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Entrepreneur's Corner

20 Sobering Facts Every Entrepreneur Needs To Hear Before They Die In Silence

BY Soko Directory Team · November 14, 2024 04:11 pm

KEY POINTS

Success, as you’ll soon realize, demands sacrifice. There’s no getting around it. You cannot have it all, at least not at the same time. You must give up something to gain something else. This is the trade-off of entrepreneurship. Whether it's time, personal life, or comfort, you will need to give something up to achieve your dreams. It's a truth not often discussed in glossy startup brochures, but it's essential. 

KEY TAKEAWAYS

Self-criticism is another silent killer of the entrepreneurial spirit. The harshest judgment often comes from within. You are your own worst critic. The voice in your head telling you that you're not good enough, that you're not smart enough, or that you're too late to the game—is the loudest. 

It is said that an entrepreneur is like a lion, venturing into the wilderness without a roadmap. Yet, this lion faces a harsh reality: no one is coming to rescue it from the dangers that lie ahead. The world doesn’t wait for anyone, and the sooner you accept that the quicker you’ll stop pretending that someone else, a mentor or miracle, will carry you across the finish line. Fact number one, you are 100% responsible for your problems. Yes, not your parents, not your government, not your boss, but you. The brutal truth is that your success, failure, and every obstacle you face, are a direct result of the decisions you make. You alone hold the key to the chains that bind you, for better or for worse.

For the entrepreneur who’s thinking of passing the blame or pinning their lack of progress on external factors, here’s a wake-up call: blaming others means you’re giving them control over your life. This is an epidemic, particularly in the Kenyan business scene, where fingers are pointed at government policies, inflation, and even “bad luck.” But, if every person who blames external factors took full responsibility, they would realize that excuses don’t produce results—only action does. When you focus on blaming, you are essentially surrendering the most potent weapon you have—your agency. The right question to ask is: “What can I do differently?”

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Now, about trying and failing—this is where most entrepreneurs falter. The most dangerous mistake you can make as an entrepreneur is not trying because you fear failure. There’s a saying in the business world, “The greatest failure is the failure to try.” In a survey by the Kenya National Bureau of Statistics, over 60% of small businesses fail within the first year of operation, but the real tragedy is not in those failures—it’s in the businesses that never start at all. If fear of failure is stopping you from leaping, then you are letting an imaginary hurdle dictate your future. As an entrepreneur, your job is to fail fast and fail forward. The faster you fail, the quicker you learn, and the sooner you get to real success.

However, money is where the conversation gets a little trickier. The fourth sobering fact—money can buy comfort but not contentment—strikes home for many entrepreneurs who hustle to amass wealth but forget to nurture the spirit. Comfort is fleeting; it buys you a sleek office, a shiny car, and a lavish lifestyle—but when you lie awake at night questioning your purpose, all the money in the world will feel like sand slipping through your fingers. The sobering reality is that true happiness comes from within, not from external acquisitions. This is often seen in the endless race to acquire wealth and status, which ultimately leaves entrepreneurs feeling empty when they realize their soul was never fed.

The irony of materialism is that once you’ve gained those trinkets, they lose their shine faster than you can blink. You buy the newest phone, only to realize it’s outdated in six months. You upgrade to a larger house, but suddenly it feels too big, too empty. Material things always lose their charm after a while. Yet, many entrepreneurs are caught in this cycle of accumulation, never pausing to ask if their pursuits are aligned with their true calling. A man is often found not by what he owns, but by how he lives and the values he upholds.

Of course, in the entrepreneurial grind, you’re bound to face critics, and here’s where it gets personal: if everyone likes you, no one loves you. In the Kenyan entrepreneurial ecosystem, there’s a tendency to want approval from everyone—friends, family, investors, and even competitors. But true love and support come from those who can see your potential, not just your current form. This is crucial advice for those who are eager to please—because when you try to please everyone, you end up pleasing no one, least of all yourself. Instead of seeking approval, seek truth and authenticity, for those who love you will not only accept your flaws but help you grow beyond them.

As you navigate this journey, it’s easy to believe that people spend as much time thinking about you as you do about yourself. Unfortunately, no one thinks about you as much as you think about yourself. We are all so consumed with our battles and ambitions that others rarely give us the attention we crave. Understanding this is liberating. It means you can focus on doing the work that matters, without the unnecessary weight of worrying about how you are perceived.

