The Harsh Realities of Entrepreneurship

There are more than few ways of looking into entrepreneurship. To those who are aspiring of building, running, and owning their own business, entrepreneurship is the passport to freedom, the ideal job, doing the things that you really love, or the ultimate self-expression. In my line of business offering bookkeeping services in Brisbane, I’ve handled consultations with a number of bright-eyed entrepreneurs who can’t wait to start the business.

I have also handled their accounts and you can always tell if someone has been in the business for a year or two. Of course there will be awesome rewards, but entrepreneurship also comes with prickles.

There will be major decisions to make – every day. If you are a little bit on the indecisive side, forget entrepreneurship. Success doesn’t come with making the right decision all the time. It comes with making the decision as needed, and learning from the bad ones made.

Most of your plans are not realized. Everything looks perfect in the drawing board. Do not expect the same in reality. But, don’t let disappointment or frustration get to you. Quitting is not an option if you are to succeed. Be flexible. Be prepared to adjust every detail, have a backup plan, several if possible. If one option fails, the next solution might just be the perfect one.

There will be a lot of learning. Hated school and studying? You have to do a lot of that in entrepreneurship. I thought my degree and certificates in Brisbane bookkeeping can see me through and easy professional career. No such thing. I still have to learn a lot about the realities of the industry and study new things in order to give my clients the best and the latest bookkeeping services they deserve.

The work never ends. Do you think building and running your own business will free you of the grueling nine hour job you have right now? True, no one will call you out if you choose to sleep in and show up late in the afternoon, or if you pick Mondays as your beach days. But an entrepreneur has to work more than the nine hour, five day grind. The work is never really ‘done.’ You go to sleep with your mind still playing on future plans, marketing strategies, and your to-do list.

The risks can be terrifying. You will be investing a lot into your business – money, time, and your creative self-esteem. What if it doesn’t work? What if your product fails to sell? There is always the possibility of losing your money, and of losing time spent with your family. Can you handle the pressure? You will need a good support system going into a business – a family who supports and understand the business demands.

There will be endless paperwork. Real entrepreneurship is not all about innovations, selling, power meetings, and vacations! There will be a lot of organizing, managing, recording and tracking, documentation and other administrative and back-end tasks. Shutting your business down due to non-compliance of a simple government requirement would be such a shame. Make sure that you have an able team whom you can rely on to perform the paperwork.

There are industry professionals like IT specialists, business lawyers, and bookkeepers in Brisbane who can help you manage your business. They specialize on services that will free you time to spend on things that needed your attention the most. Get as much help as you can.