Everyone wants to be an entrepreneur these days. Everyone wants to express their creativity, they want to make their own schedule, THEY want to call the shots… I want to show you from my own experience why you might be about to make the biggest mistake of your life.
I will try to reveal the common necessary traits of a globally successful entrepreneur / pioneer so you can identify if you have the same traits within you.
We can all relate to a rags to riches story.. we all want to believe that we can achieve the American dream we’ve been sold on, but at what cost? What on earth makes you think you are qualified to be an entrepreneur? Herein lies the problem, you are not interviewed for the position, you just one day decide “I am now an entrepreneur!” Well bravo… hand clap emoji…Let me ask you, what industry specific training have you done?
For the first 5 years an Entrepreneur needs to wear many hats, we all know that right? But have you ever stopped to think about what hats specifically you need to wear? If you did, maybe you wouldn’t be quite so rash. The reason you’ll need to do so many jobs is quite simple, you’ve got no fuckin money!!
Ok, ok you still think entrepreneurism is for you..Lets do a little Question/ Answer, just for fun.
What people think being an entrepreneur is , VS The first 5 years of actually being an entrepreneur.
“Why should I work this hard for a company that doesn’t appreciate me? I should just do what I do, but for me!”
Obviously the management in this company sucks. Leading businesses reward people that give 100% effort, but feeling unappreciated is no reason to be an entrepreneur, it is however a solid reason to find a new job. Learning all the skills required to be an entrepreneur will cost you more than you are willing to pay. You just don’t realize it yet. If this is the reason you want to become an entrepreneur Just go find a job with a competing company that will value your effort.
“I would like to stay home with the kids more.”
Awesome, you will end up locked in the basement for 12 hours a day screaming at the kids not to bother you while you’re working, You’re on the DAMN PHONE!! Either that or you cant get enough work done resulting in you not making enough money to feed the fridge raiding monkeys, seriously though, do kids ever stop eating??
“I want to set my own hours.. work less..”
I’m sorry but if you think that, then you are SERIOUSLY deluded. You will make ZERO money that way.. it’s a 24/7 grind.
Management and logistics: As you grow, you will have suppliers and staff members calling you all day long. I hope you have completed a firefighting training course because those fires need putting out…
Sales & Customer service: Clients are in a category all of their fucking own. A client will call you at any time of the day or night, you are expected to answer or face a “shitty customer service” Google review. Technology has made it simple for the client to contact you every time they want to throw the teddy out of the pram.. If they had a shitty day, believe me you’re gonna know about it via a barrage of texts at 9pm on a Friday night while you’re trying to entertain that hot date. (More about dating the entrepreneur in my ‘Love lost post” coming soon..) being a councillor is now a skill required for customer service.
You will work 10-14 hours a day and you are expected to be on-call 24/7. Let that sink in for a while..
Setting boundaries and dealing with clients is something ill be going more into depth with in a later blog post.
“I want to make more money”
I can’t answer this with a straight face.. You’re fucking with me, right?
The first month I did business I remember sitting in my brand new F-150 Pickup truck (that I absolutely could NOT afford, but hey! I ‘needed it for the job’… Someone punch me in the fucking face please…) doing some quick math, I stood to make $177,000 this year in profits.. That’s right, $177,000. (This was 7 years ago and I still remember the exact number because its so fucking ridiculous) Winner Winner chicken dinner!! ‘All day with that shit…’ Turned out I actually made $350,000 in gross sales.. and yet I still somehow managed to loose $30,000. You see I am an awesome salesman, but I got a D in maths..It’s a good job I can laugh at myself. You must be asking yourselves “how the fuck can that happen?” At the time I didn’t even know that it HAD happened. Why? No accounting skills. No idea how to use money. If you can’t control your own spending, stay the fuck away from running a business, you don’t want a piece of that action.. It will eat you up and spit you out leaving you standing homeless on the side of the road with a suitcase in one hand, a loaded gun in the other and a dumb-ass look on your face, Idiot boy here has no idea what just happened or why the fuck he is now homeless.
One of my most important Posts will be on Required Accounting Skills of Entrepreneurs. If you don’t understand why it’s the most important, re-read ^^
What I have learned about accounting has been very hard earned but are the most valuable things that I know. Everything (especially your sanity) revolves around the money. Income and revenue streams vs Expenses and overheads. Cash-flow, cash-flow, cash-flow.
The truth is, Entrepreneurship is NOT for everyone… I think the reason people are bold and reckless enough to quit their jobs is that they have no idea what they are getting themselves into. All they know is that they are fed up of being un- appreciated and underpaid. We want complete control of our lives. We believe that out of 8 billion people on the planet, we are uniquely qualified to create the next must have product or service and that rags to riches story that comes along with it. A life which matters..and one that will be remembered and studied. We are unique and we are using Entrepreneurialism to prove it.
In my next post I will conduct an interview exercise with you to see if you have what it takes to be an entrepreneur. Later on ill also be taking a look at a few well-known entrepreneurs, I want to know why people (including me) keep fucking idealizing them.