Disadvantages Of Being An Entrepreneur And How To Get Over It

Jennifer Kushell is one of my favorites in terms of goal setting, you can read her book entitled “Secrets of the Young & Successful” and learn about how to reach your goals fast and efficiently. A friend of mine told me she also published a book entitled “The Young Entrepreneur’s Edge” way back in 1999 where she discusses the steps towards becoming a successful entrepreneur and I came across a section where she points out the disadvantages of being an entrepreneur. If I had read this one six months ago I might have avoided it, but I still feel it is a blessing to go through all those mistakes because the lessons tend to stick when it is learned the hard way… I’m glad she included a couple of tips to avoid it so I’ll be prepared the next time it happens.

Disadvantages of Being An Entrepreneur and Ways to Get Over It

1. Lack of Credibility – I’m quite used to this because as a young entrepreneur you will be stepped at every time the big players are around. But there’s nothing to worry, it’s part of the process of growing. Get around this roadblock by:

• convincing others that you are worth a chance
• align yourself with people who has credibility
• become someone important
• know what you are talking about
• do what you promise to deliver

2. Lack of Maturity – this comes in with a price tag of “pissed-off clients.” The only way you can get out of this is by being professional and I believe this needs time to develop through experience.

3. Lack of Experience – everyone has to start somewhere and that somewhere for me was zero. I want to become a established motion graphics artist and put up my own studio but my degree diploma says I was trained to be a Biologist. And I worked my way up the ladder of experience, often crashing back down along the way but nothing can stop me. It’s quite good to know that some of Kushell’s tips I’ve done personally even before I read the book:

• work for someone who has experience even if it is for free
• read everything you can read about your industry
• attend classes and seminars
• join related associations and organizations
• build any related, yet indirect skills (you can learn photography even if your major field is writing)

4. Overeagerness – I paid the price dearly for this… When clients come in, you get the feeling of being powerful and invincible that you start to forget that there are much more to learn. You’ll know it when clients are starting to call, and you’re behind schedule, short of budget, and exhausted to death… These are the things you might want to avoid if they ever happen to you:

• hiring people prematurely
• overspending on the assumption that it will be created anyway
• getting involved in projects without the necessary skills
• taking on too much responsibilities
• appearing too anxious about the project
• openly admitting you lack the experience
• not taking time to be properly trained
• not taking time to plan the business
• neglecting to write a business plan
• ignoring advices of skeptic people

5. Isolation & Loneliness – I never felt this way since my wife has been very supportive to all my projects. And besides, I like working alone most of the time, it makes me feel secure that everything is in place and under my control. But if this is something that scares you the most, you might take note of the following:

• maintain communication with the most important people in your life
• be honest with people close to you when you are having a hard time
• make sure you have a solid group of mentors

6. Lack of Leadership – perhaps the most important of all. Nobody will buy your product or follow your instructions unless they sense the leader in you. Develop this early in life and you’ll have an edge over the others, even if they are more skilled than you are…

7. Difficulty Motivating Yourself – this was a major problem I had to deal with. I ended up lazy on my second month with nothing but savings and no clients. Having so much time in your hands can be very dangerous for you and your business so be careful. Here are some tips to get you going:

• get into a strict routine
• schedule early morning meetings
• pack your schedules with appointments
• do things right away, don’t procrastinate
• take advantage of time when you have the energy
• place in a small reward system for yourself
• have other people work with you
• remind yourself of your purpose consistently

Wow, that was a long list and I hope you’ll find something useful in it. These will only be disadvantages if you allow it to, remember that the road to wealth will not always be as easy as you can tolerate. But as long as there are people like Jennifer Kushell guiding us, we will get through it just fine…

ONWARDS!!!