Pop culture mythology is full of entrepreneurial unicorns – these semi-urban myth creatures who start a tech company and 6 months later sell it for millions or billions of dollars. Many hopeful budding entrepreneurs see these news snippets and falsely believe that entrepreneurship, if done the “right” way, can make them fabulously wealthy in no time at all.
If you are considering a career as an entrepreneur, you will essentially doom yourself to failure if you think the world of business ownership is quick or easy. It just isn’t.
Believing you can enter business ownership and suddenly vault yourself into fabulous wealth is a dangerous way to enter a reality where hard work and perseverance are the only keys to success.
Want the cold, hard truth of entrepreneurial unicorn stories?
Owning a business is tough.
If you own a business, the buck stops with you. Even in a larger business with a management structure and many employees – you are ultimately responsible for the success or failure of your business. Business owners work long hours, can have high levels of stress and don’t always make tons of money (especially in the first few years). You need to accept that becoming the master of your own destiny by working for yourself means you need to have the drive and grit to get the job done.
You probably won’t get fabulously wealthy.
We all know the names of the entrepreneurial NFL quarterbacks like Zuckerberg and Jobs – but just like the chances of any high school football player making it to the starting lineup on Super Bowl Sunday, most entrepreneurs don’t become billionaires. This is not to say, however, that you wouldn’t make a good living owning your own business. If you work hard you can absolutely make a decent amount of money and have a good quality of life. Keeping yourself grounded in financial reality will keep you eye on the right goal – growing your business – instead of chasing an impossible scenario.
Owning a business can be very, very rewarding.
Even though entrepreneurship is tough and probably won’t make you a multimillionaire, the benefits and rewards of owning your own business make the journey completely worth the effort. Owning your own business means you get to be your own boss. It means every dollar you make, you’ve made for yourself and not someone else. It means you have the flexibility to set your own schedule. It means you get to be the master of your own destiny. It means you get to wake up every morning and do something your love to do. The benefits far outweigh the effort it takes. Just head into the world of business ownership firmly grounded with realistic (and non-unicorn) expectations and you have a far better chance of success.
Are you thinking about becoming a business owner and have questions about how much money you can make when you own a business? Would you like to know what types of businesses are currently for sale in your area? Ask us! Please feel free to leave us any comments or questions and we would be happy to help.
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