Every aspiring entrepreneur starts out with a great idea. Some people turn this idea into a side hustle and sell a small amount of their product or service, while others succeed at expanding their businesses quickly and widely. However, many quickly discover that running and growing a business is hard work and may struggle to sustain their fledgling startup.
Those who have business ideas that start off slowly may wonder if the struggles they’re facing are obstacles that can be overcome. Below, 10 members of Young Entrepreneur Council weighed in on some reasons why someone might not be cut out for entrepreneurship.
Young Entrepreneur Council members share reasons why someone may not want to pursue entrepreneurship.
Photos courtesy of the individual members.
1. You’re More Interested In The Idea Of Entrepreneurship Than The Reality Of It
The idea of being an entrepreneur seems sexy, but most people don’t appreciate the reality that comes with that title. The lifestyle, family or work-life balance goals and expectations might not match with the necessary grind that comes from being the “Chief Everything Officer.” It takes a lot of resilience, self-awareness and introspection to figure out if entrepreneurship is right for you and, unfortunately, many find out too late that they are more interested in the idea of owning a business than the reality it comes with. – Christopher Tarantino, Epicenter Innovation
2. You Can’t Meet The Demands Of Running A Business
Entrepreneurship is not for everyone simply because of the demands it makes of the person trying to make things happen. It requires taking a level of risk most won’t enjoy. It takes giving up joys now in the hopes of greater things in the future that may not show up. Deferred gratification is not something people naturally do well. It requires you to give up on your social life and personal life, take on levels of stress and still believe and hope even in the greatest depths of despair. Each of these can take great mental and physical tolls—tolls on relationships—and in the end, not everyone can cope with these tasks. Everyone is not meant to be an entrepreneur. People are different. Everyone has their own strengths and skill sets, so be honest with yourself and find your own path. – Ridaa Murad, Breakform RE
3. You’re Not Comfortable With Being Uncomfortable
“Anyone can be a successful entrepreneur as long as they work hard!” Nope, wrong. If someone gives you such terrible advice, turn and walk away quickly. Being an entrepreneur is wildly different from being a successful entrepreneur. You’ll want to be equipped with the proper set of skills or education and thick skin to become the latter. Get comfortable with being uncomfortable all the time. Entrepreneurship is a long and lonely journey until you actually “make it.” Very few people (other than your mother or favorite cousin) are going to encourage you along the way. In fact, your own family might be your most prominent critic. So prepare to oppose and reject the disheartening feedback and opinions and plan on flying solo for the first few years of entrepreneurship. – Maria Giacobbe, GUS Health
4. You Struggle To Accept Failure And Change
Great entrepreneurs embrace failure and then quickly adapt to it. Failure is a cornerstone of being an entrepreneur. Your life continuously evolves, and so does your business. What an entrepreneur might originally think of as a business idea will need to evolve and change at various levels. If someone has a hard time dealing with failure and is stubborn to change, then they will most likely not make it as an entrepreneur unless they have a great support team that can make the tough decisions. – Daniel Gaul, Digital Trends
5. You Can’t Ask For Help
The most common challenge I witness with entrepreneurs is the inability or unwillingness to ask for authentic help. Most of the time, there is a huge support network that is rooting for your success, but oftentimes the entrepreneur is not willing to admit that help is needed until it is too late to be proactive. This is often framed in terms of seemingly healthy frameworks like “I wanted to protect the intellectual property,” “I didn’t want to show weakness” or “I didn’t want to make my customer/partner nervous.” Seeking help is not only a way to mitigate problems before they become catastrophes, but it also makes you more authentic and likely improves relationships with all stakeholders. – Douglas Hutchings, Delta Solar
6. You’re Stuck In The ‘9-To-5’ Job Mentality
When you are working for yourself, you are always working and you are never working. You have to be ready to eradicate the 9-to-5 job mentality. There are emergencies and last-minute calls, weekends might often be dedicated to work and you might be dreaming about a vacation while you sleep—maybe 4 hours a night. But don’t worry, you will want to do all of this. Being your own boss is just the best feeling in the world. You will want to do the extra hours because in the end you speak and breathe about entrepreneurship and its freedom. Again, remember if you are not cut out for the unsavory life, it is not for you—even though, what is stable nowadays? It might be time for you to actually take the leap of faith and become an entrepreneur despite your fears. It is so worth it! – Simonetta Lein, Ausonia Partners
7. You Avoid Risks At All Costs
Entrepreneurship is definitely not meant for everyone. If you are the type of person who tends to avoid risks at all costs, then you should probably not choose this career path. More than half of businesses fail and risk is what drives a lot of us entrepreneurs to work harder for that reward, which ultimately will be much greater than the initial risk. This is what makes this job so satisfying. – Anna Anisin, Formulatedby
8. You Can’t Balance Profit And Purpose
To be successful, you need to have profit in the business, but you also need to have a purpose. Having only one can hurt your growth. Entrepreneurs who only focus on taking money out of the company can hurt the ability to expand and potentially also their employees’ outlook. Companies solely focused on their reason for being in business may end up not focused on that bottom line, which is needed to stay in business. A healthy combination of both can be achieved. – Marjorie Adams, Fourlane
9. You Don’t Like Solving Problems
Business is all about solving problems. Whatever category your business falls into, you need to figure out how to attract customers. That means finding out what problems people have and solving them. To thrive, you need to be the type of person who doesn’t run from their problems. You need to be the sort of person who loves solving problems. If you can’t do that, you are not an entrepreneur. – Chimezie Emewulu, Seamfix Limited
10. You Can’t Stand Instability
The instability can be unnerving for many. It’s easier to operate when you have a consistent workload, predictable problems and a steady income. As an entrepreneur though, each day can come with uncertainties that can be extremely disorientating for most people. To be able to overcome this, you’d really need to develop a higher risk tolerance or you’d want to build in a variety of safety nets so that the uncertainty and the consequences of pursuing entrepreneurship are easier to manage. – Firas Kittaneh, Amerisleep Mattress
Source by www.forbes.com