Entrepreneurship might seem like a feasible career option as one gets to enjoy the perks for being the boss as well as enjoy profits generated out of the venture. However, this career also has its share of drawbacks which you need to take into consideration before planning to become an entrepreneur.
Here are a few drawbacks of entrepreneurship as a career option:
1. Uncertain income
The biggest drawback about being an entrepreneur is that you do not have a flow of regular income. Your income as an entrepreneur depends on the sales and output of that month. Thus, your income could be positive, negative or zero depending upon the profits/ losses made that month. However, irrespective of the profits made in a certain month, you need to pay your employees regularly.
This irregularity of income is a major drawback for entrepreneurs.
2. High levels of stress
When you have to manage everything about a company right from paying freelancers to the projects handled, the stress levels are bound to be sky-rocketing. An entrepreneur has to work doubly-hard as compared to the employees because he stands a chance of losing the entire investment. In small start-ups, the entrepreneur, apart from the owner also takes up the responsibilities of a manager and assumes other roles due to lack of finances. This adds more pressure on the entrepreneur and causes an extreme amount of strain on his work schedule and life.
3. Disrupted work-life balance
Because the pressure due to work is so high, a lot of entrepreneurs are prone to major disruptions in their personal life. The high levels of stress keep them from spending quality time with their family and prolonged stress leads to fights and detachments in personal life.
However, some entrepreneurs believe that it is all about balance and if one is able to balance the two roles in their life properly, they can actually excel in both.