Advantages And Disadvantages Of Being An Entrepreneur

What I’m going to share with you is what I’ve learned through my lifetime of being an entrepreneur, as well as others I know in this world with established businesses. I haven’t been a business owner for my entire life, but most of my adult working life I have. The skills I’ve learned in my endeavors have been tremendous, and they are ones that I wouldn’t have learned without being the decision maker of the business. I’ve had to eat crow so many times, admit my flaws to myself and to clients, fire people, lose money. None of it has stopped me from knowing I’m on the right career path for myself. And by “career path” I mean entrepreneurship. It’s the most humbling experience I’ve ever had, and I’ve thrived in the growth I see in myself every single day, even when I think I’m going backwards or stagnant. As I’m writing this, I’m sitting with my laptop at 7:15 pm - you tend to work long hours when you want to be a successful entrepreneur. Work life balance is kind of a joke. But you know what? It’s so worth it. I’m living a life that only I could’ve created, and that is permitted by starting and perpetuating my own gig. Running a business has its pros and cons, yet it’s by far the most rewarding thing I’ve ever done.

Writing from Bed

For me, I’m an obsessed entrepreneur. I’ll literally do anything I have to in order to keep the proverbial lights on in my businesses, and at the top of my list is to not work for anyone else. My love for starting businesses is deep, and I do it for myself. There’s not a lot of thought about what someone else expects of me, and it helps me block out the noise of others’ opinions. When you’re an entrepreneur and business owner, you’ll notice how many opinions come your way. It’s up to you to know your north, look at your compass, and keep going. Otherwise, you’ll get lost and possibly not be able to find your way back to home base. Let’s talk about the advantages of being an entrepreneur, because for me there are many.

You Run the Show

I learned early on from working for my small business owner father that I didn’t like working for someone who had more control than I did. My ideas were constantly questioned, criticized, or dismissed, even though I knew they were good ideas. I bucked the system as much as I could until I got sick of it and decided to do my own thing. Now, with two successful business (and successful is subjective to each person), I love my work life. My working hours are what I want them to be and I have the ultimate say in every single thing I do. That includes anything from who I want to work with to what I want to write. Like this blog - I wanted to write it so I did. And I hope it’s going to help you.

The Success is What You Say It Is

My personal success isn’t making the most money. I’m a huge fan of money and what it provides for me, but I’m not driven my money only. When I’m comfortable in my life, I’m happy, and it’s typically a fine line of overworking and underworking, which is the natural ebb and flow of someone who determines her own income. In my real estate career, I created a very unique business model, one that was centered around community. The lowdown is this: I own a real estate company, and my favorite type of client to help is a person moving into New Orleans from out of state. When I noticed said clients had no friends in their new city, I started to host parties at my house to introduce them. It became my thing, and how I structured my business model that I pivoted into, which worked splendidly for myself and for my clients. Paying attention to what works and applying it brings success. Find what lights you up (and it could be money) and go for that. Bring your passion in full.

Variety is the Spice of an Entrepreneur’s Life

There is nothing worse than doing the same mundane thing each and every day for me. Being an entrepreneur has allowed me to work in and on my business, depending on the day of the week, and sometimes even the hour of the day. I never know what will happen from one day to the next. One day I’m wondering if I’ll ever make another dime, and the next I’ve got thousands of dollars coming in. The highs and lows can be real, and a very good skill to learn is managing them the best you can. Inevitably doubt can creep up on you, and you can get into things that the cons of being an entrepreneur far outweighs the pros, but you snap out of it really quickly after talking to a friend who’s driving into work and telling you how bored they’re about to be in the 8 hours they’re there. No thanks. I prefer to keep it exciting.

Creativity is Key

When I started to write, I didn’t know I could actually write (well). In fact, maybe I couldn’t write that well, but I kept going. Many times I just put blogs out there and knew no one would read them - I probably didn’t even want to when I was finished with them. As time passed and I found my creative voice, I realized that creativity was something I was actually letting out of my whole body and soul. It had just been suppressed for much of my adult life. Adulting has so many advantages, but we tend to have the fun taken out of it by others and then perpetuated by our own selves. My blog on the fun side of adulting is a creative piece for those of us who could use some reminders that life can actually still be fun, even when you’re “old.” I’ve also gotten better at photography, and problem solving, and even decorating in my home. Creativity is everywhere, and being an entrepreneur unleashes it every single day.

The Flex!

Being able to make my own schedule is not only flexible, it’s the biggest flex to being an entrepreneur. I’m not beholden to a corporation or entity telling me that the hours I work are what makes me valuable like I was in my old corporate job. I remember being told by my manager that, despite having completed all my work, I had to sit at my desk after because the “perception was reality” and it looked bad that I was up and about the office. Nearly losing my mind was a regular occurrence when I was being told how my value was earned. Now, I get to have the freedom to do my work when I want to do it, knowing I’ll always get it done. In order to be a successful entrepreneur, you must manage your time properly. If you can do this, you’re golden and you realize quite quickly that you never want to be told to work certain hours ever again. Even when you have a brick and mortar with set hours, your privilege is hiring others to do the work so you can do other things. This is probably my favorite thing about being an entrepreneur.

