8 Reasons Why You Should Not Be An Entrepreneur

Today, I’ll be busting a myth that has taken hold: that everyone should start a business.?

The idea that entrepreneurship is the pinnacle of achievement for everyone.?

That it is the ideal everyone should be striving for.

We love romanticizing about self-made billionaires like Elon Musk to Sara Blajely. Disrupting space travel to lingerie. We binge watch the Apprentice and fill our commutes listening to How They Built This.?

Unfortunately most people fixate on starting a business or working for themselves without even pausing to consider:

Is this right for me?

83.5% Of Americans Are Not Entrepreneurs.?

Entrepreneurship requires an eclectic mix of skills and attitudes.?

If these things aren’t your strong suit or aren’t things you are willing to bend over backwards to develop then the entrepreneurial path might not be the best fit for you.

And not only is that normal, IT DOES NOT IMPACT YOUR ABILITY TO BE SUCCESSFUL!

Before you commit to this path you really have to decide for yourself if entrepreneurship is right for you.?

If it’s not, you can save yourself a lot of money, time, and pain by figuring this out BEFORE you jump in.?

Here are 8 reasons why entrepreneurship may not be the right choice. How many apply to you?

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1. You crave predictability??

On the voyage of entrepreneurship, you will come across many things that are completely new to you.?

Things that you will have to work with, manage, and learn to teach to your team members.?

You must go into entrepreneurship prepared to be faced with the unknown. Prepared to make the unknown known, no matter the field, scope, or subject matter.

First-time entrepreneurs will face the stark reality of how the sausage is made, for probably the first time in their life. The legal, financial, strategic, and operational underbelly that is part of any running business operation.?

And the only way to succeed is to try, fail, and do the work to learn to navigate these unfamiliar aspects.

2. Networking makes you uncomfortable

Networking is the establishment of and building connections that can be useful in a business context.

It's no use inventing the next greatest solution if no one knows about it.

As an entrepreneur you have to put yourself out there and promote your business and service which puts a lot of people off.?

This is often an uncomfortable part of entrepreneurship for most people.

It can feel disingenuous though, which puts off a lot of people from doing it.?

While at an event you are talking with someone that seems like they could benefit from a product or service you are offering.?

Understanding their situation, offering assistance and exchanging some contact info is networking!

It does not have to be more complicated or slimey than that.

3. You don’t like selling and you’re not convinced marketing works

A business is only a business when it makes sales.?

Getting the word out about your product/services is a fundamental part of entrepreneurship.

Whether this is on-grounds marketing, digital marketing, or cold calls. Having a clear idea of whom to target, how to connect with your ideal customer, and evangelize your services can make the difference between success and failure for your business.?

You can have the best product in the world.?

However, if you’re unable to have a conversation with someone, listen to their dreams and challenges and help them get clear on what they need and take action to address, then you’ll never be able to actually progress.?

4. Managing money stresses you out

When starting and running a business you will be faced with difficult financial challenges.?

From generating money from clients, covering expenses, making sure your employees get paid if you have any, to ensuring that there is enough cash flow to keep the doors open.

Without learning how to keep track of, manage, and understand your financial statements, and without the mindset to deal with cashflow variations, you will struggle to achieve these goals.?

5. You find it difficult to keep track of many moving parts

As a business owner, more of your work will be getting other people, partners or tools to accomplish work than it will be you yourself actually doing.?

Especially when you scale your operations.

In order to do that effectively you need to be able to understand how to plan out work across longer periods of time.

And how to best allocate your precious resources of time, people, focus and energy.

If you are releasing a new product, you would have to plan out the building, the launching, the marketing and the selling of it.?

It’s a lot.?

What will be posted on which social media platform, and what do you need in order to actually provide the needed materials for the posts.

Then actually finding which team members would be suited to the job at hand and how it fits into their schedule.

These are just some questions you have to consider, answer, & coordinate.

Remember, "By failing to prepare, you are preparing to fail." — Benjamin Franklin

6. You aren’t open to learning new technology

In this day and age, no business operates with pen & paper.

The digital world is the foundation of all business interactions.

Without being able to navigate the basic tools needed to operate a business you will be at a severe disadvantage.

And it’s not always sexy tools like social media with built in dopamine hits.?

You may have to learn accounting software like QuickBooks, productivity tools like Notion, or navigate customer relationship management platform like HubSpot. It often involves actively searching for specific software that can help automate your particular business case.?

And that’s before opening Pandora’s Box of AI tools to automate and leverage every possible aspect of your business.?

This is the new reality of the entrepreneurial world.

You can either adapt or die.?

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7. You get overwhelmed by setbacks

As an entrepreneur, you are the backbone of your business.?

Your ability to demonstrate resilience directly affects the resilience of your business.

If you are having a low time, whether caused by personal or work stresses, and you check out then your progress will halt.

Only you can drive your entrepreneurial venture.

If you’ve fallen down, no one will step in to pick up the slack.

Once you lock into that entrepreneurial mindset, there is no turning back.

You either give it your all till you make it or you will end up like 80% of the population back in a W2 job.?

8. You need a lot of data and analysis to make decisions?

Decisions, decisions, decisions.?

As an entrepreneur, you wield the power to make swift, on-the-fly micro decisions or carefully thought-out strategic moves.?

Often without all the desired information at hand.

Which font will you use? Who is your target audience? Should you give a raise to that employee? Which initiative to pursue and which to abandon? Whether to invest ahead of growth

Being comfortable firing before you are ready and before you’ve calibrated your aim.?

Having to decide between two suboptimal paths and pick the least worst.?

Holding back on a decision can leave your team in limbo, and your business floundering unable until you pull your finger out.?

Being comfortable with making these types of decisions is tough, but it is something that you will have to learn along the way.

Final thoughts

Entrepreneurship is a major shift from the normal 9-5 lifestyle.?

Not everyone is suited to it.?

And that‘s ok.

Through introspection and understanding what it actually entails, you can start to figure out if it actually is the best choice for you.

It took me years and years to realize that not only would I like to be an entrepreneur, but that I could actually do it.?

I was never the person to have a lemonade stand or start a landscaping business as a child. I stumbled upon the opportunity after years of employment. Taking the leap was scary.?

And boy am I grateful I did.?

Look within and be honest with yourself.

You might be surprised at what you find.?

PS. If you are on the fence, what reason is causing you pause?

Or if you already took the leap, what skill were you surprised you needed in your entrepreneurial voyage?

Share in the comments below.

Before you go…

Do you still have questions whether you should pursue entrepreneurship? Then check out our free live masterclass hosted on the first Friday of each month where we will explore ways to find more happiness and meaning in your work life whether you stay where you are or take the leap to start something new.

Register for the Friday 5th of May masterclass here .