Why Is It Stressful Being An Entrepreneur?
3 reasons why it’s not so great at the top but why you should try anyway.
Stress 22nd Jul, 2020
People dream of being an entrepreneur, of soaring above the crowd and being in control of their own destiny. Although a tantalising dream, not all paths are paved in gold and some regret their decision and wish the clock could be turned back. Reminiscing about former employment may seem strange, but such occurrences are not uncommon. Why is it that being an entrepreneur is so stressful and what would force people to go back to working for someone else.
It’s Only You:
When you are working in a company there are many moving parts and variables, many things that can go wrong. And also many things and people who can be blamed for when things go wrong. When you are an entrepreneur it is only you. There is no one else to blame, the buck starts and ends with you. Even if you have staff and the mistake is theirs, the consequences are felt strongest by you as it is your business. So in other words the amount of things that can go wrong between your business and being part of a business, the difference is that as an entrepreneur every single one of them will negatively and directly affect you.
As an entrepreneur – particularly in a small to medium sized business – the responsibility you feel toward your staff is understandable. More than just a working relationship, often you become part of their daily lives, in the workplace and personally. In times of personal crisis, you may even feel obliged to assist financially. This, in turn, can add to your own stress levels. Even those employers who can exercise restraint, often feel guilt as a result.
So you have a great idea, you have executed well and suddenly the money is rolling in. you find yourself thinking, “why didn’t i do this earlier?” but … suddenly you have had a bad month, but you write it off as bad luck. That is until next month where things are even worse and suddenly within half a year your business is no longer making any money, your costs skyrocketed after you thought you were expanding and you are tearing your hair out. For the entrepreneur, success is never guaranteed. Even when you come up with something great it does not mean that it will continue to be successful as times change and you have to be ready to change with them.Having to keep your finger on the pulse every single day is stressful, as is the knowledge that your competitors are always looking for reasons to take away your customers for themselves and that whole time those very customers might grow bored or no longer need what you have.
Being an entrepreneur takes work and takes the courage to face more risks. When you are part of a company there are more safety nets and boundaries separating you from disaster. However where there is risk there is often reward, for the person who is able to chase their dream and catch it life can hold a special meaning.