Read Also: Dear Entrepreneur, Here Is Why Buying Locally Available Cars in Kenya Makes Financial Sense

But let’s be real: not everything in life is peachy. Life isn’t fair, and bad things happen to good people, including you, the ambitious entrepreneur. Bad things don’t only happen to those who “deserve” it. Sometimes, life throws a curveball, and all you can do is swing. The successful entrepreneurs are not those who’ve avoided failure—they’re the ones who’ve stood up, dusted themselves off, and tried again. Think of it like planting a tree in the desert: it’s not going to bloom easily, but persistence will eventually bear fruit.

Success, as you’ll soon realize, demands sacrifice. There’s no getting around it. You cannot have it all, at least not at the same time. You must give up something to gain something else. This is the trade-off of entrepreneurship. Whether it’s time, personal life, or comfort, you will need to give something up to achieve your dreams. It’s a truth not often discussed in glossy startup brochures, but it’s essential. Every success story has an undercurrent of sacrifice—a series of late nights, financial setbacks, and emotional tolls.

Now, let’s talk about trust. The path to trust is fragile. The more you try to please everyone, the quicker you’ll lose trust. Entrepreneurs often learn this lesson the hard way. It’s easy to say yes to every opportunity or client that comes your way, but in doing so, you compromise your values and your reliability. Trust is built on consistency and integrity, not on the number of people you try to impress. If you spend your time trying to please others, you’ll miss the core of your business—your authenticity.

Self-criticism is another silent killer of the entrepreneurial spirit. The harshest judgment often comes from within. You are your own worst critic. The voice in your head telling you that you’re not good enough, that you’re not smart enough, or that you’re too late to the game—is the loudest. The truth is, that voice has no authority unless you give it power. Don’t let internal criticism keep you from pursuing your goals. Focus on progress, not perfection.

You’ve heard the saying, “Talent without effort is wasted.” It’s one of the most painful truths about entrepreneurship. Talent alone won’t get you far. Effort, resilience, and consistency are the traits that will carry you through the rough patches. Hard work beats talent when talent doesn’t work hard. This is the essence of entrepreneurial success. The most successful businesspeople aren’t necessarily the most talented; they are the ones who are willing to put in the hours, learn from failure, and persist when others have long given up.

As you build your business, don’t forget this: relationships require compatibility. Love alone is not enough. Whether it’s your business partners, employees, or clients, compatibility matters. A successful venture is built on mutual respect and alignment of goals, not just passion. Entrepreneurs who fail to foster healthy, compatible relationships often find themselves battling alone when challenges arise. It’s essential to surround yourself with individuals who share your vision and values.

Read Also: Dear Entrepreneur, Here Is The TRUE COST Of Success

Your habits are shaping your future. You are a product of your smallest habits—good or bad. Over time, your daily actions compound to define who you are. If you waste your mornings scrolling through social media or procrastinating, don’t be surprised when your business stagnates. On the flip side, if you commit to consistent action, small as it may seem, over time, those habits will lead to massive growth.

Expecting everyone to support you is a dangerous fallacy. Not everyone will support you—and that’s okay. They don’t have to. Ask, but don’t expect. Entrepreneurs often get disillusioned when their friends or family don’t provide the encouragement they expect. The reality is that not everyone is going to understand or believe in your vision. Don’t let their lack of support deter you from pursuing your dreams.

No one is entitled to anything. You must earn what you want. The idea of entitlement is a dangerous one, especially for entrepreneurs who believe that their hard work should automatically translate into success. But entitlement breeds complacency. Success is earned through effort, sacrifice, and sometimes, pure grit. If you’re waiting for someone to hand you success, you might as well wait for the rain to fall in a desert.

Finally, your life doesn’t get better by chance; it gets better by change. But here’s the best part: it’s never too late to change. Entrepreneurs often get stuck in a rut, thinking that because they’re “too old” or “too far gone,” they can’t make a fresh start. The truth is, that change is always within your reach. It’s never too late to pivot, to learn, to evolve. As the ancient proverb goes, “The best time to plant a tree was 20 years ago. The second best time is now.”

In essence, the entrepreneurial path is not for the faint of heart. It’s filled with obstacles, failures, and sacrifices. But it’s also filled with opportunities for growth, success, and transformation. Embrace the sobering truths, take action, and realize that the only person who can create the future you desire is you. No one else is coming to save you.

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Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system. Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

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