Know the price you will be paying for getting into entrepreneurship
Posted September 3rd, 2007 by Entrepreneur
" There are no free lunches "
If you know what are getting into then it becomes easier to face the situation. When you are getting into entrepreneurship then should know the following
- There will be no fixed or predictable income : You might not be making any money or may be making some money. Your income surely won't be fixed or predictable initially. Forget the feeling of getting a cheque from your company. Your bank balance might start going down instead of going up for some time. But remember you are not doing anything wrong, its an investment you are making for a better future.
- No paid leave or sick leave : Well now there will no 'so called' paid leave or sick leave. Even when you are sick you might have/want to work. When its your own venture most of the times you will want to work insead of "hav to " work.
- Kiss a goodbye to having fun with peers : When you are solo entrepreneur there are no peers who share the same perspective as yours. You might hire people but the truth will always be that you are the owner,responsible for everthing and they are the people working for you. If you are used to having coffee with your colleagues discussing office culture and politics , early weekends then its time to bid goodbye to all of it.
- Your employees can crib about the work place but you cant: You might be used to cribbing about everthing small thing at your work place but now there will be no room for that. Earlier if the email server was down , internet connection is bad , water is not hygenic, long working hours, lack of resources then you could have cribbed but now if any of these goes wrong you cant crib but your employees always will. Remember you are in different shoes now. You will start talking about the solutions instead of problems.
Having said all this , there is lot of fun too. With responsiblity comes power. If your responsiblities are increasing so is your power. Now you have the power to improve lot of things. Now you can do things the way you always wanted to. Now you don't get tired because you are doing what you like.