The Truth About Entrepreneurship Few People Talk About

Entrepreneurship is a wonderful thing for a lot of people, but lifting it up as some solution to all of your money, time, and relationship problems is as dishonest as it is disingenuous.

Entrepreneurship, or “solopreneurship”, is the art of “working for yourself”.

Or, so the belief goes.

But, that’s simply not true. Unless we are printing money out of thin air (an act that is overtly illegal), there is always someone, or something, that we are working for. We don’t pay ourselves a salary. Our customers do.

You don’t work for yourself.

It might not look like a traditional boss occupying an office down the hall, but ultimately, we don’t get paid by nobody. And, entrepreneurship is not the be-all-end-all solution to making more money and controlling more of your time – despite what popular entrepreneur porn states.

For example, here are several common lies about entrepreneurship.

“When I work for myself, I have no boss”

That’s a lie. If you make money, the source of your money (your clients) is your boss. That boss might not wear a suit and tie and occupy an office down the hall, but you absolutely have a boss.

“When I work for myself, I control my time”

Maybe. Depending on the type of business you run, you might have more control over your time to some degree. But you don’t have anywhere near complete control…as goes the implication.

“When I work for myself, I don’t have to take my work home with me”

Bull. In fact, you’re more likely to think about your work after hours because YOU are the only one responsible for doing it.

“I could make way more money when I work for myself”

Again, maybe. If you’re a good salesperson, then it’s possible. But, 9-5ers can also make damn good money too by making some of the exact same choices entrepreneurs make.

There is potential to make a lot of money as an entrepreneur, but that’s not to say working a traditional job offers an inferior shot at the same.

“I don’t have to worry about answering emails or taking phone calls from bosses or coworkers”

No, just your clients. The direct sources of your income. You do have to worry about bringing in new clients, answering their questions, being on-call. Being an accountant. Managing the books. Running down clients for payment. Marketing your business. Paying your bills.

But yes, no emails from coworkers.

“I don’t need to worry about promotions or performance reviews”

Lie. In fact, you have far more performance reviews as an entrepreneur than you would as a 9-5er. You’re being reviewed all the time. Only this time, if you don’t perform, your salary doesn’t just stay the same…it decreases.

“You’ll never make money being a 9-5er”

Another lie. I retired at 35 after working 9-5 jobs. Never started a business. No real side hustles. Nothing but that job.

In the end, entrepreneurship is a great option for many people. If you are good at what you do, you can make a lot of money.

But, it’s not easy.

YOU are the sales dept. The marketing dept. Customer service. Legal. Accounting. HR. If it works for you, great! But, working 3 hours a day and making millions is the exception.

And, you know it.

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I am not a financial advisor. Before making big money decisions, speak to a certified financial advisor for a tailored financial plan made just for you.