Six Lifestyle Challenges an Entrepreneur Should Be Ready to Face

Do you have dreams of becoming an entrepreneur or have you taken steps to become one recently? Though entrepreneurship is a glamorous sounding goal, it definitely requires strong perseverance and diligent efforts.

Not everybody can take on this goal and follow it through as it demands overcoming significant challenges and making sacrifices during the journey. Whether you are thinking of venturing into entrepreneurship or are already a budding entrepreneur, prepare yourself both mentally and emotionally to handle the curve balls that will come your way in your business ride.

In most industries such as tech, finance, health, services and others, the failure percentage of startups is high. There are various factors that result in these failures right from not enough proficiency to improper planning to financing troubles.

Without being overtly negative about these factors, suffice to say that one has to learn to handle them by working out solutions suitable to his or her individual venture. It always pays to be prepared for the worst yet expect for the best.

One of the most imposing yet overlooked challenges for a budding entrepreneur is managing the rampant changes that impact your lifestyle in the entrepreneurial path. Read on to understand the hurdles those affect almost every entrepreneur’s lifestyle.

Lifestyle Challanges for an Entrepreneur

Accepting your new working hours:
One of the first things that come as an initial shock to any entrepreneur is the work timings. To be more precise, there are no preset work timings like in a conventional job. Often the hours are long and odd for people starting out in a new venture.

As you get a grasp over your venture you may be able to better regulate your hours, but even then the concept of time, in being an entrepreneur, is altered forever. What makes it possible to accept such a major change is your dream to succeed, passion to be a business owner doing great things and the sheer excitement to keep working on various goals, strategies and business challenges on a mental level throughout the day and night.

Living without perks:
For an entrepreneur it is imperative not to compare themselves with a conventional job holder or even expect the same kind of timely benefits and perks at the starting of their venture. This is a very important and tough challenge to get used to.

Be sure to understand what is involved and how the costs for various vital expenses like your different insurances, childcare and other general perks will be of more value than before. There is no point living the same life like a conventionally employed person, but trying to be an entrepreneur as it’s a total mismatch. Successful business people learn to live without these benefits and pretty soon they manage it without pain.

Sprinkling a generous dash of frugality:
Continuing on from the previous challenge, as a result of not having extra benefits or perks a relatively frugal lifestyle tends to suit most entrepreneurs at the beginning. Despite what many think, an entrepreneurial lifestyle is not all about glamour and riches at least when starting out.

Think about the various changes that can be done in your daily life to adjust with the income reductions and implement them in a phased manner. It might seem like a constant struggle at first, but once you start bringing in frugality, you might even realize that some of the expenses that you cut down were never needed in your life in the first place. It might turn out to be a blessing in disguise, transforming you into a prudent spender.

Forming your own support system:
Making financial changes in your life and becoming more frugal can be much more bearable if you have a reliable personal support system of family and friends. Most importantly, your immediate family members play a very key role. You may face difficulty in convincing your spouse, children, other important relatives and friends to share your dream and passion for the venture.

Ensure that they believe in your goals, sacrifice and passion for what you are trying to achieve and always include them in your efforts and planning, so that they co-travel with you in your journey. Such a clear understanding helps out when your entrepreneurial endeavors takes a toll on your relationships. With a strong support system, overcoming important lifestyle challenges becomes a tad more endurable.

Readjusting to being social yet ‘un’social:
Becoming an entrepreneur can cause a sea change in your social life. Especially, when you start up, you will be entirely occupied physically, mentally and emotionally in your dream venture. This might lead you to put relationships at times on the backburner you may not be able to fully involve yourself in others’ lives.

With your working hours, spending habits and goals all modified to suit your venture, beginning entrepreneur truly face a disadvantage in managing their social life. Even when choosing your social circle, always try to go for people who are supportive of your goals and passion for your venture. Often during challenging times a decent social circle may be needed to reach out to, so choose wisely.

Prioritizing health over wealth:
Lifestyle sacrifices are not fun, but are required for a successful entrepreneurship. However, never let your venture create havoc for your health. Long hours, poor eating habits and improper diet due to being way too busy can cause your health to falter drastically. Remember to always prioritize a clear timetable for your eating and always set aside time each day for taking health-boosting activities such as meditation, yoga or other exercises.

Though it might sound absurd, entrepreneurs who take regular breaks actually are more productive. It is important to let your brain’s battery reset and come back fully charged. Remember the old adage that ‘health is wealth’? Nowhere is it truer than in the case of budding entrepreneurs. Entrepreneurship is in itself a lifestyle and those who understand this fact can accept it quickly and become successful in a short span of time.

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