The Life of an Entrepreneur

If you are thinking about starting your own business or have ever thought of it before, there is an endless list of upsides to the idea. However, it is accompanied by a few downsides, so before you sign on that dotted line, take a look at some of these benefits (and downsides) to engaging in such an adventure.

For me, waking up early is one of the hardest things I have to do throughout the day. The first plus of being your own boss is that you don’t have to be at the office (coffee in hand) at 8:00 sharp. Your hours will become more flexible if and when you start your own business. And even though sometimes you will have to have an early day, there’s never a time to clock in or out. Other life benefits follow as well. Soon you’ll find yourself able to make a little more time for family, friends, and hobbies. And not only the personal benefits, but professional also! No longer will you have to hold back any ideas you have because of a boss- your creativity will begin to shine, for you are your own boss. And while your financial situation can be a pro, it’s a thin line one walks. It all starts and stops with you. In other words, the income and success of the company will always come back to what you choose to take out of it. The more work you put in, the more success it will have (hopefully!).

And with all this knowledge, it is also important to understand the downsides and risks. First, because you will no longer have a steady income, it will most likely fluctuate. Especially in the beginning, expect some dry spells. Therefore, now more than ever, it is important to make a tight budget and stick to that! In addition, you will need to find health benefits and so on because your boss or company will no longer be supplying them to you. To continue with this theme, don’t forget to set up a retirement plan for yourself now that it won’t be through a company! So all in all, you’ll be much more self- sufficient. You will have the responsibility to provide for yourself. The work will be tough, and in the beginning, the hours will be long; but, with a little blood, sweat, and tears, the benefits will far outweigh the downsides.

   - Katie Denshaw