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The Daily Realities of an Entrepreneur

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Entrepreneurial Mindset Series (EMS)

The daily life of an entrepreneur is not that of your regular guy-next-door. It is an exciting one, laced with so many uncertainties, yet very rewarding. Ask Mike Lazaridis, John Molson, Harrison and Wallace McCain and other successful Canadian entrepreneurs about their entrepreneurial journey. You’ll be amazed at how much they had to overcome to stay on top of their chosen field. Regardless, I’d rather be an entrepreneur than continue to be an employee.

For starters, an employee is always at the mercy of his employer who has the power of terminating the employment of a worker. An employee is similar to a minor in terms of his dependency and responsibilities. A minor is provided with almost everything till he can stand on his own. He is provided with shelter, food, clothing, and other necessities of life. He does not take decisions on his own and even when he makes mistakes, someone is there to pick him up, share in the blame or rescue him. A minor has little or no cares in the world.

Same goes for an employee.

An employee works in an office already paid for, doesn’t pay staff salary even if they are team members. He has no overhead and is only partly responsible for actions taken in the course of his work. As long as he works, he has no fear of not being paid for the work done.

First Generation Canadians have been known to be dedicated workers. Take it one step further. Transit from being an employee to becoming an entrepreneur if you love such an adventure. Embrace the less travelled road to success.

An entrepreneur on his part, is solely responsible for the success or failure of his business. He cannot afford to rest on his oars until he achieves his aim. An entrepreneur has his daily realities, some of which I’ll share below:

Mistakes are his best friend
If you’re not comfortable with making mistakes and feeling stupid, you shouldn’t be an entrepreneur. An entrepreneur will definitely make mistakes. His job is to figure out how things will work out and that’s through trial and errors, in other word, mistakes. Mistakes are an integral part of growth. Love it and grow. Hate it and cease to grow.

An entrepreneur is not like an employee who always needs to be right. Being wrong for him is a feedback from his network – of customers, clients, suppliers, the economy, weather, competition, etc. He makes decisions based on the feedback he gets.

He is passionate about his business
An entrepreneur is passionate about what he does. Passion will propel you beyond challenges. Passion is needed for every start-up. However, passion should not be misdirected. Don’t be passionate about the product you created but about why you created the product. This helps you to allow the product to evolve into becoming something that matches why you decided to create it in the first instance.

Passion works well with the market to achieve success.

You need to be passionate about solving your customer’s problem; making your customer’s life better; be the best at what you do.

He has a possibility mentality
For an entrepreneur, he’s perpetually looking for a way out. He never waits on someone to get things done. His perspective is to go all out to make things happen. A real entrepreneur is not easily deterred when he experiences difficulties. He is a solution provider.

An entrepreneur has the experience of being fully responsible for the result of a venture.

First generation Canadians have been known to be dedicated workers. Take it one step further. Transit from being an employee to becoming an entrepreneur if you love such an adventure. Embrace the less travelled road to success. Dare to dream and get ahead while at it. Change yourself to an entrepreneur emotionally as quickly as possible. Make the mental adjustments and get ahead.

Make no mistakes about it, learning about starting a business and being an entrepreneur isn’t the same as being one. Jess Huffman describes it this way:

You can go down to the pool, watch videos on swimming and how to be a swimmer, hire a coach that gives you lectures on the art of swimming, watch live swimming performances and competitions. You go through all sorts of preparation. But there is an aspect of swimming you don’t experience until you jump! Now, the more preparation you do, the better you’d be. But, until you jump, you aren’t a swimmer.

When you have a shift in paradigm from an employee to an entrepreneur, you find out that the odds are not really against you. It’s your mindset that created a mental block before.

This article was created from Episode 121 of The Immigrant Life Podcast. Listen to Entrepreneurial Mindset Coach, Jess Huffman and Veteran Podcaster, Dapo Bankole, as they shed more light on the entrepreneurial journey in the Entrepreneurial Mindset Series (EMS).

Written by Yinka Bakare.

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