Am I really willing to choose the entrepreneur lifestyle?

Updated: Apr 3, 2022

Take the plunge 2/12

Are you OK with the fact that your business creeps into most of your thoughts and all aspects of your life? Are you comfortable with the changes that being a business owner will require of you today and in the future? Are you willing to do more today in order to reap the rewards later?

As you consider becoming an entrepreneur and being the proud owner of a start-up, you need to understand it is much more than just your next career. Entrepreneurship is a way of life. The Oxford dictionary defines a lifestyle the particular way of life of a person, their style of living. Google defines it as the way you live including your style, attitudes and possessions.

Still not sure what we mean? Let us try to illustrate it a little more. Becoming a vegan, someone that eats no meat, fish, eggs or dairy, is a lifestyle choice. Deciding that you never want to consume any of these elements and really committing to this choice, means that you must start being diligent in all things and the way you shop, think and eat is dramatically altered. Baking usually contains eggs & dairy – have you checked? A dressing might contain filler that is animal based. Choosing to become a vegan means asking at what is truly vegan and being happy that a main street restaurant such as Montana’s may only have 2 actual vegan options. Do you better understand what we mean by lifestyle?

Success comes from choosing the Entrepreneur Lifestyle™

The first step to becoming a successful entrepreneur is to first choose it as your lifestyle. It has to be deliberate and intentional. Choosing the lifestyle means adjusting your mindset. It requires changing your attitude and expectations. It means moving from choosing your next career to starting a new way of life.

The shift in mindset looks like this:

FROM being told what to do TO going out and doing it yourself

FROM having someone there to support and encourage TO being your own cheerleader and motivator

FROM receiving a salary TO getting paid when you are generating enough profits

FROM expecting to have things such as a good work environment, a decent pay, respectful teams TO having to create the environment, generate revenues and build the teams

Are you capable of making these shifts? Do they excite, motivate and energize you, or maybe make you think twice about things? Ask yourself if you really want to do this. Most say yes for the Good, but what about the Bad or even the Ugly?

The impacts of not committing to the entrepreneur way of life

We have observed that about 4 out 10 entrepreneurs who are facing major challenges have often only considered entrepreneurship as a cool job. When you take this approach and hit a roadblock, they are often moving onto the next job to continue to get what they want (and therefore close their business). People considering entrepreneurship as their next career are often the ones who contribute to the statistics of business death, as when they hit a setback (every business lives these events, most sooner rather than later), they shift their search and focus on maintaining their business just long enough for them to start their new career.

Now considering, understanding and choosing entrepreneurship as a way of life greatly contributes to business success. Many entrepreneurs are often serial entrepreneurs. Why? Because entrepreneurship is the lifestyle they choose. Being an entrepreneur is their way of life. How do you keep living it? Well, you continue to grow, expand, spin-off or create new ventures. Be part of the 3 out of 10 businesses that flourish to see their third year anniversary and the 1 in 10 will continue to operate past the 5 year mark.

Entrepreneurship is harder than finding the perfect job

Living a new lifestyle is more difficult than changing or adapting the one you have at the moment. Can’t find a job you love? Well, finding the right one will often be easier than starting your own business.

Don’t get us wrong. This does not mean that you have to be all-in, all the time. It means that if you have chosen to live the lifestyle, you are committed to regularly and continuously spending your weekends and lunch breaks planning, building and operating your startup as you continue to work your full time job to generate enough money to keep the roof over your head, food in your belly, keep your family safe and invest in your business. It just means that this type of start will probably take longer and extend your timelines.

Understanding the realities and adjusting your expectations is an important factor to becoming a successful and sustainable entrepreneur. Choosing the way of life and aligning your mindset with the realities of the Entrepreneur Lifestyle™ is what will allow you to create a successful and sustainable business that will stand the test of time.

Still saying yes to the lifestyle? Then you are off to a good start. Continue to read our articles to explore all the elements to consider before you take the entrepreneurial plunge.

Am I really willing to choose the entrepreneur lifestyle?

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