Is entrepreneurship over-hyped?

You hear it everywhere in the media. Entrepreneurship has been passed around like a new shiny trophy that is to be collected and placed on a shelf.

But seriously…What is it?

Let’s ask Google.

“The activity of setting up a business or businesses, taking on financial risks in the hope of profit.” – Google

I don’t know about you but that kind of scares me a little. I mean how much financial risk are we talking about?

Well there are in fact a lot of risks involved. More than just financial risks are at stake.

For one you have to dependent on your own ability to make sales, products, and services that the market wants. This can seem easy on the surface until you go 1 to 2 months with no income because you had to pay your staff, rent, etc.

So what makes Entrepreneurship the ideal path?

  • The freedom and Lifestyle. Yes, you can set your own schedule.
  • Passive income.
  • No boss.

Don’t these reasons sound amazing?

  • The freedom and Lifestyle. Yes, you can set your own schedule.
  • You can wake up at 10am every morning and “be your own boss” Yes, you no longer need to report to a higher authority.
  • The ability to travel the world with “passive income” Yes, you can go wherever, whenever you want.

But be aware, the freedom of being an entrepreneur comes with a lot of responsibility. You will no longer be working 40 hours weeks, but perhaps more like 70 hours.

No, you don’t have one boss to report to, but you now have several bosses that have expectations for their projects to be completed and products to be shipped on time.

Of course, there are business owners who can live the good life and work very little. But most likely they have already established their processes, their teams, and other foundational variables.

There is no way to get around this phase in your journey. You’ll have to stick with it in order to reap the results.

“If you can’t fly, then run, if you can’t walk run, then walk, if you can’t walk, then crawl, but by all means keep moving.” MLK

Why is Entrepreneurship Underrated?

Okay, I’ve given you multiple reasons why entrepreneurship may be a bad ideal. But wait; there are some really good reasons why you should push through if you want to own your own business.

For one, not everyone is meant to be working in corporate. Where would we be if no one left to start businesses? We’d have no local boutiques and farmers markets, no new innovative software platforms, and no growth.

There is plenty of money to be made.

It’s true that the average entrepreneur has the chance of making double or triple the amount of income than from their desk job.

Just to put that into perspective, the average executive only makes about $174,066 and $232,408 before taxes. That comes out to be very little for the amount of work involved.

Another great advantage of being an Entrepreneur is the are the tax breaks. Depending on how you set up your business entity there are opportunities for good tax write-offs.

“Life is being on the wire, everything else is just waiting. — Karl Wallenda

Running a business is more than just about having more free time and loads of money. It’s about building your brand and showcasing to the world what you have to offer. T

There will certainly some wins, and many loses. It’s up to you to decide if entrepreneurship is the journey you want to take.

Be ready to take on some serious risk, and even more serious consequences. Can you afford to not be paid for serval months? Or take out a loan? These are factors you should consider.

“The way to develop self-confidence is to do the thing you fear and get a record of successful experiences behind you. Destiny is not a matter of chance, it is a matter of choice; it is not a thing to be waited for, it is a thing to be achieved.” — William Jennings Bryan

So, is being an Entrepreneur overhyped and glorified?

  • Not, if you want to change your life and invest your time to growing through your experiences.
  • Not, if you expect to work long hours making calls, and working until you get results.
  • Not, if you understand that things may not always work out and there’s a chance that you may have to start over and over until you get it right.

I’d say no, for people who are seeking change in their lives and are up for the challenge, entrepreneurship is not overhyped.

When you really understand what it’s like being an Entrepreneur you are approaching this entire conversation with your eyes wide open.

“Progress always involves risks. You can’t steal second base and keep your foot on first.” — Frederick Wilcox

Your success is going to depend on you and how much effort you want to put into your goals.

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