Entrepreneurship has been glamorized and as a result, entrepreneurs feel the pressure to be glamorized themselves. Living a glamorized lifestyle of expensive travels and having fleets of cars, wearing the latest designer items and all. But anybody who has tried out this ‘entrepreneurship thing’ knows that’s all a lie. That’s not the life we get to live. If anything, if you are an entrepreneur full-time and just starting out, you are likely be having a very bad financial standing compared to a company executive working a 9-5.
I think it’s safe to say that it’s easier to make a huge fortune in a short space of time as an athlete, a media personality, artist or something like that, than as an entrepreneur. Statistics show how much of a struggle it is to be profitable and not shut doors within the first two years in operation. Those who succumb to the pressure to be glamorized end up increasing their overheads because working from the garage or backroom is not for the 21st century entrepreneur. They go rent out expensive offices that they do not even need, which are coupled with other costs. And before you know it, most of the money made goes to maintaining these unnecessary overheads. In some cases, some use the company money to upgrade and maintain their lifestyles at the expense of the business. There isn’t any glamor in starting a business, at least for the majority of entrepreneurs. In the beginning, it’s all about putting in the work.
Although hard to swallow, some of us will not be able to afford the many cars and expensive travels even in a later stage, say 50 or 60 years, assuming you started out in your 20 or 30 years of age. But by that time you will be able to afford a certain level of comfort and have built something that if your descendants continue to build upon, they will be able to afford a much better quality of life and those private jets.
Why still go into business then? Because you know you want to. You have the burning desire to do so, to create your own thing and see it grow. Or you broke and need to earn a living. Either way, business is not easy but can be rewarding. It can be fulfilling and a lot of fun-sometimes. And you can hit it big and make a fortune that is sustainable in the long run. However, it is anything but the 21st century lie that we have been sold.
You cannot be starting a business with all these wild ideas, or you straight up setting yourself for an eventual disappointment. In the beginning, keep your overheads as low as you can. Remember that you are building something, and building takes time. Reinvest your money into the business; that may simply mean instead of using profits to go out every weekend, you channel it towards your marketing budget or something necessary. Or maybe do get out, but to buy a ticket and attend a business networking event. Put in the work, get the results and enjoy later.