- Being an entrepreneur is rewarding.
You're able to build something that you can call your own
at the same time, people won't always tell you some of the
scary truth about being an entrepreneur.
- Like the headless hot dog.
But seriously.
Sometimes, we don't always tell you the whole story.
We always talk about the great stuff,
like working whenever you want to work.
No bosses, no one to tell you when to go to the bathroom.
I get it, but there are some scary sides
to being an entrepreneur
like the first one with organization.
Being an entrepreneur means you have to be organized
or else it's just chaos all around you.
- And especially, when you don't have a boss
telling you what to do, you have to be on your game.
Many entrepreneurs say that they lose four hours a week
of free time because lack of organization.
41% of those entrepreneurs that are on vacation,
they'll take time away from that to work on work stuff.
The key is not to schedule your priorities,
but to prioritize your schedule.
- Right.
And 36% of the people polled say they have a general
work-life balance which is tough.
You know I like to watch movies, right?
- Yeah.
- Did you hear about the movie with the hot dog?
- What movie?
- It won an Oscar wiener.
(laughing)
- So it's so important to take care of yourself.
I understand, you want to make sure that your business
is growing and it's going well.
At the same time, you need to have a good balance
between work and life.
63% of entrepreneurs say that they specifically
take time off so they can do self-care.
- Yeah, that number was actually surprising.
I thought it was going to be a lot lower
'cause I talk to a lot of small business owners
that they just work, work, work.
Most people think that when you become
a small business owner you can work whenever you want.
If you're afraid of 40 hour work weeks right now,
chances are when you're an entrepreneur,
especially just starting out that workload's gonna be
60, 70, 80 hours a week getting started,
so that work-life balance is crucial.
So, hey genie, when you're chilling in the lamp,
what do you like to do to just kinda unwind and relax?
- Good question, wienie.
I wish I had enough time to watch movies,
but I keep getting asked by all these people for wishes.
- So another scary truth about being an entrepreneur
is you have to be a part-time accountant.
I get it, it's another hat you have to wear
on top of running your business on top of your head,
but we sometimes forget that that's vital.
We have our normal paychecks
when we're working nine to five.
Those taxes get taken out.
If you don't plan ahead for this,
come tax season, you're talking
about thousands and thousands of dollars
that you have to come up with out of nowhere.
So, if you don't plan ahead for this,
you're planning for disaster.
- And in all honesty, you don't want to go up against
that other three scary truths, I-R-S.
And you want to make sure you're getting paid on time.
Any outstanding invoices, you want to make sure
that you're getting those when you need them,
because the consistent cash flow can make sure
you're staying afloat.
- Yeah, I know, it was super tough for me
when I freelanced in web design that was sometimes hard
when I relied on that money coming in.
And I sent out those invoices and then those reminders
and the client still hasn't paid,
you're stuck with no money.
So, plan ahead for that and make sure you set
really good expectations with your clients.
The money schedule and the payments,
so that you're protected with your business.
- And the next scary truth is
you want to make sure you're in it for the long haul.
Now, if you're not a foot long
or a genie that lives for 10,000 years
and you have instant gratification syndrome,
you may not want to go into business for yourself.
Yes, it's gratifying,
Yes, you want to make sure you have all these
creative outlets for you in building this business,
but it's going to take some time,
so be patient and know it's longevity that you're after.
- So, we're not always going to be able to work
on the fun stuff, the thing that really got you
into the business itself.
Sometimes, you got to work on the not so fun stuff.
The accounting, the invoicing, the late nights,
the admin, all these things that essentially makes
your business run,
but it's something we have to do
and we'll persevere if we have a very strong 'why'
and those nights you're like
I'm about to throw in the towel, I'm about to give up,
remember, what got you started,
why did you start this business,
'cause that's gonna push you through
to grow it and just follow your passion.
And you're not going to want to do all these
not so fun things all the time,
but you have to.
- Or else, you'll fall short.
- Hey, was that a short joke?
- Have you been here the whole time?
- So, the next scary truth is
you're probably going to want to give up at times.
But just channel your inner Smurf
because Smurfs never give up.
When the going gets tough,
the tough get Smurfing.
But, don't throw in the towel,
just focus on the end game.
There's a lot to look forward to
and all your accomplishments that are soon to come.
- Yeah, and it's going to feel like you're just wanting
to work til 2 a.m. in the morning
trying to get all this stuff done,
but it's like cooking a hot dog.
You gotta only cook it so long
before it's that perfect temperature, right?
It's the same thing with your business.
Only work until that perfect temperature.
Don't overexert yourself, otherwise,
you're going to get nothing done
and you're going to be a burnt dog.
- Special delivery.
- Hey.
- My favorite.
(laughing)
- All right, so here's the other scary truth.
Sometimes, you might actually hate your boss.
I know, hard to believe, right?
But, I think my boss is pretty awesome.
I mean, she lets me work in pizza costumes.
Sometimes my pajamas.
Hey, if I didn't get enough sleep the night before,
she's cool about letting me take a little nap.
- If you're feeling a little blue.
- Exactly, I get to take some time for myself.
Throw in a mid-day, yoga class, you call it.
Also, she lets me blast my music
when I want to get in that creative zone, in fact,
you know what a pizza maker's favorite song is?
- What is it?
- What's that?
- Slice, slice, baby!
(laughing)
But, you know, sometimes, my boss,
she screws up.
And it's pretty frustrating.
It causes more work for everybody, including me.
Sometimes, I wanna ring her neck.
But at the end of the day, every day,
I know she's trying her best.
- Wait a sec, Emma.
Aren't you your own boss?
- That is correct.
So, I gotta deal with all of it.
The good, the bad, the ugly,
but it's worth it at the end of the day.
I get to be the boss.
That's a wrap.
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This is The Journey.
We'll see you next time.