Entrepreneurship comes with freedom, but the freedom is not always free as it comes with the bad side of robbing of your work-life balance and other ugly things that make you dread the whole idea of entrepreneurship. It can also be stressful when you have to be the think-tank of the team and the burden of decision making falls on you. You'll get to a point where you're not sure of the outcome of the decision, but you have to make it anyway. At times you'll crash on the inside but have to act like everything is okay for the smooth running of your business.
Heres what entrepreneurs had to say about what they dislike about being an entrepreneur.
#1-Cost of digital marketing
Being a business owner certainly has its advantages – but also its disadvantages. One thing that I dislike about entrepreneurship is the cost of digital marketing. I own a law firm in a brutally competitive urban market. I have been involved in traditional advertising for many years – but comparatively, the cost of digital marketing (meaning SEO and PPC) seems to be getting out of control. When you do bite the bullet and spend, the ads then must be created with the proper graphics – because millennials seem to hate advertising altogether. It's a never-ending expensive battle, but as a business owner, you have no choice but to get in the ring.
Thanks to Matt Lalande, Lalande Personal Injury Lawyers!
#2-Three things
I remind myself daily that entrepreneurship is truly a marathon, not a sprint. I dislike a few things about entrepreneurship, working capital challenges and client term payments tops my list. Secondly, most major corporations began in the founder's garage but the idea that working from a home based business is not a business is a message that sadly resonates to most small business owners. Finally, entrepreneurship is a lonely world unless you have a network of other entrepreneurs that have walked in your shoes for advice and guidance. Entrepreneurship is a roller coaster ride, you can hate it in the morning and by lunch or dinner, you're on a high, loving it. However, I wouldn't change my journey and living my best entrepreneurship life.
Thanks to Donyshia Boston-Hill, Keeper of the Brand Marketing and Digital Agency!
#3-Rude prospects
Wow, hate is a strong word, but my number one dislike is when prospects are downright rude. As entrepreneurs, we don't have the big brand cachet, and we often have concepts that disrupt the status quo. However, when I secure a 30-minute introductory meeting and face behaviors like interrupting, criticizing my concepts or blurting out what are you selling me?, I cringe. It's not that I can't face rejection after 30+ years in sales, but the disrespect and lack of common courtesy from some are demoralizing. The good news is that it only takes a handful of gracious prospects to make up for the other side of the bell curve.
Thanks to Dana Manciagli, DM Consult, LLC!
#4-Not being understood
Not being understood by friends and family for those near and dear to me who are working stiffs, my business lifestyle just doesn't make any sense. I get it – I was once in their position. To some I'm a success (even though they can't figure out how or why), to others I'm a failure (by conventional terms), and the rest just think I'm a kook. It's a strange position because I feel enlightened, and want to share the gospel of freedom, empowerment, and DIY, but it often falls on deaf ears with those I care most about.
Thanks to Simon Trask, Rita Marie's Large Chicken Coops!
#5- No gap between me and my company
Running your own business causes you to fuse with the entity itself. While you often hear that companies are separate legal entities, sort of a person in their own right, as an SME agency owner I really felt no gap between me and my company. I would end up feeling as if my state of mind was literally tied to the fortunes of the company on an hour by hour basis. New business would come flooding in the door and I'd be ecstatic, making plans to open new offices etc and if we lost any clients I'd feel extremely negative and this would crossover into my personal life affecting family and friends. Unfortunately, I don't think this actually has a remedy apart from just basically always doing well. It's in the hi's and low's that entrepreneurs are broken but sticking through this and levelling out your business will do the same for you. Be patient and pro tip: Meditate.
Thanks to Larry Kotch, The Brain!
#6- Procrastination and perseverance
What I dislike most about entrepreneurship is, paradoxically, what has made my business grow the most. It's about perseverance. It has been hard for me to be constant with the things that must be done. In the beginning, I left the to-do list with several unmarked items, half goals and tried to do what I found most entertaining. Being constant cost me a lot, despite knowing that it was the best thing for me and my business. I think it was partly due to the excessive confidence I had in my studies of the company and myself. However, I realized that staying in the comfort zone was taking away a lot of energy from the business and me as one of the leaders. After several talks with coaches and therapists I improved that aspect considerably, now it is much smaller, however, the spirit of procrastination is always lurking around!
Thanks to Eric J. Anderson, CalculatorBuddy.com!
#7- Blame for mistakes falling back on me
The number one thing that I don't like about being an entrepreneur is how the blame for any mistake falls back on me, since I am the owner and I'm responsible for the mistakes of my employees. So having to call angry disgruntled sellers back over the phone to try to save a deal just to get an ear full and apologize for a simple mistake my employee may have made is a part of the business that I can live without but it comes with the territory.
