If this were written back in 1966, then a young Richard Branson would be hard pressed to come up with one thing he would be able to share with fellow innovators, let alone 12. It wouldn’t have been until a year or so later that he would start to experience what only entrepreneurs find out the hard way.
Here in Australia, according to the Australian Bureau of Statistics, the country is home to around 2.1 million small businesses as of June 2015, all of which are driving up the country’s economic growth through sheer hard work and entrepreneurship.
Some people say that entrepreneurs are of a different breed, and that is true. Unless you’re an entrepreneur yourself, here are 12 things you probably wouldn’t relate to or understand.
1. Giving yourself permission to “do different”
No need to wipe the smug look off your face because there is nothing in the world that feels the same as being your own boss, and more importantly heading up the company. You get to call the shots, make the decisions and test out your own ideas and how they are put into practice. This is where the rulebook can go out of the window. You know that people perform best when they are happy at work so you can come up with different ways to motivate your staff.
2. You are the company 24/7
It’s on your mind when you wake up and the last thing you think about before you go to sleep. Even when dropping the kids off at day care or sitting in the bar so-called “chilling”, ideas are whizzing around in your head.
3. You cannot throw a sickie
The responsibility is yours and you carry on no matter what, even when you are feeling like death warmed up.
4. You know it doesn’t just affect you
Family and friends will get caught up with your business and you need to have someone to bounce those ideas off, so when you are on a high, you know you take loved ones along with you. Conversely, when times are incredibly stressful, they are with you on the rollercoaster as well.
5. You keep a notepad by your side at all times
Whether for waking up during the night, walking the dog or washing the car, you have either an electronic or paper device to record those ideas, tasks, priority lists, etc. because you don’t want to waste a single thought.
6. You are all employees rolled into one
From ground floor to corporate strategist, you can turn your hand (and yes, entrepreneurs can expect this) to any job, role and task in your business. Delegation is not an option.
7. You find it hard to relax
Time off is not a concept that sits easy with you, as you are the driver when it comes to your business. You know that there is no one else taking over the reins while you kick back for a week or so because down time is wasted time. Recharging the batteries for those in salaried positions is a must, and friends won’t understand why you cannot do the same.
8. You cannot wait for the “right moment” to launch
Those who are planners and perfectionists will find it hard to justify some of the actions or risks that an entrepreneur takes. Waiting for the right time to hand in your notice and start your business is not an option with innovators. Taking that risk and leap of faith will not sit easy with those of a more conservative approach, but it is well understood by others who have launched their own company.
9. Failure is not the end of the line
In fact, failure can be a learning opportunity to revisit and refresh your approach and carry on – bloodied but not unbowed. This could be a very difficult concept for some people to accept, and some will not understand why you don’t come back to that safe haven of the salaried workforce.
10. Coffee, and not the dog, is an entrepreneur’s best friend
There will be times, many of them, when that late night cup, or three, of coffee is all you have to keep you going in order to meet that essential deadline. And speaking of friends, being “the boss” also means it can get a little lonely sometimes. You’re probably not going to hear any office gossip standing around the water cooler, for example, and that just comes with the territory.
11. You are a human dynamo
Being the business means you have to keep everything ticking over while planning ahead for the next big launch or lining up the next set of orders. Entrepreneurs do not stand still but are always anxious to move on, which can be difficult for others if they see that what you are doing right now is successful. You not only know that resting on your laurels is uncomfortable, but you also need to keep going so that the business does.
12. You self-promote even when you are not in the work zone
Wanting to promote your business every chance you get means you don’t switch off because you are attuned to a potential opportunity the way Batman picks up the Bat Signal. This is also the case when it comes to getting the whiff of a potential funding pot because your radar homes in on all possibilities.
Peter Ling is the director of ABACUS.CO, a POS software system and app that will transform the way you run your business. Armed with 25 years of experience in the hospitality industry and a Masters degree in Business Systems, he’s taken the leap of faith into the world of entrepreneurship and, despite its ups and downs, wouldn’t trade the experience for the world.
