The Half-Naked Truth About Entrepreneurship
Buckle up for a bittersweet journey that never ends…
I am a 32-year-old Frenchman raised by two public workers… So, who, if not me, could better tell you about entrepreneurship? 🙂
Just kidding.
I will never claim to know everything about entrepreneurship, but here’s a little something I discovered during my entrepreneurial ride at Zima Media, a digital marketing agency.
1. “Passive Income” and “4-Hour Workweek” Are Just Buzzwords
There is no shortcut to success.
You’ll need to put in the work EVERY SINGLE DAY.
You’ll always have to improve, learn, and polish. As well as:
- Prospect and find new clients.
- Test new business models and pricing strategies.
- Develop a unique competitive edge and optimize your cash flow.
- Hire new fantastic team members.
- Make or end partnerships.
The world is always changing, and you will need to evolve with it constantly.
You’ll need to be more present than you’ve ever been in any previous role because you’re quite literally the heart and soul of the business.
YOU ARE THE BUSINESS.
And you need to be involved in every single part of that business.
Unfortunately, what’s too good to be true is just too good to be true. You compete against other amazing entrepreneurs who work 80 hours a week. So, do the math, and you’ll realize there’s little chance you can get the same results in four hours.
Focus on what matters the most, and improve a little every day. You can achieve long-term success through the consistent work that you put every day in the business.
Success is all about the compounding effect.
My advice:
Don’t look for too-good-to-be-true shortcuts. Do your work. Put in the effort. “Good enough and done” is better than “perfect but not done yet.” Always prioritize the essential tasks that will positively affect your business.
Sometimes, 20% effort can account for 80% results.
2. Entrepreneurship Isn’t As Cool As Internet Makes It Seem
When you read about successful entrepreneurs, you only hear everyone bragging. Usually, they talk about how easy it is to start from scratch and reach that lavish seven-figure penthouse lifestyle in no time.
Or how you can become an influencer and get thousands of awesome deals with resorts. And, of course, travel the world taking photos in dream spots with zero effort.
Or how someone earns millions by selling basic products on Amazon, and how you can do it too.
Yes, it all sounds lovely. And it would sound even sweeter if it was true.
Don’t get me wrong. There are the lucky ones who somehow managed to get it all. But for most newbie entrepreneurs, the journey is far from smooth.
Once you try to bootstrap your startup, you’ll encounter endless possibilities as well as countless roadblocks before you finally make it work.
Believe me. I’ve been there. I’m actually still there. Even when you have big wins, they could always be followed by even bigger losses. And IT’S OKAY.
Being an entrepreneur doesn’t mean having a constant cash flow. It means learning from your mistakes and improving all the time.
And even when you have those long-awaited dollar bills coming your way, you’ll still want to keep on going and getting better.
TL;DR
There will be good days, but even more bad days. Days when you question or regret your decisions, feel lost, and unsure.
There is no ceiling, but there is no floor either, whether it’s your success, paycheck, or revenue. The good news is, you will carry on. And you will keep pushing because you’ll begin to understand that entrepreneurship is all about the journey, not the final destination (aka result.)
My advice:
Don’t expect the jet set life at the end of the first quarter. Most businesses will never be billion-dollar projects. Yet, every business, whatever the size, can have a positive impact on its community, employees, families, and clients.
Be thankful for everything you have achieved, and don’t focus on the mountain of work coming onto you. Every day you are still in business. YOU ARE A SUCCESS. You just need to stay in the game.
3. Entrepreneurship Is an Emotional Rollercoaster
You will need to build a steel mindset and jump into the unknown. That’s just how it is, and you’ll have to accept this “new normal” entrepreneurial lifestyle.
You’ll find yourself missing out on important events with your friends or family, or having to work when everyone else is having fun. A lot of times, you’ll have to face unconstructive criticism and feel helpless.
I’m not trying to scare you and make you give up your dream. All I want to say is that entrepreneurship isn’t for everyone.
If you aren’t ready to accept your failures, handle struggles, and, more importantly, improve and learn, then maybe it’s not the right time to build your startup.