Thanks to Chris Waits, WeBuyFtWorth!
#8-Firing people
The one thing I hate most about being an entrepreneur? Firing people. I once had to let an administrative assistant go for gross
incompetence/misconduct. Her crime: To lighten her workload, she had simply been deleting all emails/paper trails of tasks she didn't like.Firing her should have been straightforward, right? Far from it. She began crying, I was close to tears, we ended up hugging it out as she left. Possibly my most uncomfortable quarter of an hour in many a year.
Thanks to Ainsley Llewellyn, Homes and Villas Abroad!
#9- Two things
1) Less Time With Friends and Family Let's face it, entrepreneurs generally work long and hard in order to be successful. Many entrepreneurs work 10-15 hours days, especially if they run a startup. I call this self-sacrifice. Unfortunately, that means less time with friends and family. 2) Constantly Thinking Business I love being an entrepreneur but you generally think about your business even when you are not working. Sometimes, this is beneficial and you will come up with new ideas to implement or test. In other cases, it has its drawbacks, especially when fear or worry cloud your thoughts.
Thanks to Charlie Corsello, TaxDebtHelp!
#10- The sacrifices
What I dislike the most about being an entrepreneur is not the long hours, financial anxiety, or looming possibility of failure, but the sacrifices necessary to succeed, namely the loss of friends and relationships. Entrepreneurs, especially at the early stages of their career, are misunderstood creatures. Personally, I have found that I have little time and interest in some of the things I used to do with my friends and family. I have forgone eating out, going to sporting events, and even holidays to read the latest article and blogs, attend conventions, and work until the late hours of the night. Many of my friends and family members are confused about my choices and as our interests move further away so does our relationship. It’s a sobering fact of the life of an entrepreneur because business is always volatile and a sour period can approach at any moment (financial issue, project failure, loss of clientele). At time like this social and emotional support is needed to help persevere, but by cutting so many ties, this support becomes a scarce commodity.
Thanks to Jonathan Baptiste, Canyon Digital Marketing!
#11-Working Hard To Avoid Burnout
One of the things I dislike most about being an entrepreneur is constantly looking for the energy and resolve to not give into burnout. It's so easy to let all the problems overwhelm you emotionally, especially when first starting your business because so much is unknown. Plus, without the safety net of working for someone else, knowing that if you don't solve problems X,Y, and Z you might lose everything is tough to constantly bear. That's why I always have to seek the help of my team and family to reinvigorate me mentally and emotionally, so that I can keep pushing forward positively.
Thanks to Shaan Patel, Prep Expert!
#12- Less human interaction
My least favorite thing about being an entrepreneur is the lack of human interaction. Even as an introverted homebody, I missed daily conversations with coworkers once I started working from home as an entrepreneur. You need to know your sweet spot for socialization, and it's difficult to strike that balance when branching out on your own.
Thanks to Elizabeth Bradshaw, Canvas Art Boutique!
#13- Responsibility towards my employees
I would be hard-pressed to say that there is anything that I actually hate about being an entrepreneur, as that is a pretty strong word. Sure, running a small business is stressful at times, and the unknown that is seemingly around a lot of corners can be tough to deal with, but overall it's been a very rewarding experience. If I had to nail it down though, one of the things that's hardest to deal with is the responsibility that I feel towards my employees. It's not like a boss who hires an employee at a traditional company. In most cases, these people have been hand-picked by myself or my business partner, and in most instances they've turned out to be great workers. However, there are times when the workload is less than consistent, and also of course, there are cases where people have left the organization, all for a variety of reasons. That responsibility does wear on you because it's much more of a personalized situation.
Thanks to Andrew Schrage, MoneyCrashers!
#14-People make it look too easy
Just because you hate your job, know how to work a computer, and dream of life on easy street doesn't mean you are entrepreneur material. Just know that many of those so-called overnight success stories took years to build. But the way you read some of these gurus' sales page, the ones where they claim your business can work like an ATM if you just follow their advice (and buy their product), you would think there is a giant easy button just waiting to be pushed. It's about taking risks and having no one tell you what to do, but it will be the hardest job you'll ever love.
Thanks to Lisa R. Wells
#15- Long waits for feedback
The worst part about entrepreneurship is that you often don't get immediate feedback. If you're doing anything with SEO and search engine traffic, it may take months before you know if your idea is going to be successful. And the longer you have to wait to see a result, the more doubt starts creeping in. Everybody finds a certain level of comfort in knowing what is going to happen next, but it's party that uncertainty that entrepreneurs thrive on.. It acts like the strongest caffeinated beverage you will ever drink, and drives you to be a success.
Thanks to Neil Pope, Game On Music!