The True Cost of Entrepreneurship

May 11, 2012 / Kagiso / 5 Comments

We all know we live in a very opportunistic climate, where we feel what we see on TV and “living the dream” define our character and career goals. Just like everything in life, entrepreneurship is seen as a very glamorous and fulfilling option for many youngsters. But how  many youngsters understand the true cost of “going at it alone”?

This post is not to highlight a cynical view on entrepreneurship, but a more realistic view from an entrepreneur to other aspiring entrepreneurs. The goal of this article is to help give insight and give some advice that owning a business is not only about owning your own business, having flexible hours and ultimately making loads of cash.

First of all, understand that in achieving these, you need to go through a period of stress, loneliness, uncertainty and lots of rejection on the path to proving yourself, your service/product and your brand. You have to be a leader, and be able to handle the bad and trying times just as well as the good times. Surround yourself with positive people who will motivate you and not doubt what you doing. Granted some ideas are not really that great and need some realistic outlook to bring them back to earth, but for everyone else on a very “stupid idea”, that stupid idea can be worth multi millions one day. So it won’t kill you to try, and in doing so, surround yourself with amazingly positive and supportive people.

Don’t rush things, never think you going into business as the best and can never learn. The best businesses are run by the best students of life, learn from the people you come across, never think you have reached your peak, in business its all about learning. I’ve been blessed to be in an industry thats constantly changing, therefore complacency is never something that comes up. The competition is tough, the services are forever evolving, therefore being on your toes is a must.

Remember at the end of the day what you will gain financially from your business will come at a cost of your time (long business hours), your health (the stress) and support systems being there or not. So its all about the sacrifices, if you willing to work more than you would under an employer (weekends included), usually with no immediate financial compensation, then you built for the initial phases of a new business. So how do you calculate the true cost of your own business? What you make monthly divided by the amount of hours you put in, plus any medical bills incurred (even those necessary Vitamin C tablets you take).

If you willing to accept all those, and more for this challenge, happy business

*Views of this post are solely the views of Kagiso Gustav Rona Mutlaneng and not Purple Online Media Solutions or its affiliates.