By Leticia Guerrero
THUR 12 AUG, 2021-theGBJournal- Who hasn’t dreamed of starting their own business?
Whether you’re fresh out of high-school, or begrudgingly working away at a 9 to 5, the idea of becoming an entrepreneur, setting your hours, delegating and outsourcing tasks, and working for yourself rather than a boss often seems like the best dream imaginable.
However, there’s a dark underbelly to the world of entrepreneurship that most people don’t know about.
Below, we’re exploring the things that nobody tells you about the world of small business ownership.
It’s Scary
There are obviously many benefits and advantages of operating a small business.
But one of the worst parts is that you’ll most likely be quitting your job to focus on launching and operating your business.
And that can be pretty scary!
To become an entrepreneurial small business owner, you’ll be leaving behind the world of hourly wages and guaranteed hours.
There won’t be anybody there to hold your hold, train you, and explain what you’ll be doing next.
The fact is that business owners wear many different hats. And for many, the prospect of having no guaranteed income, no set hours, and no day-to-day guidance is simply terrifying.
It’s Lonely
Whether you decide to launch an online business or open a brick-and-mortar storefront, it’s crucial to understand that the world of entrepreneurship can be lonely.
While your friends and family leave for their jobs in the morning, you’ll be left alone to focus on earning your income and maintaining your business.
Of course, this can be fun and challenging for many people, especially if you genuinely have that entrepreneurial spirit.
But, it’s critical to keep in mind that it will become increasingly difficult to talk to your friends and family about your business while they’re still working for other people.
Most often, this isn’t because anybody wishes you any harm or ill-will.
But it’s simply because they don’t understand the world of business ownership or what it takes daily.
That said, as a business owner, it’s essential to find a community of like-minded people where you can turn for help, support, and encouragement.
So, if you ever find yourself feeling lonely, check online and on social media for groups of business owners and entrepreneurs. Join in the conversation and make friends with people who are in the same boat as you.
This way, even if you find your family and friends aren’t quite as supportive as you’d hoped, you’ll still have other places to turn for that much-needed help and support.
It’s Low Pay
One of the biggest draws of starting a business is that people want to earn money for themselves rather than for somebody else.
However, people usually won’t talk about the fact that it can take weeks or even months before your business will start to turn a profit.
According to one study, on average, businesses need between 18 to 24 months of operation before they begin to see any profits.
Initially, there’s a lot of overhead costs, such as logos, branding, advertising, etc. You can reduce costs, and create your logos online using tools, such as LogoCreator.
Therefore, until your business gets to this point, you need to understand that you might only receive minimal pay at first, even as the owner of your business.
What They Won’t Tell You About Owning A Business
In the end, many things make business ownership one of the best things you can do with your life.
However, many challenges, hardships, and obstacles will lay in the way of your success.
That doesn’t mean that there’s anything negative or wrong with being an entrepreneur. But it does mean that you need to prepare yourself and understand that owning a business and reaping the benefits isn’t as easy as it may seem on the surface.
Still, owning and operating a small business can be a fun, exciting, and rewarding experience through hard work, dedication, and time!
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