Five Unexpected Reasons Why Entrepreneurship Improves Your Life
We jump into the deep waters of entrepreneurship for all sorts of reasons.
In my case it was apparently destiny because my first business was in the 5th grade. For .25 cents each I sold “customized” pencils. Using my rainbow-pack of colored pencils I added colorful swirling designs on standard yellow pencils to generate some elementary school cash.
For some, its for the love of a product and the pursuit of wealth. For others, finally a chance to escape a monotonous, unappreciated routine. The list goes on.
Whatever the reason and the hopeful outcome, the most important reasons are unexpected and often overlooked.
Here’s why: In the pursuit of entrepreneurial rewards, the entrepreneur unavoidably confronts unexpected tests and trials that shape them for good.
As an entrepreneur gains experience they come to realize that the work of business building is about much more than that.
Here are five reasons why entrepreneurship can refine you and mean more to your life than you expected:
1. You’re going to be tested. Hammered, actually. When I started my real journey as an entrepreneur, my vision was fixed on the financial rewards. I had no way of knowing how many personal tests I would face along the way. I was too inexperienced to anticipate how market factors, competitive pressures, cash constraints, and managing employees would create an environment of constant pressure. New twists, turns, and surprises surface with exhausting frequency. There’s a wise saying that “…hammering hardens steel and plays havoc on putty.” It’s the opportunity for you to become strengthened and refined under the heat and hammering of business challenges. Sadly, many wilt, falter, or fail under these circumstances. So be prepared to face and conquer real-life tests as an entrepreneur and to be better for it.
2. You’re going to stumble and occasionally fall. That’s a good thing. And don’t think of it as failure, rather as the educational toll paid for future success. Every great success story includes painful chapters and misstep. It’s a fact that through these experiences questions are answered and solutions are discovered. Og Mandino said, “Every discovery we make of what is false leads us to earnestly seek after what is true and points out some error which we shall afterward carefully avoid.” These are the experiences that create ones ability to be flexible, humble, and thoughtful — qualities required to create a company that can stand the test of time. Flexibility, humility, and thoughtfulness go a long way in life, too.
3. You’re going to learn patience. It develops as a natural result of the hammering and the lessons that you’re sure to experience. Patience is the trait that separates inexperienced entrepreneurs from the seasoned and successful. Patience earned through experience is what allows a business operator to get beyond idealistic dreams and deal in the world of realistic expectations. Pray that it develops within you as soon as possible.
4. You’re going to have a major impact on people. It’s inevitable and wonderful. People — perhaps many people — are going to give a portion of their lives to your cause. This isn’t a small thing. Your actions toward your customers, vendors, and especially your employees will have a positive or negative impact on their lives. You’ll learn that managing people demands leadership, and leadership is about inspiring people to reach their full potential. In The 8th Habit, Stephen Covey explains that it is absolutely crucial that we “…find our voice and inspire others to find theirs.” From Peter Drucker, “Management is about human beings. Its task is to make their strengths effective and their weaknesses irrelevant.” I hope that as you build your company, you’ll find that it’s an ideal platform for doing much more than selling widgets — it’s an opportunity to change many lives for good.
5. You’re going to develop character. Sure, you might get rich, retire young, and travel the world. But realize that this isn’t really the end game. In time (sooner rather than later), you’ll recognize that building a business can go much deeper that what you might have initially envisioned. While there is no guarantee of riches, through the pursuit you have the opportunity to build character. And the development of deep character is perhaps the most important perk of entrepreneurship. At the end of the day, no one really cares how much money you made. They care about who you are.
When I started out my goals and expectations were largely business-growth focused. Now, with more experience and perspective it’s the unexpected, character-changing life lessons that I’ve come to cherish most.
In your entrepreneurial journey I hope you reach your business goals.
But along the way, keep in mind that the journey of entrepreneurship can provide far greater benefits than you may have initially considered. You’ll develop deep life experience and perspective. You’ll gain patience and have a great impact for good. Your character will be honed, refined; and ultimately, that is the most important benefit of your pursuit.
From one entrepreneur to another, those are the outcomes I hope you’ll achieve and cherish more than anything else.
For more perspective on entrepreneurship, leadership, and strategy, get the Authentic Thinktank delivered to you inbox by signing up at www.jeffchavez.net or www.authenticdev.com
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