5 Realities of Entrepreneuership by Joel_Nielsen


More Info
									                                  The Five Realities of Entrepreneurship

My cousin Brian recently posted an article titled 5 Ways To Test An Entrepreneurial Idea. It was full of
cute and inspiring ideas on how to succeed in the world of small business ownership. “Research an
analogy, contact your prospective clients” and my personal favorite “visualize it.” When I read the last
one I choked on my cup of Ramen Noodles that I was slurping down for lunch.

What really bothered me is that the concepts are nice, but they are not forged in the relentless heat of
reality. I had the impression that the article was penned from the comforts of a corporate cubicle than
the tough trenches of business ownership. I’ve been self employed for 16 years, have an MBA and can
tell you that you can “visualize it” all you want. It won’t pay the bills. However, a lot of hard work and
then some more hard work just might.

Instead of passing on fanciful small business strategies that only work on paper, I’ve decided to be
completely honest and pass on 5 (somewhat sarcastic) truths about entrepreneurship that no one will
tell you. Buckle up.

    1.  If you enjoy not knowing where your next pay check will come from, entrepreneurship is for
       you! The time will (slowly) come when you are getting nice checks, and it makes you feel good.
       Then you start to pay the employees, rent, inventory, and the phone system that keeps crashing
       on you. What’s left over is depressing. Quickly you check the numbers to see where it all went
       and for the first time you realize that your secretary makes more money than you do. I realize
       that this little nugget of information is probably a buzzkill for most of you, but small business
       ain’t for the faint of heart. Read on.
    2. You may be the CEO but you’re the secretary, IT guy and janitor too. What a luxury it must be
       to drop off work assignments so that you have time to golf with your buddies in the afternoons.
       Ohh wait, you ARE the staff! If you’ve never been much of an accountant, network engineer or
       HR person, you will be.
    3. You office will be open more hours than a 7-11. If you’re serious about becoming successful be
       prepared to be the first one to the office in the morning and the last one to turn the lights out at
       night. Have you ever heard that song “It’s 5 o’clock somewhere.” It probably is, just not for
    4. You are unique which makes you weird to everyone else. There are few of us out there who
       are independent, driven, and inspired to live the American Dream. Congratulations, and
       welcome to the club. While this makes you incredibly unique to us, it means that you are
       completely out of touch with others. You should remember that there are actual people out
       there who are satisfied punching a clock, collecting vacation hours and calling in sick so that they
       can golf in the afternoon with their buddies. Over time we start to see each other as alien life
    5. You will be thought an idiot until you start making money. I only have one book, The Little
       Red Hen that is mandatory reading for my staff. Business ownership is exactly like the story. No
       one wants to plant the wheat or harvest the wheat or grind the wheat. But when the bread
       comes out of the oven, people will appear out of thin air. The lesson? Find those people who
       are hard working like you, who roll up their sleeves and just “do” the dirty work. And because
       you have read this far I’m going to offer you a final piece of advice. These people do exist but
       are rarely found amongst family and friends. Your dream, your passion is not theirs. Accept it,
       appreciate it, move on and remember the Little Red Hen

While my 5 truths may take some of the wind out of your sails, I can also tell you that there are few
things more satisfying than building your own little empire. There is a sense of satisfaction and pride in
watching your dream become your reality. As Americans we have a genetic propensity to challenge the
status quo and to stretch boundaries, limits and imaginations. It’s what makes us unique.
Entrepreneurship can be the biggest challenge of your career but it can be the most rewarding too.
“Visualize it” when it falls apart. Roll up your sleeves and get dirty when you are ready to succeed.

Joel Nielsen is the founder of MediaShark, LLC in Salt Lake City, Utah. A chronic entrepreneur, Mr. Nielsen
has 16 years of experience consulting thousands of businesses in Marketing, Management and Social
Media optimization.

He has a BS in Business Marketing from the University of Phoenix and a double Master's degree in
Business Administration (MBA) and Sports Administration (SAFM) from Ohio University. Mr. Nielsen
recently completed his Six Sigma Certification through the University of Utah and has been a guest
speaker to both National and International audiences. He can be reached at mediasharkllc.com

To top