The Nitty-Gritty of being an Entrepreneur

Over the past year, I’ve highlighted several different entrepreneurs on the blog.  There is a special admiration that I have for anyone who’s had a vision, written the vision, and has made a blueprint of how they wish to carry out their dreams.  I truly admire those people.

What I do not admire is how people like to try to force entrepreneurship onto others. Honestly, nothing bothers me more than hearing someone say work for yourself and not for someone else. Reason being? It doesn’t work that way for everyone.  Also, the best leaders are those who know how to lead and follow and know when to do it.  Most will never learn how to follow if they are unable to take direction from someone else.  Besides any great entrepreneur will hopefully have workers under them one day so the whole “don’t work for anyone else” contradicts itself.

I want people to go into entrepreneurship for the right reasons and for the right reasons only.  I do not want people thinking they can be their own boss just because they are too lazy to get up and go to work. Entrepreneur and laziness do not mix, so if your only reason to being an entrepreneur is to not have to work everyday you will not succeed.  Being an entrepreneur is not easy by any means.  For me, I’ve always stated that I don’t believe being entrepreneur is for everybody.  When you’re an entrepreneur there has to be a passion there for your craft that runs much deeper than just liking or loving what you do.

But beyond that, there are some other important factors that I believe should be talked about more when it comes to being an entrepreneur.

Have you thought about the following?

  • Medical/life insurance – Paying for these services can be extremely costly out of pocket.  Have you taken care of your insurance needs?
  • Paying yourself – Everyone deserves and need a vacation.  How will you pay yourself while you’re on vacation.
  • Willing to work more than 40 hours a week – Most entrepreneurs will work more than 40 hours a week.  Are you willing to put in the work in order to make your business a success?
  • Retirement – Even for the 9-5 workers, retirement is dwindling down to almost nothing.  Have you thought about retirement and how that will look like for you whenever the time comes?
  • Taxes – Even with your own business you still must pay taxes.  Are you setting aside money just for taxes?
  • What sets you apart from others? – A lot of businesses fail because they do not know who they’re catering their business too and also because they haven’t figured out what sets them apart from their competitors.

In my opinion there is a much bigger picture to being an entrepreneur when you think about being successful.  Whether you’re working for a corporation or for yourself, it is important to weigh your options and your overall benefits.  I want people to take entrepreneurship seriously and not just use it as a term to cover your laziness for not wanting to get up and go to work.  I’ve seen some great entrepreneurs in my life that have really leveled up in the business and then I’ve seen some that have also fallen.  It is my goal that we all level up no matter how we gain our resources to pay our bills.  At the end of the day, if you’re striving for multiple streams of income, you can work your corporate job and still be an entrepreneur.  At least your medical insurance, PTO, etc. are taken care of.  But that’s just my opinion.

Are you an entrepreneur?  What are your thoughts?

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8 thoughts on “The Nitty-Gritty of being an Entrepreneur

  1. Entrepreneurship is a great way to work for yourself if you have vision, drive and determination. You must have all of those points taken care, insurance, taxes, etc. If you are doing it right, you aren’t living check to check, so PTO should be a thing of the past (this takes time, consistency and discipline! All in all, entrepreneurship is extreme HARD WORK, but very well worth it, if you put forth the effort! No room or laziness, this will lead to failure.

    Liked by 1 person

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