For most people, becoming an entrepreneur isn’t a case of waking up one day and deciding to start their own business out of the blue. That’s one way to do it, of course, but 99 times out of 100 (or even more frequently than that), entrepreneurs are born with business brains that cannot be tamed – even from an early age. That is to say, the entrepreneur who now runs several successful local shops was probably selling confectionery in the schoolyard – entrepreneurs don’t switch on the magic, they always had it to begin with.
But that leaves us with the notion that anyone who has yet to start their own business is on the scrap heap. Not so. You can of course make the choice at any time to change your fortune and follow your dream. But there are some things no one tells you about being an entrepreneur that may interest you…
International transactions
Not all transactions are carried out with people who live within one kilometre of you, using a currency you are familiar with. No. Some transactions will be international (check out the best payment gateway for more info).
Where a transaction is international, different laws will govern how that transaction should be carried out and exactly which taxes should be paid along the way.
Take the example of touring musicians. Let’s say an Australian band plays five shows in America, eight shows in England, four shows in France, and two shows in Switzerland before heading home. That’s a lot of taxes in four different countries that have to be paid. International transactions are not simple. Make sure you get in the know before “being a business person without a care in the world” becomes “being a business person that’s on the to-do list of multiple international authorities”.
The hours are long (and it never stops)
Fans of the acclaimed online content creator Supercar Blondie enjoyed the presenter’s fast car reviews for over three years before the Blondie in question began to hand over the reins to new presenters, citing the long hours and only getting 2-3 hours sleep per night as a factor in stepping down from the limelight.
Many other entrepreneurs are on record stating that the hours are long and there is no escaping the mountain of work – you literally only have yourself to rely on. There is no one above you to make the hard work go away. You’re all there is.
If 80 hours per week sounds too steep, you’re probably in the wrong game, as 130 hours per week (with working weekends and only getting 5 hours of sleep per night ) is not unheard of.
It’s lonely at the top
There’s only room for one CEO. And if you’re it, things can get awfully lonely awfully fast. Be sure to make time at least once per week for friends and family. Not just because they are what is really important, but because you genuinely risk alienating yourself and burning out if you don’t know when to put the brakes on and take five minutes to check in with reality.
