The Good, Bad And Ugly Of Entrepreneurship

Entrepreneurship is a lifestyle completely customized to your own liking and it can bring you success, the good and the bad of it.

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Photo: Nicole Liloia; Credit:
 Maggie McGill Photography
Photo: Nicole Liloia; Credit:
 Maggie McGill Photography

While it’s hard to nail down the exact magical time you will become a wildly successful entrepreneur, it’s much easier to connect the dots once it’s happened.

You can use your business success to propel you further along in your journey, but there are also some not-so-great things that come with new (and higher) levels of business.

 

The good side of business

 

  1. Momentum

    When you start to get some business wins, you develop momentum and motivation to keep going, growing and trying new things. It becomes easier to get out of your comfort zone. You’re more willing to try new things. For instance, I remember when I created a group mastermind; something I never thought I would do. Success made it easier to do because otherwise I would have told myself nobody was interested. I would have operated from a place of fear. Instead I was able to take the momentum from my prior successes and use it to build more.

  2. Excitement

    Once you start to experience business success, you wake up so many more days excited. The tasks that dragged you down before, like client calls and starting new projects, no longer overwhelm you. Even bigger projects that take more work are exciting because you’re more confident about the results you will get. There’s also a lot of pride that comes once you’ve achieved your goals. You’re able to take time to feel that success.

  3. Profit from passion

    Have you made money not doing work you love? I was a social worker and I did not love that work. I loved my clients, but I hated the bureaucracy of the system. You’re still going to hate some of the activities in your business, but because you love the work, it will balance out. It’s so nice to know you can be secure in your business. Being a business owner doesn’t mean you’re going to be broke all the time and it’s nice to experience being profitable.

  4. Dream clients

    I get to work with some of the most amazing people on their businesses. I love seeing my clients challenge themselves, achieve their goals and do things they didn’t think they’d be able to do. Being successful allows you to attract dream clients. You get to meet new people and experience new and unexpected opportunities.

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The bad (and ugly) side of business success

 

  1. Jealousy

    You will definitely deal with jealousy from other people at times. Sometimes it comes from a lack of understanding about what you do. Other times people will just stop talking to you because they don’t know how to deal with their envy over the opportunities you’re receiving. It’s happened to me and you will survive it, but it can feel really isolating.

  2. Relationships change

    There can be a lack of support from people in your life. Your relationships will change. Your family and friends may completely ignore your business. You may not want to spend as much time with them anymore either. People may make comments about how things are easy for you or how you don’t have to actually work hard.

     

    the good, bad and ugly of entrepreneurship
    Photo: © iko, YFS Magazine

    You’ll hear comments from other business owners like “Well, it’s easy for you because…” It hurts to hear these things because it belittles what you’re doing, but you just have to keep moving forward anyway. One way to deal with this is to hangout with likeminded entrepreneurs. Join a mastermind with other business owners who have similar goals as you.

  3. Family dynamics shift

    Unless you come from an entrepreneurial family, it may be hard for them to understand your desire to build a business. They will fear for your “security” because you don’t have a normal job or benefits. They may be more critical of what you’re doing. It may also seem like they don’t support you. Other times they may suffocate you a bit by paying too much attention to what you’re doing. It’s important to continue to put yourself out there despite all of this.

  4. Boundaries

    People ask to pick my brain all the time now. They constantly send me messages asking for help. It’s hard for me to say no at times. Other people will feel like they know a lot about you because you have built a personal brand and a presence on social media. You will have to learn to say no to people who want your constant help and support.

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Entrepreneurship isn’t all dream clients and freedom, it’s hard work, but it’s worth it. It’s a lifestyle completely customized to your own liking and it can bring you success, the good and the bad of it. Building a network of supportive peers who are also entrepreneurs or finding a mentor will help you get through it all.

 

This article has been edited.

Nicole Liloia works with women who are “accidental entrepreneurs” to help them take charge of their business, money, and life so they can achieve bigger profits and even bigger impact as they move from employee to boss. Running a business can get complicated when you’re doing it on your own, but she helps you focus on what’s important so you can scale your business without burnout. Learn more and download her free cheat sheet, Batch Like A Boss: 20 Ways to Use This Biz Hack to Save You Time (and Your Sanity!). Connect with @nicoleliloia on Twitter.

 

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