Entrepreneurship Require Realism and Patience, No Matter What
Many Americans see entrepreneurs as the saviors of our day–the engines of economic growth and innovation in our communities, workplaces, and daily lives. In reality, they are a major driving force behind the economy, and even better yet, the innovation that takes us to tomorrow. You see it everyday: people love reading stories about self-made founders, college dropouts who began their ventures out of garages, and rags-to-riches success stories. These are the more exciting sides of entrepreneurship, and more often than not, the story we’re reading was not one of exponential success. In fact, starting a new business is daunting and the journey to professional success is nothing short of trying. The good news? It’s worth every minute if you’re passionate about what you’re doing. A sense of realism and patience goes a long way.
Entrepreneurship is not for the faint of heart. Only about half of all projects survive their 5th birthdays. Assuming they do stay in business, entrepreneurs often lack health insurance, according to the Treasury Department. They are at risk of poverty in retirement, with only 8% contributing to a retirement plan in a single year. This foretells a dire future for many Americans, considering that only one in five workers aged 50 and older, including their spouses, have saved less than $1,000 for retirement. That number gets lower the younger you are. Those who have higher levels of assets, spouses who have steady jobs, or families with a modicum of wealth are in a better place to start a business. If their ventures fail, they have something to fall back on. But what about the majority of Americans without ample emergency or retirement savings and who need access to employer-sponsored health insurance to reduce its cost?
Most entrepreneurs enter and persist in business despite the fact that they have both lower initial earnings and lower earnings growth than in paid employment, implying a median earnings differential of 35 percent for individuals in business for 10 years. A study in the Journal of Political Economy found those who find themselves self-employed are often less concerned with the immediate payday, and more concerned with creating something. A business or project that can grow with them, all the while striving to one day make a living and see their hard work expand in front of them.
There’s risk to this business, and you know that as a small business entrepreneur. With so much in front of you to face, it’s crucial to turn to seasoned experts in the process, and that’s where we come in. SA Capital Partners is a collective just as passionate as you about entrepreneurship and small business values, and unlike a big bank, our team looks to make real connections for real success. Financial and corporate advising is something that succeeds most proactively. Rather than waiting for the ball to drop, taking a step forward in your professional aspirations by working with those who have been through the process countless times can save you time, money, and anxiety down the road.
You have to be patient to be an entrepreneur, and better yet, you have to know everything ahead of you, even the unpredictable. That’s why SA Capital Partners works with you to to identify present and potential issues, as well as secure your spot in the market.
About SA Capital Partners:
SA Capital Partners is an innovative financial services firm that specializes in mergers & acquisitions advisory and capital raising for lower middle market businesses. We aspire to give all the tools necessary to complete any transaction. SA Capital Partner’s financial services industry specialists provide comprehensive, integrated solutions to banking transactions. Our breadth of services and industry knowledge allow us to understand each client’s unique business needs. Our goal is to make all financial services available to every small business.