People like to dream about what you get when you choose to become an entrepreneur.
An exciting lifestyle.
The freedom to travel.
But what about what you give up?
Don’t forget to factor into those dreams all the sacrifices that one must make to become an entrepreneur.
You can’t wait to quit your 9 to 5, but you don’t realize that you are most likely replacing it with a 9 to 9 (and in some cases for 6 or 7 days a week).
You’re ready to take more vacations and work from anywhere, but if you don’t spend years hustling beforehand you won’t have the income to support it.
Even mobile phone app programmers and developers, which are in one of the hottest and fastest growing industries around, are still struggling to make a living.
You Have to Sacrifice Something
I haven’t met a single entrepreneur that didn’t sacrifice something when they were first starting out. Most often people give up a better paying job, health insurance, and retirement benefits but it usually goes much deeper than that.
Entrepreneurs often don’t have the freedom to “leave work at work”. I know many that are “always on” (myself included). They need to consciously force themselves to stop thinking about the work that they do because they enjoy it so much.
When you are trying to make ends meet as an entrepreneur it is also hard to give yourself time off because if YOU aren’t working than YOU aren’t getting paid or moving any closer to where you want to be.
Many others give up time with their family (the very reason a lot people think “working from home” is so great) or delay having kids entirely.
The same goes for owning a home. It’s much harder to get a loan these days when you are self-employed than if you are a typical salaried employee. Underwriters want to make sure you run a proven and profitable business over the past couple years.
And lastly, most entrepreneurs actually downgrade their lifestyle to work for themselves, not the other way around. They live with roommates or parents, eat ramen for dinner, or move to the cheapest countries in the world just so they can do work that matters.
All this to say: being an entrepreneur isn’t always glamourous.
You’ll need to give up something you want to do the work you are passionate about. (Tweet this)
What Have You Given Up?
What sacrifices have you made to become an entrepreneur?
Share them in the comments below this post.
The Top 10 Mistakes in Online Business
Every week we talk with entrepreneurs. We talk about what’s working and what isn’t. We talk about successes and failures. We spend time with complete newbies, seasoned veterans, and everything in between.
One topic that comes up over and over again with both groups is mistakes made in starting businesses. Newbies love to learn about mistakes so they can avoid them. Veterans love to talk about what they wish they had known when starting out.
These conversations have been fascinating, so we compiled a list of the 10 mistakes we hear most often into a nifty lil' guide. Get the 10 Most Common Mistakes in Starting an Online Business here »