Entrepreneurship

5 Misconceptions About Being Your Own Boss

Becoming a business owner has been a dream that millions of people have pursued, some have even taken much of their lifetime so see their dreams fulfilled. I didn’t always see myself as an entrepreneur because honestly, I didn’t know what it really meant until college. I grew up around several family members who owned businesses and performed side-hustles, but I didn’t grasp that it was entrepreneurship at the time because it wasn’t a popular, “in-your-face” option like it is today.

As a boss most of my life is behind-the-scenes. Yes, I share photos on social media pretty regularly and I have a website where you can read about various topics, some of which involve my life, but the important stuff can’t always be shared. This leads to lots of misconceptions about what it’s like to be a blogger or entrepreneur, at least if you’re watching my journey.

Misconception 1: Bosses have complete autonomy.

This is somewhat true. Bosses do have the privilege of governing themselves but we also have people that we must answer to, contrary to popular belief. Whether it’s our clients, customers, readers, investors, business partners, board of directors, we do have to be accountable and follow through on the promises we make. If we don’t, our businesses won’t thrive and survive.

Misconception 2: Being your own boss is an easy process.

I started my first business venture in 2009 and didn’t go full-time as an entrepreneur until almost a year ago. The easy part is registering with the state and federal government, anyone can do that. What about after? Bosses are decision makers and must actually set up the business. That means logos, prices, budgets, proposals, systems, operational duties, research all falls on you. You must have some know-how or the ability to teach yourself a lot until you’re in a position to hire someone to do it for you (but it’s better to learn it yourself first so you can be familiar with it). Even after that, you have to stay on top of your business and keep things flowing smoothly.

Misconception 3: You’ll make more money as your own boss.

This is somewhat true. You can make more money as an entrepreneur but most times it takes awhile for this to happen, depending on the industry you’re in. Some people make more money right off the bat, others have to grow to that point. Don’t feel bad if you have to work part-time at other places until you’re in a position to go full-time on your own.

Misconception 4: Everyone can be a boss.

This is a huge misconception. Just because you have a great idea or the money to start a business doesn’t mean that you are cut out to be a boss. There are many traits that successful bosses have that come naturally or are developed over time. The most important quality is resilience. If you give up easily or get frustrated as and when you don’t receive the results you wanted or aimed for, you cannot become a boss…at least not until you develop that quality.

Misconception 5: Being a boss is a glamorous lifestyle.

Being an entrepreneur can be glamorous but most of the time it’s not…even when it is, if that makes sense. There’s a lot of behind-the-scenes stuff that people just don’t see. I’ve been in some horrible financial situations, I’ve had clients that didn’t pay on time, I’ve had to miss important events because of work or other business related obligations, it’s mentally exhausting, people are constantly giving unsolicited opinions which can sometimes stress you out and the list goes on. I’ve had many nights where I’m glued to my laptop until the sun comes up and times when I didn’t want to get out of bed because I was so tired of working. On the flip side, I learned to embrace the struggles and fall in love with the process. I’ve never been without anything I needed and God blesses my business constantly.

Your turn to talk…

Share with me in the comments section below if you had any of these misconceptions or if you’re a business owner and can identify (or disagree).

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