Creating a business is a great adventure: becoming your own boss, being able to choose who to work with, creating value for yourself …
However, future entrepreneurs must also be aware that the daily life of the entrepreneur is not easy to manage.
Modern Woman HQ therefore educates you, without wanting to discourage you, on 5 important points to take into account before setting up your business and become your own boss.
Few of the entrepreneurs manage to work regular hours and limit their week to 40 hours.
Starting a business takes a lot of time, especially the beginning. The future entrepreneur must therefore be aware that they are embarking on an adventure that will require them a lot of time, sometimes to the detriment of family life and/or leisure.
Maybe a boss, but also responsible!
Many of you think about it and it is an undeniable advantage: the entrepreneur is no longer accountable to his superiors (to be moderated for projects involving other partners or shareholders).
On the other hand, the entrepreneur has in return a greater and more extensive responsibility than an employee.
As a business manager, you can be held liable civilly and criminally in the event of error or fault.
Difficult to separate private/professional life
Starting your own business is a project that takes an important place in the life of an entrepreneur: it is difficult to think of anything else and to leave “your baby” aside on weekends.
It is therefore necessary to set rules to manage to reconcile the project with a more or less normal private life, such as for example:
- Not working at least one day a week (perhaps surprising for some but very difficult for many entrepreneurs),
- Not to work from home and not to take a computer from home,
- Set a deadline in the evening.
As an entrepreneur,you may not realize how much time you devote to your business, but your family and those close to you see it and suffer it.
A source of additional stress
Becoming an entrepreneur means taking risks and giving up the reassuring side of a permanent job position. The creation of a business generates additional causes of stress:
- This requires a sometimes significant financial investment,
- The salary no longer falls automatically at the end of the month: the company must generate cash in order to be able to get paid,
- If the business does not operate and files for bankruptcy, the entrepreneur cannot benefit from unemployment while she finds another job,
- Setting up a business implies taking responsibility in a more or less substantial way depending on the form of the business: you can “simply” lose your contribution or, on the contrary, be sued for your personal property in the most serious cases.
Starting a business can therefore be exhausting or even dangerous for people who have trouble coping with stress.
Much more workload
Beyond the work accomplished within the framework of the pure professional activity, the entrepreneur must also manage all the administrative parts of the company (something which is practically not taken care of when one is an employee of a company. ).
As an entrepreneur you therefore need to find time for:
- Paying suppliers,
- Carrying out, send and monitor the payment of sales invoices,
- Managing relations with the company’s partners (insurer, banker, accountant, etc.),
- Taking care of all or part of the accounting,
- Complying with information obligations, in particular with other partners or shareholders.
Of course, some entrepreneurs have the option of hiring staff to delegate all or part of the administrative management of the business.
However, this is rarely the case at the initial stage of starting a business. In addition to the daily work, you have to take care of the management of the business.
After reading this article, do not be discouraged!
My goal here is to make you aware of what you can expect when setting up your business, and therefore to allow you to anticipate and organize yourself so that these 5 points do not constitute inconveniences once the project is underway.