
No one is going to lay a bed of roses for you to lie on. You’ll need to set goals for yourself on a daily, weekly, and monthly basis. And strife endlessly to hit your targets. For this is a key to your success as an entrepreneur. You have to hustle every step of the way. You might get rejected a lot, get disrespected a lot, and do most of the work yourself because, no one is going to be there to do it for you. It’s incredibly tougher when you’re just starting out
4). You Will Miss That Steady Paycheck:
Months without any income will make you wish you still had that steady paycheck you initially enjoyed. You’ll pay for the services your business. You will have to set aside your staff salaries also, and account for many other expenses. After a thorough disbursement of cash at the end of every month, you might have nothing left to yourself. At least, at the start of your business. But over time, things will change.
To entrepreneurs, many businesses end up as something else years after they were launched.
Customers might not appreciate the first thing you put out there. The service you render most likely won’t be what people really need.
But as you set out on your journey as an entrepreneur, you’ll begin to notice the hidden problems people experience every day, and how your business can adjust to take care of it.
Paying attention is key, and will determine if your business survives after starting out with something nobody wants