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Entrepreneurs have become American heroes. They represent the correct development direction of this country. European and Asian countries are increasingly seeking to imitate the entrepreneurial model of American entrepreneurs. There is no doubt that you want to join them. Here are some risks you need to consider before starting your own business. Your family will appreciate your thinking.
- 1. Most businesses fail. You must have heard that before. This certainly means that your business – yes, your business – is likely to fail. You are more likely to invest money in your life instead of making money.
- 2. Entrepreneurship is all about consumption. Most entrepreneurs find that their career has become the focus of their attention, thus eating away all their time and energy. Even when entrepreneurs are with their families, their brains are busy thinking about business problems.
- 3. Friends lie. If you ask your friends, “What do you think of this business idea?” You usually get answers from two types of friends. A group of friends will tell you that this idea sounds great. Never mind what they think, because they are saying what you want to hear. Another group of friends will tell you that your idea will never succeed, and even though they have no basis for judgment, they will also tell you why your idea will not succeed.
- 4. The initial customer will lie. For most businesses, the initial customers you find represent a group of people who are seeking the service you provide. They may be willing to pay a higher price for your service than the average customer base and seem to have much less requirements for marketing promotion. In fact, there may not be enough customers willing to pay the price you need to make money.
- 5. Entrepreneurs can see opportunities everywhere. An entrepreneur drove across the desert. He passed an abandoned gas station and thought, “I can make that place prosperous.” Most of the time they are wrong.
- 6. When business is successful, entrepreneurs are not necessarily successful. Steve Jobs was swept out by John Scully, the new CEO of Apple. This story is very famous, and this phenomenon is very common. Unusually, he can earn more than 100 million dollars before being kicked out of the company. What is more striking is that he was recalled when Apple’s business was at a low point. Many entrepreneurs have been away for a long time when the enterprise finally achieved success, and could not get a piece of the pie.
- 7. Entrepreneurs have a higher divorce rate. Although there seems to be no reasonable data to prove this, there is a lot of evidence that entrepreneurs have a higher divorce rate than others. This may be the result of the financial pressure of entrepreneurship, although this problem seems to be common among successful entrepreneurs.
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Entrepreneurs become heroes for a reason. In the case of limited opportunities, they fully devoted themselves to their work with the enthusiasm that most of us cannot continue to have, creating jobs and opportunities for countless people. When entrepreneurs achieve great success, they may bring more benefits to the society than the founders. However, their families often pay the price for entrepreneurship. Before you start a business, please involve your spouse and other family members in the discussion about your career risks and investment. Make sure you get their full support before you continue your career.