The Realities of Entrepreneurship An experienced entrepreneur opens up about the real challenges, sacrifices, and key traits needed to make it

Entrepreneurship is often idealised as a route to freedom and success, yet the reality is shaped by resilience, adaptability, and significant personal sacrifice. Lee Broders, a serial entrepreneur and co-founder of Business Growth Global, offers an insight into what it truly takes to thrive in the unpredictable world of business.

Asked what the most surprising aspect of being an entrepreneur is, Broders dismissed the notion that success is all about a groundbreaking idea. "I would say how much of your success hinges on your resilience and adaptability rather than a perfect plan," he explained. "Many people assume that entrepreneurship is about having a groundbreaking idea, but it's really about adjusting, learning, and staying the course when things don't go as planned, which they usually don't!" This insight underscores a central truth that often goes unspoken in the glamorous portrayal of entrepreneurial success: the road to building a business is rarely straight, and the ability to pivot and adapt is far more important than any initial idea.

The personal sacrifices of starting a business

For Broders, the path to building a successful business has been fraught with personal sacrifices. "There were months when I was working 60 hours plus, and I was reinvesting every penny back into the business and putting personal aspirations on hold to ensure the business had the resources to thrive," he said. This commitment to his business meant putting aside personal goals and relationships to ensure that the business could survive its early stages. "It's a hard reality that many don't see," he added. This kind of dedication is common among entrepreneurs, who often find themselves burning the midnight oil to make their ventures successful.

When asked about the qualities that define a successful entrepreneur, Broders pointed to resilience, adaptability, and vision. "You need to be resilient to weather the setbacks you encounter, having the adaptability to pivot when needed and a clear vision that will keep you aligned with your goals, even when it feels everything is going against you," he explained. "I also believe that leadership and emotional intelligence are essential for building a strong team and fostering collaboration," he added. Broders believes that leadership is not just about making decisions, but about inspiring and guiding a team through difficult times.

Dealing with uncertainty and risk

Entrepreneurship is inherently uncertain, and Broders has learned to navigate this risk with a strategic mindset. "I focus on controlling what I can, but also preparing for what I can't," he said. His approach involves planning for uncertainty and relying on a strong support network to help mitigate risks. "It's important to understand that strategic planning, a solid support network, and a willingness to take calculated risks allow me to help manage uncertainty," he said. He also emphasized the importance of staying grounded and celebrating small victories. "It's important to stay grounded by celebrating small wins and remembering why you started in the first place," Broders noted. These moments of reflection help entrepreneurs maintain perspective amidst the challenges.

Perhaps one of the most common misconceptions about entrepreneurship is the glamorous image portrayed on social media, which often leads to unrealistic expectations. "People believe that starting and building a business is easy and glamorous, because they see all the social media hype about it," Broders observed. "Well, I can tell you that it isn't, in fact, it can be intense and often at times a lonely grind that demands persistence and sacrifice." This is a sentiment that many entrepreneurs share, as the reality of business-building is often far from the shiny success stories presented in the media. "People often see the success, but overlook the countless sleepless nights, tough decisions, and personal setbacks that paved the way to it," he added, shedding light on the unseen challenges that entrepreneurs face behind closed doors.

The slow burn of success

Contrary to popular belief, success in entrepreneurship is rarely instantaneous. "Many people think entrepreneurs have it all figured out and achieve success quickly, but the reality is quite different," Broders said. "Much of the journey involves figuring things out as you go, navigating uncertainty and enduring a slow burn of effort and persistence." For Broders, the key to lasting success lies in persistence and adaptation. "True success often takes years of learning, setbacks, and adaptation before significant results appear," he remarked. His experience is a reminder that entrepreneurship is not a sprint but a marathon, requiring years of hard work, learning from mistakes, and refining strategies over time.

Lee Broders' insights offer a rare look into the complexities of entrepreneurship. His reflections on resilience, sacrifice, and the slow, often painful road to success are a stark contrast to the version of business success we often see in the media. As Broders himself put it, the journey is about "adjusting, learning, and staying the course when things don't go as planned," a sentiment that any entrepreneur can relate to. For those looking to follow in his footsteps, Broders' story is a powerful reminder that success is not about having a perfect plan, but about having the perseverance and adaptability to navigate the inevitable challenges along the way.