BRX Pro Tip: Reasons Not to be an Entrepreneur
Stone Payton: And we’re back with Business RadioX Pro Tips. Lee Kantor, Stone Payton here with you. Lee, I can give you a list as long as your arm on the benefits and reasons for being an entrepreneur, but what are some reasons maybe not to be an entrepreneur?
Lee Kantor: Yeah, this is one of those things that in our world we’re surrounded by entrepreneurs, so everybody seems like they should be an entrepreneur. Like, it just makes perfect sense. But there’s some survivor bias that we’re encountering, that the only people we’re interviewing are people who are semi-successful, at least in being an entrepreneur.
Lee Kantor: So, not everyone, I don’t think, is wired to be an entrepreneur, even though in our world everybody’s celebrating entrepreneurship. But I just thought it’s important to talk about some reasons why you shouldn’t do it if you’re thinking about it.
Lee Kantor: But you’ve got to ask yourself the reason why you’re even considering being an entrepreneur. You know, what is it that you really want? And is entrepreneurship kind of that path to get you what you really want? And a lot of folks are like, well, you know, I want a more stable, you know, kind of financial path, and if I’m my own boss, then I can create that for myself. And it’s like, you know, I don’t want to rely on other people for my job because with all the layoffs, especially these layoffs that seem like it has nothing to do with what they’re doing or the quality of their work. You know, they’re just tightening their kind of payroll.
Lee Kantor: But if you crave stability, entrepreneurship offers the possibility of stability. But it’s definitely not going to offer the predictability of stability. If you need a steady paycheck and you need clear structure or certainty about next month, then you’d better buckle up. Because entrepreneur life, especially in the early days, is super volatile, and it can really erode your confidence. You risk instability or standard, especially when launching a new entrepreneurial venture. So, just be mindful of that.
Lee Kantor: Number two is if you think you’re not going to deal with rejection if you’re an entrepreneur, you’re sadly mistaken because when you’re an entrepreneur, every pitch, every client meeting, every kind of meeting, is a maybe. There is no yes guaranteed. And if you can’t handle being rejected multiple times a day in multiple times a week, this is going to be brutal for you. You are not going to enjoy the ride. It will be difficult.
Lee Kantor: And if you don’t like pressure, if you thought your other job had pressure, when it’s your own thing and people are relying on you to generate revenue. You don’t know what pressure is until other people’s livelihoods are depending on your efforts. Entrepreneurs live in a constant, high-stakes environment. Success and failure rest on the entrepreneur’s shoulders every single day, financially, mentally, and emotionally.
Lee Kantor: There is no more boss to blame. You are the – the buck stops with you. You are accountable. You have to solve these problems. So, if you don’t need to be an entrepreneur, you probably shouldn’t be an entrepreneur. But if you can’t imagine doing anything else, you’re almost there.
