These days, it seems like everyone wants to be an entrepreneur. That is, until you don’t
Entrepreneurship can often be glamourized, especially by folks like us, who focus on small- and medium-sized enterprises. We talk about it in lionized terms, celebrate entrepreneurs doing exciting things and encourage consumers to support these companies.
But it’s easy to forget that entrepreneurship can be an immense challenge ― and that it’s not always suited for everyone.
Recently, the BBC talked to entrepreneurs who looked back and suggested that, while they have been successful, regret their decision to strike out on their own. “If I’d had a crystal ball, I would’ve never made that jump,” said one Boston-based consultant. “I regret it all the time. I look back, and by now I would’ve consistently been making seven figures as a management consultant had I stayed working with the large firms.”
Money is a regular feature of these complaints; entrepreneurship is always a bit of a gamble, especially if you’re leaving a high-earning track to pursue it. The other is time. “My biggest misconception was that being my own business equalled freedom ― that you could come and go as you pleased and set your own hours,” said another PR entrepreneur.
To the experts, it’s crucial to make sure that if we are encouraging entrepreneurs to start their own ventures, that they also be encouraged to see the whole picture, not just the good parts.
“Entrepreneurship is a beautiful thing,” writes Forbes business development council member Tim Conn. “Accept that the path forward isn’t going to be easy. Your problems won’t go away with the new path you decide to go down, but in a sense, better problems may arise.”
“This entrepreneurial drive and risk-taking spirit have shaped our world today,” added regretful entrepreneur Sam Schreim. “But that optimism has to be accompanied by a strong sense of realism. You need to be aware of the ups and downs that this career choice brings before you decide to follow through.”
Content written by Kieran Delamont for Worklife, a partnership between Ahria Consulting and London Inc. To view this content in newsletter form, click here.