Entrepreneurship invades your mind and fills it in with tons of ideas, questions, and doubts.
Am I doing enough? What if no one needs my product? Maybe I should rethink my website’s structure or the scope of my services? Should I change my marketing strategy? How many people do I need on my team? Will I get any new clients this month? And so on and so on…
Spoiler alert: these questions never end, and you’re the one who’ll need to have answers eventually.
The sacrifice is necessary. Nobody else will do it for you, and it should be a deliberate choice you are willing to make and stick to.
My advice:
Focus on what you can control.
Also, stereotypes like self-care, meditation, walks, or a proper diet can’t hurt. Do whatever works for you and makes you happy. You are not a droid. You need something to ease your mind and prepare it for what’s to come.
4. Entrepreneurship Is a Lifestyle That Never Ends, Not a Job
There is no clock-in clock-out system. You will never take a “real” vacation again. There is no quitting at the end of the week as the business, the clients, the employees will still be there on Monday waiting for you. Your duty to them is endless, and there is no job-hopping.
You will catch yourself thinking and talking about work most of the time. Often, it’ll annoy others a lot. But you won’t stop because it’s pretty much your life, and you won’t care.
I may not be able to hold an intelligent conversation anymore about the French lifestyle, “joie de vivre,” and the love for striking… But I can go on about all the things business non-stop if you ask me.
My advice:
Simply and consciously accept that this is now your lifestyle, not a job. It means realizing that whatever day it is, you’re still an entrepreneur.
You’re accountable for the business 24/7/365, whether it’s a regular workday, weekend, or holiday. And that won’t change as long as you want to keep your business afloat.
However, do try to unplug and free up some time for your personal needs, friends, family, and loved ones. It’s not easy and requires an extra steal mindset. I had to learn this one the hard way. Maybe now you won’t need to.
5. You Need to Have Answers for Everything Even if You Don’t
In short, you will need to know everything before even learning anything. Just kidding. However, in most cases, you’ll still need to have the answer and bet your money on it.
Once you launch your startup, it’s just you and no one else.
To survive, you’ll need to take up many roles. You’ll have to be an all-in-one solution: a marketer, a finance manager, an HR/PR director, the head of customer success, and whatnot.
Only a creative mindset and the thirst for knowledge and new skills can help you handle all of that at once. And if you don’t know the answer to some questions, well, you better find them out ASAP.
My advice:
You don’t need to be like Warren Buffet and read an entire book every day. Or like Jeff Besos, who always thinks seven years into the future. But it would help if you were still actively learning. It can be podcasts, webinars, Medium articles, books, or anything that works for you.
The only way to keep a clear vision and avoid being stuck in a day-to-day loop is to take an eagle view and a 360-degree perspective on your business, industry, and the world.
6. Success Isn’t a Piece of Cake
If we’re talking about reality and not the glam articles, most businesses fail (actually, 80% of them), and you should be ready for that. And if you do fail, you won’t be able to do it “silently” as all your friends and family will know about it and keep on asking you questions.
If the people around you aren’t entrepreneurs, they can’t begin to understand what you are going through.
You will hear things like: “If you are tired, take a nice long holiday and put the business in a hibernation mode.” And you’ll wish you could do that. But unfortunately, it won’t be an option.
You will discover that being alone is part of your new “normal” lifestyle. And even though the world is full of entrepreneurs, you might find yourself completely lost with no one around who truly “gets” you.
My advice:
Entrepreneurship can be tough, but the rewards are tremendous. And I can talk for hours about how sweet all the big and small wins taste. But until you experience it yourself, you won’t be able to feel that sheer joy and satisfaction of seeing your business thrive.
I love the entrepreneurial lifestyle because I wanted it, and I knew what I was signing up for (did I, though?) It’s not all as bad and hard as it might seem.
Yet, it’s not for everyone.
You can still work from a paradise location if you choose to and be very successful.
But you’ll actually have to put in the hours, not just #doitforthegram.
This is, for example, one of my actual “offices” during my time in Thailand.
If you are thinking of starting a business now, enjoy the ride. And if you are an entrepreneur in the corona crisis, hang in there.