Personal Development is Inevitable

When you’re a person who chooses to open your own business, there is no getting around the personal development that happens when you go down this path. You learn things (mostly your triggers and weaknesses) about yourself that you never knew lived inside of you. The good thing is that it gives you the opportunity to look deep inside, make some really good adjustments, and carry on in a different and better way. Many good leaders I know are readers and inherent learners, and take advice from other people that they trust. Sussing out who the right people to take advice from is key, as you don’t want to take advice from someone who you wouldn’t want to trade spaces with, or at the very least admire in some way. The connection I have to other entrepreneurs and businesses owners is strong, especially the ones who can speak on the same level. We are a special crowd, and many times easy to spot because we’re always learning, always developing, and always leveling up in business and life.

Risky Business

Going into business for yourself is always a risk. You might have a great product or service to offer, and terrible business acumen. Maybe you have no faith in yourself. But…what if it does all work out because you have the faith and just enough delusion to make it happen? Risk is in all parts of our life. Whether we are driving in our car, skydiving, or investing in the stock market, we are taking a risk. Why not take a risk, or a gamble, on yourself if you have the tolerance?Likely that your ideas are good ones, and the world could use them. When I went into real estate, people said “there are so many realtors out there - everyone knows at least 10.” Fine, but they didn’t know me. You’re you, unique, and you have your own gifts to add to the world. I'm a huge fan of going for it, whatever the “it” is for you. Whatever that mental business plan is, sketch it out and see if it’s feasible. I started two businesses that didn’t cost me much to start, and the reward has been great. I’m not a millionaire yet, but I will be. I’m willing to bet on it, and on myself.

One of My Many Work Stations

You might be asking the wrong person this question because I personally adore being an entrepreneur. However, this is not a career path for everyone. Many people like a regular paycheck and being told what to do and how to do it. We can’t all be chiefs and we can’t all be Indians. There has to be both so the world can continue to rotate properly. While I’m not going to say entrepreneurship is the most perfect path, I will say that it’s for me. I want to acknowledge the disadvantages of it because to not wouldn’t be fair. There are always advantages and disadvantages to every situation. As I say about my best trait, it’s also my worst trait. Two sides to every coin. You get the idea.

When Does the Work Stop?

Owning a business requires a lot of things that might be unappealing to people who want to clock out for the day or the weekend. No one can control…well, pretty much anything really, and when you own a business that feels exacerbated ten-fold. You do things to put plans in place, and they blow up. Employees quit, customers leave you to buy an item for less somewhere else. You have to pick up the load and keep thinking of ways to be relevant. It can be a tough gig, and one that doesn’t stop when you want it to. I’ve spent many days working 12-14 hours, thinking I might actually lose my mind. But I don’t, and the next day I might have to do it again. Work time can be very fluid and intrusive at times, and that has to be ok for you. Mentally and physically and emotionally.

The Credit (or Blame) Goes to…

If things go sideways in your business, you’re the only one you can give the responsibility to. When you’re the owner and boss, this is your best and worst friend. In the times when things go well, it’s a high you could never imagine. When they go wrong, it’s the worst because you’re the one who has to solve the problem. I can handle both, and the key is to be as stoic as possible about the wins and the losses. Letting them come and go as they do helps you regulate the ups and downs more easily. I can always tell when business owners haven’t mastered this art. They are unable to accept the negatives and look to blame anyone but themselves. It’s a failing model, and one that doesn’t work in the long run. And when you gloat too much for the wins, you’re just arrogant. It’s a good practice to stay as neutral as possible, but do celebrate the wins. That’s important. And don’t get hung up on the f*** ups. It’s part of the gig.

Am I Alone?

The amount of times I’ve wondered if I’m the only one who…fill in the blank. When you own and run a business, it can be very isolating. Sometimes you don’t have people who you can relate to on a business level, and because the business takes up a lot of your life, you feel alone. Luckily I have found and surrounded myself with many other entrepreneurs and business owners, and it’s awesome to get into their heads and have conversations that I couldn’t have with non-business owners. We are a different breed, and despite people thinking they get it, they don’t unless they own a business. It’s a cool little club to be part of, so make sure to find your people who you can talk to about all things business, and it will inevitably bleed into personal because it always does.

You are Your Business

No matter how hard people try, separating their business from their personal life is somewhat of a joke. Sure, you can have hobbies that don’t include your business per se, but it’s so rare to be able to completely check out from your business. Even when I travel for fun, I am always looking at the trip from angles that I can write about because I love it. Many people open businesses because they’re passionate about something and love it, and you can’t help but sneak it into many areas of life. One of the advantages of being single is that I can spend a tremendous amount of time on my businesses, and no one is there to stop me. I supposed that’s also a not-so-great thing, as sometimes it would be good to put the keyboard down and stop writing. But hey, it’s my life, and I love it. Being an entrepreneur is a gift I’m not interested in giving back, so I embrace it.

Working with the Best Office Mate

Hopefully you got some good information from a real life entrepreneur, someone who has been in business for herself for a very long time and loves (almost) every minute of it. Yes, there are times where I wonder what on earth I’m doing, but mostly I’m enjoying the heck out of what I do. It affords me the lifestyle I want and feel most comfortable in, and I get to be the person who answers to me, not me answering to anyone else. My personal opinion of entrepreneurship is very high, and you’ll know if it’s for you or not. You know your tolerance. These tips will help you figure out just how interested you are in this career path. And no matter what, believe you can do it and get delusional. You are powerful and creative and capable, and I’m going to encourage you to go for it, whatever the “it” is. You can do this. Now go get it.

If you like this blog, you might also like the one about my top self-improvement books.

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