I often get asked what it’s like to run my own businesses. Also they tell me their visions of running their own business. This inspired me to write my thoughts about the subject. So, if you’re thinking about starting a business please read this.
My Experience with Entrepreneurship
I started doing business about the time I started High School. I ran a small computer repair gig. This really helped me get a grasp of the concept of business and how what I was doing wasn’t going to cut it. Forward four years later when I graduated. I had more experience, not just in computer work but business as a whole. I had a plan to take what I knew and evolve it into something actually viable. One of the books that really helped me was E-Myth Revisited. It made me really think about what I was doing. I knew I needed even more skills. The next two years I would learn in the school of hard knocks. Time that I had to mature as an individual to take things to a new level.
Not only did I have to do work as a tech, I had to learn the administrative end of my business, learn to do sales. I also had tasks like graphic design, web development, and more that I had to all take the time to learn and improve over time. I read hundreds of book, listened to podcasts, and watched hundreds of hours of videos to learn a multitude of skills in a short period of time. This was the work that many don’t realize. After all of this I’m still working hard. I still have much more room to improve. I continue to improve and learn new skills. That is something you’ll have to do forever to stay ahead.
As far as the business itself, I got my first few clients. It really helped put my skills to work. Learning on the job was really stressful yet exciting. It also gave me so many insights that just reading alone could ever do. However this go for it approach is also pretty risky. I’m fortunate that I had clients that knew I was trying and gave me the opportunity to grow.
As it stands I still run a “job” and not a “business”. This is the reality when you are the sole proprietor. This may change soon as I’ve taken the E-Myth seriously.
The Truth About Entrepreneurship
When starting a business, it can really change your life. For good or bad. I was fortunate, I knew many people who’ve helped me along my journey. Do you have such a network? Do you have the money? I don’t care what anyone says you DO need money to start a business. Also, have you considered the costs? This time I don’t mean monetary. The costs I’m taking about include time, energy, family, friends, etc. I have had to sacrifice a lot to run my businesses. This includes time with my family, friends, and basically entire loss of my social life.
When running a business you’ll lose everything you’ve been used to in your day to day life. Time spent on the business vs going out with your friends. Losing sleep because you’ve pulled an all nighter. Getting anxiety because of finances. This is just getting started. When you are actually in the thick of it, figuring out how to scale your business more problems arise.
It’s extremely challenging, and sometimes is not fun at all. You have freedom, but at the same time you’re more chained-up than ever. Is it worth it? It varies. For most people I would say to get a normal job, save up and be happy. For the other five percent, I commend you for risking everything. The rewards can be great but the risk is high, and most people are not fit to handle the mentality it takes to be successful on their own. That isn’t just my opinion. That is the truth.
If you choose to start a business, stick around. I’ll be talking about other subjects that might help you. If you don’t start one, stay as well, there are other topics that might be worth the stay.