I just read the article “The 11 Harsh Realities of Being an Entrepreneur.” Some points in the downright depressing blog I agree with. Some I don’t. And, at other times, the “harsh realities” of being a small business owner has more to do with perspective.

Here are my Facts About Being an Entrepreneur…

1   It never turns out like you think it will.

2   Everything takes a least twice as long to complete.

3   You can’t do it all yourself. You need a team, even if you are a home-based business owner.

4   There is no such thing as an overnight success.

5   You will make many mistakes.

6   Change happens constantly.

7   By the time it is perfected, it’s out dated.

Some people aren’t cut out to be a small business owner; others won’t know deep satisfaction, regardless of what is deemed success unless they are. Know yourself and you’ll have a better handle on whether the entrepreneurial career is the right one for you.

If you need help with your small business, contact Vickie Champion for a discovery coaching and consulting session.

I coach many solopreneurs. You know, those entrepreneurs or solo business owners that prefer to go it alone. The path can be both difficult and rewarding and I’ve noticed that successful solopreneurs often share the same tendencies.

Here are some of the Traits of a Successful Solopreneur…

They …

1  Have no problem working an 8-hour day 5 days a week.

2  Are not afraid to make mistakes.

3  Don’t let personal matters distract them during work hours.

4  Set work priorities and follow them.

5  Enjoy working alone and when they get a case of isolation disease they take steps to cure it quickly.

7  Love problem solving.

8  Often use their intuition when making decisions instead of asking others.

If you recognized yourself in these traits, you have the self-motivated personality of the successful solopreneurs I know. If some of these traits elude you, you may only need to develop them.

You can also contact Vickie Champion for a discovery coaching and consulting session.

You won’t find this in “How to Start a Business” books or any classes. And yet, I have found this one thing can cause more harm to a home-based entrepreneur’s success than anything else. The majority of my solopreneur coaching clients suffer from it and some battle it on a daily bases. I have run a home-based business for 16 years now and still encounter episodes. What is it? Isolation Disease.

Here are the Symptoms of Isolation Disease…

• Can’t get motivated.
• Start adopting the “What’s the use” attitude.
• Believe you are the only one suffering from this disease.
• Unable to get excited or even work on projects.
• Worry way too much about the future.
• Feel the business’ success depends entirely on you.
• Work hard or hardly at all, but get very little accomplished.
• Experience paralyzing overwhelm.
• Lose your creativity.
• Visualize nightmarish stories about your problem situations.
• Start gaining weight or becoming ill.
• Often have a time management problem.
• Loss of energy.
• Start doubting yourself and your abilities.

Here are the Risk Factors…

• Having a home-based business.
• Having infrequent human interaction.
• Living alone or having a roommate/spouse that is often absent.
• Getting very little exercise.
• Watching TV, working, reading, eating or surfing the Web in your spare time.
• Ignore the concept of building a team.
• Usually don’t attend workshops, networking events, or meet with potential clients.

Possible Cures of Isolation Disease…

• Get out of the house.
• Spend some time working at a coffee house, library or a park.
• Find other solopreneurs to bounce ideas off of.
• Interact with people other than on Facebook and Twitter.
• Take a walk or exercise.
• Hire a life or business coach or a consultant.
• Attend workshops, not webinars.
• Hire a bookkeeper, housekeeper, virtual assistant, copywriter, or marketing specialist.
• Go out to lunch.
• Take frequent weekend trips or vacations.

Like any business problem, the difficulty comes in diagnosing it. Once you realize all you have is a case of Isolation Disease, you can take steps toward the cure. From there, recovery is easy!

You can also contact Vickie Champion for a discovery coaching and consulting session.

In the all the years I was a small business coach, I noticed some disadvantages that women business owners faced far more often than men. It must be the way we were raised and a belief system we bought into. Or maybe we don’t feel we are as worthy of success. I think these are among the primary reasons we aren’t as successful as a whole in business as men.

Here’s Some of the Disadvantages Being a Woman Entrepreneur-

We have a tendency to…

• Think multi-tasking is normal and pride ourselves at being good at it.
• Have an “I’ll do-it-myself attitude.”
• Not even consider hiring a team of helpers like housekeepers, personal assistants, accountants, virtual assistants and business coaches until it’s absolutely necessary.
• Have a problem receiving. So we either charge less than our male competitors or forget to put ourselves on the payroll.
• Focus almost completely on the day-to-day tasks and are reluctant to set goals or make business plans.
• Want our work to be perfect more than we want it to be profitable.
• Not really know what our business dreams are.
• Believe the act of self-care to recharge ourselves is selfish.
• Delay success by focusing more on “why” we are not doing something rather than pushing through the fear and just doing it.

All we have to do to overcome these disadvantages is change our mindset.

Are you ready to change your mind?

This self-study program helps you change the mindset you have about yourself and the world around you. You will be able to finally feel worthy and deserving. For more details.

Also check out the Quiz, How Worthy Do You Feel?

Before you charge ahead and start your business, consider the stumbling blocks first. Your business success depends on how well you adjust and resolve these disadvantages.

Here are Some of the Many Disadvantages of Being Small Business Owner…

• You can’t blame the boss.
• Things constantly change, especially with this economy.
• You’ll have to learn to like marketing and sales, whether you supervise or do it yourself.
• To be successful, you must make and follow a budget.
• You have to make lots of decisions quickly all of the time.
• More than likely you will battle isolation disease.
• You have to be a self motivator.
• There is a tendency to have a do-it-yourself attitude which causes extremely late hours and several problems in the long run.
• It’s very easy to get caught up in the day-to-day tasks and forget about making goals.
• Most entrepreneurs delay paying themselves which is one reason they are not as successful.
• You can work flexible hours, sometimes taking too much time off without realizing it.
• No one keeps you focused and helps you avoid pitfalls, except if you’re smart and hire a business coach.
• You forget about listening to your intuition or gut instincts.

I can’t stress this enough: Almost every small business owner I know has needed help mastering these disadvantages. Join associations, attend workshops, take classes, read books and hire a business coach.

If you need help, contact Vickie Champion for a complimentary coaching and consulting session.

I just heard recently that the Arizona Small Business Association (located in Phoenix and Tucson) added 700 members in a little over six months. Wow!  Either ASBA has a really effective marketing plan, or there are lots of people sick of job insecurity. Maybe people are lost and just don’t know what else to do but start their own business. Or what I like to believe, lots of people are finally going for their dream jobs.

Here are Some of the Many Advantages of Being an Entrepreneur:

• No one can fire or lay you off.
• There is a variety in your daily work tasks.
• You can work flexible hours, taking time off to be with your kids, go to the doctor or take a Yoga class.
• Running your own business gives you the final say in every decision to be made.
• You are in charge of setting your own deadlines. And enforcing them.
• Being an entrepreneur gives you the power to give yourself raises as often as you want for no reason.
• You can easily take advantage of going with your intuition or gut instincts.
• You hardly ever get bored, because there is little or no time to sit back and take it easy.
• You can get over your fears quickly by facing them head on.
• You don’t have to loose sleep over an upcoming performance review.
• Being a business owner forces you to finally learn how to make and follow a budget.
• And the best advantage of all, no one tells you what to do.

Do you know of other advantages of being an entrepreneur?

If you need help, contact Vickie Champion for a complimentary coaching and consulting session.