Five things nobody tells you about successful entrepreneurs

The glamorous life some successful entrepreneurs lead hides their little, lonely, challenging beginnings and presents an incomplete story of what entrepreneurship entails.

Here are a few things you might not hear until you find yourself in the jungle of entrepreneurship.

Nobody talks about the risks

The first thing that strikes you about the glamour of entrepreneurship is the overwhelming focus on the rewards. We’re hardly told the back-story of the pains and risks that came before the rewards.

We are constantly fed tales of heroic people who started a business from their parent’s garage and built it into a multi-million dollar company. We are regaled with stories of employees who quit their jobs to take on entrepreneurial pursuits.

Truth is; if we really knew just how much risk entrepreneurs expose themselves to, we would admire their guts more than we envy their success. Entrepreneurs often take risks that don’t make any sense at the time, and that’s how they’re able to reap the big rewards.

This does not mean an intending entrepreneur should not focus on the rewards and pleasures of entrepreneurship. The point is that an objective picture is needed. The rewards of entrepreneurship are only half the story. The pains, frustrations, risks and challenges are actually the most important parts of the story.

So, if you want to be on the cover of Forbes Magazine, you need to have the courage to take risks. The bigger the risks you can take, the bigger the rewards you can make.

It’s a lonely journey until you make it

This one is a fact: nobody cares about you until you make it.

Many people just don’t realise how lonely entrepreneurship can be. Especially in the early days and years, you’re in the driving seat of the business and the burden rests squarely on your shoulders.

Except you have a supportive business partner, co-founder or mentor, the journey is usually a very lonely experience for many entrepreneurs. Worse still, in spite of everything you’re going through you still have to be your own therapist.

People are drawn to success. But until success comes, you’re largely invisible. If you’re looking for fame, I’m sure this could be very disappointing. But I think it’s a good thing because this loneliness is the best opportunity you have to focus on nurturing and growing your business into a huge success.

Success usually comes with a heavy dose of distractions. Press interviews, invitations to speak at local and international conferences, mentorship and coaching requests, and the pressures of managing your rising public profile are just some of the distractions success will bring into your life.

Self-doubt will haunt you

Entrepreneurs often come across as visionaries; people who see and act on things that others don’t. What we often do not realise is that visions are not certainties. And things can go wrong as we try to bring a vision into reality.

Self-doubt is one of the most common fears that haunt entrepreneurs. Whenever we take risks or take on challenges that don’t have an assured outcome, it’s human nature for doubt to creep in at every turn.

This is why most successful entrepreneurs are big believers and perennial optimists. It’s this unconditional belief in their vision that propels them to conquer their doubts and achieve success, in spite of the odds.

Things will happen that will test your confidence and make you doubt your vision sometimes. Disappointments and frustration could push you to the brink of despair. But because they’re big believers, entrepreneurs usually recover from these setbacks.

It’s not just about the money

While money is certainly a strong motivator for entrepreneurs, to make it through the dark and lonely days of building a business, you will need something more than just the “love of money” to keep you going. Some entrepreneurs do it for the passion, fun and excitement. Others do it to contribute something valuable to the world, and to make an impact.

In the end, money is just one of the rewards for the risks entrepreneurs take, but it’s not the ultimate reward. It’s just a way to keep score. Recognition, impact and self-actualization are actually far stronger motivators than money.

You’ll be broke sometimes

Many people become entrepreneurs because they want to make money. The reality is, you may have to ‘lose’ money first before you make any money. Anybody who’s bootstrapped a business before would know what I’m talking about.

When you’re really committed to building a business, it’s natural to give it everything. To pay salaries, keep the lights on and meet all the other obligations of your business, the entrepreneur often has very little left to live on. But as long as their vision is alive, most entrepreneurs know that being broke is only a temporary condition.

Entrepreneurs are like farmers; they always look forward to the harvest. But until harvest time comes, they’ll do everything they can to keep their crops alive, even if it means staying hungry and broke. By the time the harvest comes, all the pain, suffering and sacrifice will be long forgotten.

STEPHEN ONYEKWELU