The Pros and Cons of Entrepreneurship – Entrepreneur's Complex

The Pros and Cons of Entrepreneurship

My first step into entrepreneurship started at the end of 2017 when I got my real estate license in New York City, and shortly thereafter, quit my 9-5 job that was just starting to pay me a comfortable six-figure paycheck and decided to run my own book of business in the real estate sector. That might sound crazy to a lot of folks out there, but to me, I knew that it was only a matter of time before I started this entrepreneurship journey (which I'll explain more of the reasons why later on), and if I didn't take the risk and start then, who knows if or when I'll have ever started so it was now or never. 

So while I was practicing real estate in New York City, I started to realize that many businesses were transitioning into digital (e.g. creating a website and starting to focus their sales online rather than paying monthly rent for a storefront business, especially on the retail side), and saw for myself first-hand, countless numbers of retail stores going out of business due to companies like Amazon making people shop online more with the convenience of 2-day free shipping. So, I took it upon myself to research more into starting my own business online which ultimately led me into creating my own online businesses (which I'll explain more in-detail in my future blog posts as well) centered around my interests and passions - with the main goal to monetize through partnering with various affiliate and ad-networks as well as through e-commerce transactions. Also, as I've been working in the Ad-Tech and Media space here in New York City, I was able to work with numerous agencies and brands across multiple verticals, and by doing this, I was able to network with various business owners and executives in the digital media and advertisement space which opened my eyes to the whole media, advertisement and digital marketing business as a whole. 

So eventually my schedule consisted of practicing real estate during the day and building my online business at night to the point of automation in order to achieve multiple streams of income. This journey into "entrepreneurship" has been one hell of a ride with many ups and downs, but overall, it's been the most eye-opening experience with so much personal and professional growth while being able to meet people from all walks of life - I wouldn't have done it any other way.

For those of you looking to start your own business, here are some essential tips that you must be ready for beforehand from my personal experience so far:

1. Be prepared to work long hours all day everyday.

If you work a 9-5 job, you'll just have to put in some extra hours after work to turn your dreams into a reality. If you have friends or family wanting to hang out often, you'll have to learn how to balance and/or sacrifice some of that time too since time is something we don't have enough of - this is harder said than done.

2. Be in it for the long haul because nothing comes overnight.

I started my journey back in late 2017, and during my first full year, I generated very little income as I was more focused on creating the business from the ground up, tweaking and adjusting things along the way, running some A/B tests to see what marketing strategies generated the most clicks/conversions online and more. Just keep going, because with consistency, common sense and a pinch of good luck, there’s no way your goals can’t be achieved. 

3. Identify your "Why"

You need to get real with yourself and ask why you are doing what you're doing. Once you understand your why, you'll have purpose and meaning behind the work that you do which is a crucial element for success and longevity. Also, you need to be passionate about it or it's eventually going to feel like a job in the long run. And when times get tough, and trust me it will, your WHY is going to make or break you which is why you need to be passionate in whatever business or venture you start.

4. Be OK with not making any money in the 1st month, 1st year or longer.

Remember, you're in it for the long haul, and if you're passionate about what you're doing, it'll be fun for you rather than it feel like a job which will help you stay consistent, overcome obstacles and remain focused on your overall goals.

5. Must have thick skin!

This entrepreneurship journey will be one of the most humbling yet rewarding experiences that you'll have to go through. When times get tough and the entrepreneurship journey knocks you down, it's that very moment when you realize who you really are and what you're really made of. So when you get knocked down, being able to get back up quickly and be able to learn from your mistakes will become a key element to your future success.

6. Not everyone will understand your vision as an entrepreneur as well as the lifestyle that comes with it.

It's important to surround yourself with like-minded individuals who have the same ambitions, who can relate to your overall goals and inspires you to be better. If not, they will slow you down and hinder you from growing to your true potential. And if needed, it's never too late to form new relationships, friends and networks especially if your current relationships are dragging you down and/or not motivating you to do better and be better. Obviously, I’m not advising that you abandon your relationships but just use your best judgement here (this is where your common sense comes to play lol). I'll end this with the following quote, "If you're the smartest person in your group, you need to find a new group."

7. Set monthly, quarterly and annual quotas to keep track of your progress and so you can stay focused on your goals!

If you don't set any specific goals to reach within a specific time-frame, it can be easy to get lost and work aimlessly without knowing how much progress you made. For this reason, it's important to set specific goals or quotas on a monthly, quarterly and annual basis to keep track of your progress on a regular basis as well as help you stay focused on whatever you have to do to get to the finish line.

These are just a few of many important things that I've realized as I've started my journey into this things called entrepreneurship. But after all is said and done, going through sacrifices now to live a prosperous future is well worth it in the long run. Good luck and cheers to all the success with your future endeavors.

Last but not least, don’t forget to check out the store items and get you something nice!!!

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