When you start your business, you have a vision and goals. Perhaps it is to become wealthy, or to make a better product, or to have more freedom or control. You may achieve what you want — I hope you do. But you will get much more. I’m reminded of this by 5 Reasons Why Entrepreneurship Improves Your Life from Jeff Chavez. He defines entrepreneurship broadly, as I do, including the drycleaner, auto dealer and personal trainer, as well as the founders of manufacturing, professional services or wholesale distribution businesses that grow large.
Whatever business you build, here’s what Jeff says you have to look forward to (with a few comments from me) :
- You’re going to be tested – And this will make you a stronger person. “Be prepared to face and conquer real-life tests as an entrepreneur and to be better for it.
- You’re going to fail – Well, I think Jeff means you’ll make mistakes. And you will — no doubt about it. If you figure out how to fix mistakes and not make them again, you’ll be a smarter entrepreneur. “And it’s the experience of failure that breeds the ability to be flexible, humble, and thoughtful — qualities required to create a company that can stand the test of time.”
- You’re going to learn patience – “It develops as a natural result of the hammering and the failures that you’re sure to experience.”
- You’re going to have a major impact on people – “This isn’t a small thing. Your actions toward your customers, vendors, [business partners] and especially your employees will have a positive or negative impact on their lives.”
- You’re going to develop character – “The development of sound character is perhaps the most important perk of entrepreneurship. At the end of the day, no one really cares how much money you made. They care about who you are.”