The Realities of Becoming an Entrepreneur in 2022

In February of 2001, I started what became my very first company.

Or, put another way, I became an entrepreneur.

The funny thing was I never thought of it that way until someone called me the "E" word. I just assumed I was another fella looking to fulfill a dream. A dream of freedom. Of making more and of doing it on my terms.

A dream I bet you have too.

While becoming an entrepreneur can be exciting and highly gratifying, it is super important to understand some realities before diving in.

The truth is, social media can make being an entrepreneur or business owner glamorous as the fun side is easy to capture and share with the world. Private jets, lounging on beaches, fancy cocktails in exotic locales. You've seen the pics and know precisely what I mean.

But hell, entrepreneurship and business are not always fun, easy, or as glamorous as that.

Viewing the entrepreneur lifestyle as easy and fun twenty-four-seven will only make it more difficult for you to do the work required to push through the grind.

So before you make that leap, before becoming an entrepreneur, read these four chunks of reality first.

Reality #1: It's wicked competitive

There are always rivals wanting to capture your target audience's attention when it comes to business.

Put another way; they're gonna wanna eat your lunch.

This means you need to be ready to bob and weave if you want to keep your customers eyes on your ball. This is why competition is actually healthy. While it can seem overwhelming and even scary, it helps keep businesses aware of their target audience's needs.

Competition keeps us on our toes. It keeps us innovating and updating our products or services.

Reality #2: It's not always a good times

It takes grit, determination, and a lot of work to run a successful business.

This is even more true for folks new to the game and are just getting started. In the beginning, it's you who will be doing all the work. All the grunt work. All the lousy work. All the work that must get done.

Teams will come, but that's later on. So remember, it's not always going to be fun and good times.

Reality #3: Overnight success is a lie

Every successful entrepreneur has had overnight success...ten years in the making.

I despise programs or coaches who have a foolproof plan to crush your first 6-figures in 30-days.

That's B.S. It's a social media shell game that makes success look like it happens overnight. Even if you already have some wins under your belt, it still takes time.

It's highly uncommon to reach your business goals within a year. The truth is, most businesses see a profit or a breakeven point within three.

To be a successful entrepreneur, be ready to do the work without any rewards in the early days.

Reality #4: Failure is a part of the package

You are going to fail.

You won't win them all.

Facts are facts, and you are likely to fail at some point. However, that doesn't mean you need to give up. Some of the most successful entrepreneurs create products that fail on purpose to understand their target audience better. Not something I'd recommend, but it is a great way to learn about your industry.

Not only that but not every idea you come up with will be a good one.

You'll have flops.

However, all it really takes is one good idea to be successful. Don't let a few failures get in your way. When polled, most business owners are thankful for their mistakes because they ultimately believe they wouldn't see their success today without experiencing failures.

You will learn, grow, adapt and overcome as a result of your failures.

The final word

Becoming an entrepreneur is a big decision, and it's essential to be aware of the realities of the lifestyle before diving in.

In addition, becoming a 'trep means entering into a competitive world with what seems like never-ending work, failure, and challenges that you must overcome to see success.

However, if you can handle these challenges and are ready to realize your dream, then blazing your own trail may be right for you.

Keep these four truths in mind as you make your journey to entrepreneurship.

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