All entrepreneurs start out with big dreams and excitement. Entrepreneurship lets you control your own destiny, and with the right tools and skill set, you can build wealth and establish an enterprise that will serve as your legacy.
That is the bright side of entrepreneurship and unfortunately, there’s also a dark side. Entrepreneurship demands sacrifice, and if you don’t know those sacrifices, you will never be able to succeed.
These are the five sacrifices that every entrepreneur needs to make to be successful:
Stability: Entrepreneurship is an unstable path to follow, by nature. Do not be surprised to face several unpredictable shifts in your fortune as work progresses. It is natural and part of the process, so be prepared for it. Eventually, you will work hard with a clear vision, and then things will stabilize.
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Work/life split: The lines between your personal life and work will blur when you become an entrepreneur. There is no running away from it. Remember that you still have to find a balance that works for both your work priorities and your personal ones. Always make time for your family and your mental health.
Income: This ties in with the stability sacrifice, but for the first few years after you launch your business, you will probably not make a lot of money, and you have to be prepared for that. You will need a strong marketing plan to overcome barriers to entry and gain a share of the market in your industry.
Sleep: Sleep is crucial to your overall health, but no matter how hard you try, you will still find yourself losing sleep in order to run your business. Whatever the case, your sleeping habits are going to change when you become an entrepreneur and you will have to learn to make the best of it.
Comfort: Owning your own company means the buck stops with you. You are going to make loads of decisions you never had to make before, and dive into subjects you never even considered before. Part of entrepreneurship involves stepping out of your comfort zone, so you have to be prepared for that as best as you can. Approach these uncomfortable situations with confidence and a certain degree of excitement, and you will find yourself much more at peace with your job.
Don’t see these sacrifices as literal sacrifices. Of course you will be giving something up but try to think of it as a sort of investment. You are giving up the things you are giving up in exchange for something better down the road. Happy hunting! 🙂