Well, before quitting your 9 to 5, let me tell you about what entrepreneurs don’t have. Because in exchange for the flexibility and the inspiration, there are a few things to give up.
1. Peace Of Mind
I’m inherently moody, but most days, I wake up excited. For example, I shut things down for a couple weeks over the holidays. But even if I’m not working that much, the venture is still in the back of my mind. I’m constantly thinking this pause is going to cost us $75,000 in burn to keep paying people for those two weeks.
2. Safety and Security
There are some perks to working for a large organization, namely structure and security. I know people that have been in their current job for 25 years. Me? I wasn’t capable of that. And there is nothing wrong with having a steady job. The people that make large businesses work are critical, and great careers are made in those organizations. I was happily pursuing one myself for many years.
3. A Real Vacation
When I was working as a consultant, I’d take a two-week vacation every year, sometimes twice a year. I could just forget about everything and check out for two weeks. I wouldn’t even bring my laptop. If you’ve never taken a two week vacation in your professional life, I highly recommend it. That extra week makes all the difference.
4. A Stable Career Path
Let’s say everything works out well. You’ve successfully exited your startup with a nice chunk of money. Now what? At a startup, you’re working on the project as long as it lasts — and then it’s over. Are you going to go back to working full-time? Will you be lucky enough to have a second idea that turns into a startup? Are you going to spend your time investing?
5. A Way Back
I know people that tried a startup, failed, and had to go back to work at in a corporate role. That’s not necessarily an easy thing to do. For one thing, people are going to want to know what happened.
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