Top Three Myths of Being an Entrepreneur

For some people, becoming an entrepreneur sounds idyllic. Entrepreneurs are in charge of their lives: they work when they want to work, they make lots of money, they answer to no one. It sure sounds good on paper. In reality, entrepreneurs aren't as "in charge" as you might think. I'm convinced that there are three main reasons people become entrepreneurs and, interestingly, each reveals a much less perfect reality.

I'll Be My Own Boss
Let's face it, if you thrive on the traditional hierarchical work structure, you've probably never considered becoming an entrepreneur. Most people become entrepreneurs because they want to be their own boss. But that's not exactly how it works. The minute you start your own business, you answer to every client you have or ever hope to have -- even the crazy ones. It's not all bad, though. In a traditional job you can't choose not to work for your boss, at least not without quitting. As an entrepreneur you can choose not to work with truly awful clients if you absolutely have to. But this is hardly something you'll want to do often -- if you're too picky about your clients, you're not going to stay in business for long.

I'll Finally Know What "Work-Life Balance" Is
I hear this a lot from people who start their own businesses: they want to set their own hours, spend more time with their kids or take more vacations. Where did this idea come from? Any entrepreneur who has achieved success will tell you that the hours they work can be intense, especially in the early days. True, you can set your own hours to some extent, but not entirely. Remember who's paying your salary -- your demanding clients. Most of them probably work set hours and expect you to be available when they are. But if you really love what you do -- and if you're going to be an entrepreneur, that's kind of essential -- all of those extra hours you're putting in should be rewarding.

I'll Make a Lot of Money
I recently read an early copy of Driven: How to Succeed in Business and in Life by Robert Herjavec. The author expresses what it takes to be a highly successful entrepreneur -- he also states that not everyone has that drive. Plenty of entrepreneurs have made a lot of money, but the majority consider themselves lucky to be making a decent living doing something they love to do. If that's what it's all about for you, you'll be a much happier entrepreneur.

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