Are you thinking about becoming an entrepreneur but not sure if it’s a viable career option? It makes sense to be cautious. Being an entrepreneur isn’t like most other careers. Only a portion of what you need to be successful can be taught in a classroom. Still, if entrepreneurship is in your nature, you might as well explore it while you’re young because it won’t leave you in peace. Here’s what you’re in store for.
Examples of Successful Serial Entrepreneurs
There are lots of good role models to inspire you. Toby Scammell is a serial entrepreneur who successfully founded Womply and co-founded Feastery. His strong business background and college degree must have certainly given him the business skills he needed to succeed.
Wayne Huizenga founded Blockbuster Video, AutoNation and Waste Management. Wayne opted to drop out of college, so you can see there are multiple paths to becoming a successful entrepreneur.
Pros and Cons of Being an Entrepreneur
The biggest pro of being an entrepreneur is that there is no limit as to how successful you can become. If you take Jeff Bezos as an example, consider how he transformed a tiny bookselling hobby into the mega-monster business he runs today at Amazon. The only limitations you will have are your own energy and resources.
The biggest downside of being an entrepreneur is that there is no definitive path to success. You have to forge your own path to greatness, and it’s a jungle out there. It will be entirely up to you to find your way.
The Lifestyle of an Entrepreneur
Entrepreneurs work long hours; many more than people who hold a traditional job. Entrepreneurs can live anywhere in the world since they typically work out of their homes. If you find working from home too isolating, coworking or shared office space may also be an option for you. As DaVinci Coworking points out, coworking spaces have many of the benefits of working in an office, while still allowing you to run your own business.
There isn’t a regular paycheck arriving each week, so the financial situation of an entrepreneur is often tenuous. The stress of not having enough money and the daily small successes and failures can be overwhelming and disheartening. Entrepreneurs don’t work regular hours, either. As an entrepreneur, you’ll be working nights and weekends. Don’t expect to get a restful eight hours of sleep each night. That likely won’t happen.
The truth is, if you have the strength, courage and mental compass to support yourself financially as an entrepreneur, very little will stand in your way to eventual success. If you’re still considering becoming an entrepreneur after understanding all the potential pitfalls, you just might have what it takes to be successful.
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