Member News | Barrie

Your answers to my question… what is the worst and best thing about starting a business?

Thank you to everyone who responded on Facebook. If you didn’t get a chance to see the posts, you may have other thoughts. Please share (although when you see this I will be out of town on an adventure and will see them when I return.

Below is a summary of responses on Facebook.

What is Best About Being an Entrepreneur?

  • Excitement/Freedom
    • Sleepless nights from excitement
    • Worth it in the end
    • Final Decision maker – freedom to decide
    • No bureaucracy
    • Flexibility/choice
    • Freedom to decide when you want to work (which 100 hours a week!)
    • We can be there for our kids/grandkids
  • The work
  • Unlimited opportunities
    • Creative freedom
    • A business in an act of creativity
    • Opportunity to create
  • The People
    • Collaborations and Cool people,
    • Unexpected supporters
    • Mentorship (Mentor magic)
    • We speak the same language
  • Being the best employee!, Loving your boss (lol)

What is the Worst About Being an Entrepreneur?

  • The buck stops here
    • No-one else can do it for you (or sometimes even help)
    • Huge responsibility
  • The work
    • The amount of work
    • Financial and other Paperwork
  • The personal side/confidence: 
    • People who don’t support you (they may be family!)
  • Financial stuff:
    • The days you don’t get paid (unpaid sick days)
    • Financial Valley of Death
    • Cash Flow
    • Starting without financial resources
    • Financing
    • Having the funds
    • Taxes
  • The Unknown/learning
    • Jumping into the unknown/ Uncertainty
    • The learning curve
  • Stamina
    • Having enough energy
    • Exhaustion (avoid illness)
    • Sleepless nights from worry
  • Our choices
    • Not asking for help sooner
    • It can take over your life without boundaries
    • We limit our income potential
    • The little voice that tells us to play it safe

What helps?

    • Staying fit
    • Beer (or for me, wine)
    • Build up cash reserves before you start
    • Tell the little voice (that urges you to play it safe) to take a back seat and watch
    • Also good advice for skeptical friends and family
    • Don’t tell them – Show your family and friends
Patricia Dent
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