The Sweaty Startup

359: The hardest part about entrepreneurship

Oct 18, 2023

The podcast explores the challenges of entrepreneurship and the need for patience and hard work. It emphasizes delayed gratification and the importance of adding value in business. The value of delayed gratification is also discussed along with investment opportunities and starting a small service business.

10:10

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Quick takeaways

Entrepreneurship requires a willingness to delay gratification and commit to the long-term vision, as the rewards often come after 3-10 years of hard work.

Entrepreneurs understand that the value they create may not always be reflected in their current financial situation, but they can see beyond immediate monetary gains and recognize the intrinsic value they are creating through their efforts.

Deep dives

Delayed Gratification in Entrepreneurship

Entrepreneurship requires a willingness to wait for rewards, which is a challenge for many people accustomed to instant gratification. Unlike traditional jobs where one receives a paycheck every two weeks, starting a business entails a minimum of three years of hard work and stress before reaping the rewards. The decision to embark on this journey often hinges on the individual's ability to delay gratification and commit to the long-term vision. It is important to recognize that building a successful business entails investing time, effort, and resources without immediate financial returns, but the eventual benefits can far outweigh the initial costs.

Introduction

2min

The Challenges of Entrepreneurship and Delayed Gratification

2min

Delayed Gratification and Adding Value in Entrepreneurship

4min

The Value of Delayed Gratification in Entrepreneurship

2min

Everybody wants the reward, but not everybody wants the process. That's what makes entrepreneurship difficult and challenging. You'll be working for countless hours and only see the results after 3, 5, to 10 years. It's hard and difficult but that's where real entrepreneurs thrive. Listen to the full episode as I share about the hardest part about entrepreneurship.

Thanks for listening!

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