Almost everything in life has pros and cons. On this occasion we will talk about the disadvantages of the venture and how to survive these disadvantages.
There are two things we can do when faced with a problem, difficulty, or disadvantage:
- Break up and run away.
- Or find a way to shine despite weaknesses.
If you want to become an entrepreneur, you must choose one of these two alternatives, because if you decide to become an entrepreneur, you already have some disadvantages ahead of you: will you run away and give up entrepreneurship, or are you looking for a way to shine despite these disadvantages?
You may already have an answer to this question, but it would be more persuasive if you answered me if you already know the downsides of the endeavor.
Because of this, in this article we will learn two things:
- The disadvantages of entrepreneurship.
- And how to survive these disadvantages.
What are the disadvantages of entrepreneurship?
Although we have already said that starting a business is not difficult, we cannot deny that there are cons that can cause us many problems if we do not already know them. So without further ado, let’s get started!
#1 We need more dedication
If you decide to make an acquisition, you need to be aware that you have to devote many more hours to your business than to your job.
Why is this happening? because your business is a baby that you must take care of and feed in order for it to develop. That means you have to take care of endless tasks to keep it thriving.
You no longer only fulfill the tasks of a department as in your job, but manage an entire company. And the beginning is a bit forced, because if you don’t have a lot of resources, you have to play more than a staff role.
#2 You have to deal with customers.
Another disadvantage of entrepreneurship is that you deal with customers. Maybe you’ll tell me, “I did that at my job,” but I’ll tell you that taking care of a customer as an employee is not the same as it is as a boss. Why?
Because the responsible person or boss is the one who has to watch over the strategies, services and products in such a way that the customer likes it.
As an employee you only follow one line and although you are often insulted even by customers, it is the company that must try to please each of them, to meet the different needs, to find a balance…
…And although you don’t have a boss who relieves many of the takeovers, you are under the command of your customers: what they want is what you have to do! The customer can be a more demanding boss, even more so when there are many of them and they contradict each other regarding your product or service!
#3 You will need money And more money!
If you look for the downsides of the endeavor, you might find yourself in one of these three positions:
- You are employed and want to be your own boss.
- You have your job, but you want to start your own business at the same time.
- You are unemployed and want to find a good source of income.
Whatever your position, money becomes a disadvantage when it comes to ventures.
- If you quit your job you will have no income to support yourself and worse, you will need money to invest in your business.
- If you are doing business and working at the same time, the situation is not so strong. But you will have a drop in your income because you have to invest.
- If you don’t even have a job, the situation is more difficult: it will be difficult to get money for investments!
But the problem isn’t just the initial investment. But the constant costs involved in starting a business. This, combined with the little time you will have to generate income from any other source, is a major disadvantage!
#4 The risks keep increasing.
Entrepreneurship always involves risks, such as the fact that the business is not as profitable as thought, the competition is stronger than us and a number of contingencies that can hinder us.
However, we are in an era where the word company has been considered, and is that a good thing? Let’s say yes, but… not much!
Well, the fact that there are many entrepreneurs means that competition is increasing, increasing the risk of business failure which, coupled with the high demands of consumers, can be a very dangerous bomb!
#5 Liability can be affected.
Let’s be a little honest, if you get to work early (when you do lol) it’s because you have a boss who can admonish you and even fire you if you don’t.
For the same reason, are you trying to excel in your work, or am I wrong? Although they are not all, most people are responsible when a higher authority demands it and can admonish them.
One downside to the endeavor, however, is that you won’t have that power. Many people, when they become independent, instead of getting involved in their projects, use the fact that they don’t have a boss to sleep more, not work one day, live comfortably, etc.
This excess will eventually fail you. Lose all jobs and create habits of irresponsibility.
#6 Bad habits, family neglect.
If we commit, we risk forming a bad habit. Unlike the previous point, it does not relate to business, but to your personal life.
Since entrepreneurship requires that we devote a lot of time to our projects, we can become too busy and neglect our families.
It is not the first time that a person works day and night and loses the good relationship with his family. Likewise, it often happens that you neglect yourself for the same reason (you no longer exercise, you don’t dress well, you don’t take care of your health, you don’t respect mealtimes…).
How do you survive these disadvantages?
“For those who believe nothing is impossible, you must commit!…#HazloFácil”
It’s not impossible! and then I will teach you how to overcome these disadvantages, since the idea of knowing them is not to intimidate us and surrender, but to overcome them like all warriors!
#1 Get organized and seek help.
When we have many tasks and something requires a lot of effort, it is best to organize ourselves well, otherwise we will be a disaster! On the other hand, I encourage you to seek help and I’m not talking about hiring people (although it would be great if you had the resources) because I imagine you don’t have many resources…
…I mean partners, i.e. responsible people who want to start a company with you, then the burden would be less!
#2 You need to educate yourself, listen to the customer, analyze and experiment.
Since you deal with customers, it’s best to let you know everything about them, so I’ll leave one for you List of articles that will help you.
On the other hand, listen to your customers, open a space for complaints and recommendations, and then analyze them with your team and see what you can improve. Polls are phenomenal!
Once that’s done, you can see changes and measure the results again. But the key is to educate yourself in management matters. The list I shared above will help you!
#3 Don’t quit your job at first and look for other sources of income.
Don’t think that quitting your job and starting a business is easy. Also, I invite you to check out an article we uploaded yesterday: Leaving the work to the company, madness or a good idea?
Follow the tips we share there. Look for other sources of income as well. Whether you have a job or not! An example can be finding investors, partners, selling some things you no longer use, etc.
#4 Be careful and reduce risks.
One of the downsides of the endeavor, which is almost inevitable, is the risks. However, it is something we can reduce. For this we must be careful and not start an adventure without having made even a business design first.
While it’s true that companies are a risk, we can’t deny that improvising a company is more risky than doing a whole study and at least having our canvas model.
#5 Work on discipline.
The good thing about disadvantage number 5 is that we can avoid it. As? practice discipline. In order not to persuade, I leave you some links where we have already covered these topics:
Do you want to be more disciplined?
#6 Get organized and keep in touch with your relatives.
As always, organization is key. However, we must be aware that no matter how organized we are, it will be difficult to share it with loved ones as before (but it is possible).
For this reason, I recommend that you talk to them about your plans and ask for their understanding. If it is possible for them to help you, but all in a good way!
Don’t be the bitter entrepreneur who gets bogged down in his jobs and doesn’t talk to anyone. Use your free time, even if it is short, to talk to your family and tell them why you work so hard.
There should always be time for your health, it is the first thing to consider in your agenda.
What do you think of the article?
I hope you liked it and it helped. As I told you before, it’s not about knowing the cons, it’s about knowing them and finding a way to deal with them.
I am sure that if you follow our advice, your business will have more advantages than disadvantages.
And you, what do you think are the disadvantages of the venture? I hope to read your comments. Until next time!