6 silly myths about being an entrepreneur
Whether you are just beginning your self-employment journey full-time or you’ve been playing this game for a while, it’s safe to say that you have definitely come across friends and family who (while we love them dearly) automatically assume that your career is all sunshine and flowers. They imagine us sitting in coffee shops everyday, having time during the day to clean our house and run errands, choosing some days to just not work at all and taking vacation whenever our little hearts desire!
And, while being an entrepreneur can have its dreamy aspects (after all, isn’t that why you became one?) — and by dreamy, I mean freedom that we can create for ourselves that we don’t necessarily get working in an office for someone else — we also know that it’s more work and stress than most can imagine. We love what we do and we work hard so that one day we can work less and delegate our work to other systems and platforms that we eventually put in place. We also charge what we want, with the intention of providing more value to our clients and in turn, making more money. But, we also hustle and put in more than 40 hours a week most weeks. If any of the following false assumptions have been made about you, raise your hand! And, let your anger and frustration go — because as entrepreneurs, we also know that you just can’t fully understand how this whole “running a business” thing works unless you’re actually doing it.
1) “You have so much more free time now…”
That’s funny. While I’m the boss and no one is sitting here, watching me, telling me that I can’t do something, I still have the self-discipline needed when working alone and respect for my business and clients to put in the right amount of hours everyday, to get the job done. If I’m not working, I’m not making money. Period. You can still find me Monday through Friday, from 9 a.m. to at least 5 p.m., sitting at my computer. Whether I’m in my home office or posted up on the couch, trust me, I’m getting sh*t done.
2) “You don’t really work…”
Let me repeat my very valid point from #1. If I’m not working, I’m not making money. As a designer, I’m a service provider. I’m not at the point in my business where I’m making all of my profit from selling e-courses or digital products. I crank out monthly projects for clients on retainer and I create visual brands for my other clients. I have to put money every week into my bank account. I am physically at my computer, playing the role of designer + business owner. So, if I’m not working on a client project at any given moment, I am most definitely answering an email, writing my next blog post, crafting the next email to my list, engaging in Facebook groups being of service, invoicing, tracking expenses, emailing my accountant about taxes, updating my website or on a call with a client. Shall I go on?
3) “You must have financial backing…”
Not true at all. While some business owners absolutely have family members who might be helping them, larger companies have investors, or they started with a large savings account — it’s not like that for most. Most of us are regular people with regular banking accounts that aren’t busting at the seams and we started with a small amount in them. Because many businesses like mine can be run online, I honestly don’t have a ton of out-of-pocket expenses each month. My money is spent on some printing, buying fonts, paying monthly subscriptions for my design and accounting software or association memberships. It’s different for makers who sell physical products and deal with more overhead, but still, don’t let someone tell you that you need a lot of money to start a business. It CERTAINLY HELPS, but it’s not necessary. You can jump in, do a few important things really well and start generating income fairly quickly. It all depends on what you’re selling, how you’re selling it and to whom you’re selling it. Anything is possible! Just work really hard.
4) “You have to do it all yourself…”
This is so far from the truth. Yes, as an entrepreneur starting out, you’re going to be wearing a lot of hats. Most days, I’m a designer, a secretary, an accountant, (and trust me, I’m terrible at math!) a social media assistant and a writer. But, design is what I’m REALLY good at and meant to do. When you can get to a point in your business where you can afford to delegate and outsource, do it! Hire a virtual assistant (VA) to handle your email, blogging and social media management. Hire a copywriter to write your blogs and website/sales copy. Hire an accountant or bookkeeping pro to handle all of your financials. Don’t feel that you have to do it all. You will get burned out and there simply aren’t enough hours in the day to get everything done, client work and business management-wise. Do what you want to do and do it well. Leave the rest to someone else that you trust to do a good job!
5) “You don’t have to answer to anyone…”
True, I’m my own boss, but I do have people to answer to. A lot of people. My clients depend on me day in and day out to handle precious and important parts of their business. When they email or call, I answer. When they need something designed, I do it. They’re my bread and butter and what keep my business afloat. Without my clients, I don’t make money. I respect them too much to not answer them.
6) “It’s so easy, anyone can do it!”
Sure, being an entrepreneur is not the worst thing in the world. If you’re one, you chose to be one. And, don’t get me wrong, we are so lucky. We get to be our own bosses, do what we love and can give ourselves the freedom and flexibility that we don’t always get with working for someone else. However, this game is not for everyone to play. If someone chooses to start a business because they think it’s going to be fun and easy, they are dead wrong. You have to have self-discipline and know how to wear many hats. You have to be professional, keep clients happy and keep money in the bank. There are countless aspects of being a business owner that I love, but there are many parts that are far from dreamy. It’s all about finding a balance with it. As I always say, this game is not meant for just anyone to play. And, if it is “so easy” – then everyone would be doing it! Just like they would be movie stars, singers and professional athletes.