Be wary of entrepreneurship downsides

Thu May 27, 2010 11:02am EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

(Reuters Life!) - The Management Tip of the Day offers quick, practical management tips and ideas from Harvard Business Review and HBR.org (www.hbr.org). Any opinions expressed are not endorsed by Reuters.

"There are many rewarding things about being an entrepreneur: the autonomy, the recognition, the creativity, not to mention the fact that you are pursuing your dreams. But starting a business is never easy and not everyone is cracked up to be their own boss. Before you embark on a solo venture, remember that there are downsides too. Being an entrepreneur requires high risk, hard work, and many, many tradeoffs. The glamour of the got-rich-quick entrepreneur is often a far cry from what it's really like in the trenches. Take a hard look at your life and be sure you know what you are risking before you set up your own business."

- Today's Management Tip was adapted from "20 (More) Reality-Checking Questions for Would-Be Entrepreneurs" by Seth Kravitz.

 
<p>A trader works on the floor of the New York Stock Exchange, May 20, 2010. REUTERS/Brendan McDermid</p>