5 Disadvantages Of Being An Entrepreneur That Really Shouldn’t Bother You

After looking at the “7 Key Benefits Of Being An Entrepreneur”, I must confess I wasn’t psyched up about writing a post on the disadvantages of being an entrepreneur, but since ignoring it would be telling you the half truth about what entrepreneurship really involves, here are some of the disadvantages of being an entrepreneur.

Disadvantages Of Being An Entrepreneur #1: You Bear The Loses Alone

One of the major benefits of being an entrepreneur is that you bear all the profits alone but likewise, one of the major disadvantages of being an entrepreneur is that you get to bear all the losses alone be they costly or not e.g. you may even have to sell your personal assets just to prevent your business from going under.

Disadvantages Of Being An Entrepreneur #2: Longer Hours Of Work

This is one of the biggest disadvantages of being an entrepreneur that discourages many, but if you’re thinking of being your own boss, then you better be prepared to burn the midnight oil because several long and tiring hours of work lie ahead of you and that’s because the back ends with you. 

You need to remember that you’re the engine of the vehicle (i.e. your business) so if the engine isn’t running, then the vehicle won’t move.

Disadvantages Of Being An Entrepreneur #3: Income Is Never Guaranteed

There’s a saying that to be successful, you need to “Fake it till you make it” but the sad truth is that even if you make it, income is never guaranteed; at least for small businesses. You therefore need to be prepared for any outcome because not every month will be a payday; there are those that might have plenty to harvest while others might have absolutely nothing to be harvested.

Disadvantages Of Being An Entrepreneur #4: You Can’t Pass The Buck

One of the main disadvantages of being an entrepreneur  is that one becomes sorely responsible for all the consequences that their choices breed. If you make the right choice then you get to feel good about yourself but if on the other hand you make a wrong choice, then you’re the only one who is responsible for the outcome; there’s no such thing as passing the buck, it all ends with you!

Disadvantages Of Being An Entrepreneur #5: You Have To Be A Jack Of All Trades In The Beginning

The most challenging part about starting your own business is that you are the one who takes care of all the operations within the businesses e.g. If you start an online advertising business then you’ll be the one taking care of creating content, advertising, SEO and the like before you finally get enough capital to employ others. The good news however is that although it can be quite stressing in the beginning to do everything yourself, it’s always satisfying when things do pick up later on.

Last Word On The Disadvantages Of Being An Entrepreneur

The above disadvantages of being an entrepreneur are not in any way meant to deter you from venturing into entrepreneurship but rather, they are meant to show you that entrepreneurship also has its challenges.

Don’t focus on the disadvantages of being an entrepreneur but rather on how to overcome them cause that’s what successful entrepreneurs do. 

The way I see it, if you want the rainbow you’ve got to put up with the rain-Dolly Parton

Feel free to share in the comment box below what your thoughts are on the disadvantages of being an entrepreneur; I’d certainly love to hear from you!