Entrepreneurs will often enter the startup market, believing that it’s like pretty much any other job. You go to work, do your time, and then go home.
But that’s not how it works out in reality. The life of an entrepreneur is nothing like the cushy job of an employee. There’s nobody to protect you or fall back on. It’s just you versus the rest of the world. And it can be a scary place to be.
Thus, it would help if you went into it with a clear head. You can’t start your journey thinking that it will be like the rest of your jobs except for being your own boss. It’s a different ball game, and it requires a radically different approach.
But what does that look like in practice?
Full Knowledge
Entrepreneurs need to go into their craft with full knowledge of what it actually means. Yes – it’s about leading a company, developing a product, and drumming up capital. But it also requires a certain social deftness you don’t necessarily develop in the ordinary course of your life.
People know that it’s hard to pull the wool over the eyes of a corporation. But it’s surprisingly simple to do when dealing with a single individual. There are no checks and balances in the system – no separation of powers, just the individual’s guile.
Criminals will often target entrepreneurs because they view them as easy pickings. Many who are new to the field have no idea just how nasty things can get out there. They’ll often allow themselves to fall into situations without knowing how they’re likely to pan out in the long-run. And that can often lead to costly mistakes they never expected.
In short, entrepreneurs need to view everyone around them as an enemy until otherwise. Failing to do so can leave you vulnerable.
Criminal Action
We already touched upon the issue of criminal activity, but it is worth reiterating here. According to Contextual Security, entrepreneurs need to prioritize their online security today more than ever.
There are several reasons for this. The first is that CEOs tend to be “high-value targets.” In other words, criminals know that if they can compromise your systems, they stand a much better chance of extracting money from you.
Criminal action is a continual threat for entrepreneurs because they’re the ones responsible for clearing up the mess.
The State
Lastly, entrepreneurs will often go into business with naive beliefs about the role of the state. Governments aren’t a friend of business, even if they try to pretend they are. Instead, they view themselves as duty-bound to extract as much tax revenue as possible.
Company owners need to understand this – at least unconsciously – before they go into business. It’s not always their company. Instead, it is something they run on behalf of regulators and the relevant tax authorities. It’s sad that it has to be that way. But understanding this dynamic is crucial for avoiding pain later on. It prepares you for the harsh reality.
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