There’s nothing quite like building a business from the ground up with your own two hands and seeing it succeed. But while that feeling you get when it all clicks is everything, the problem is you don’t get there in a day.

Anybody with access to a few random business statistics can tell you entrepreneurship is hard. But to get at the meat of why this is the case, you need more than random statistics. You need some insider information.

I started this blog to help entrepreneurs like myself get a real perspective of the struggle to succeed and what it feels like. And having been on the grind day-in-day-out for more than seven years, I’ve had more than my share of terrible lows and exhilarating highs.

Today, in your dose of the cold startup truth, I will share nine things that only a founder can communicate because he or she has felt it.

First, you must understand that

#1: The odds are not in your favour

In case you didn’t get this before, it bears repeating: Entrepreneurship is hard. Stats from the Small Business Administration, the Bureau of Labor Statistics and Failify are emphatic. Only 70% of new businesses make it past their first year, just about 50% cross the 5-year mark, and only 30% make it to 10 years. Eventually, 90% of startups fail.

This is why the first thing you should understand is that the chances of success (any kind of long-lasting success) are slim. But don’t let this stop you. It didn’t stop me, but I think it’s always good to be realistic and to know the odds when playing a game as serious as starting a business.

#2: The odds of getting rich are also just plain low

When we all start, it’s usually with sparkling dollar signs in our eyes. You ask yourself “what if this idea of mine is the next big thing?” and before long, you’re dreaming of being the next Snapchat or WeWork, oh wait not WeWork, my bad…

But “earth to you”, the probability that you’ll get fantastically rich are incredibly slim. According to hard data, only 1% of startups will become unicorns. One hundred thirty-seven thousand businesses are started every day, and yet, there are only 400+ unicorns worldwide.

#3: Your mental and physical health will suffer

Perhaps one of the most challenging things about starting a business is the toll it takes on your body and mind. KPMG reports that about 1 in 5 founders confess that their mental wellbeing is not up to par.

But you know what’s wrong with that stat? It’s incorrect, and in my opinion, it would be closer to 1 in 3 founders deal with mental and physical issues. Most founders will not even let on that they’re suffering. Most of the time, you’re there getting the life squeezed out of you by the pressure and the stress, but you just keep on going because the idea is everything.

However, if you don’t deal with this, it can end up in real disaster. Just ask these founders for whom it all became too much to handle.

#4: You need to be good with people

Although every founder and organization pays lip service to this one, it’s incredible how few people walk the talk. If there’s any one factor that is central to success as an entrepreneur (apart from having a good product fit, a great team and time), it’s able to manage, inspire and influence those that work with you.

No matter how smart you are, you can’t do it all by yourself. While some people like Steve Jobs could get away with being dicks, it’s because they are plain geniuses and outliers. The odds that you’re also a genius (or an outlier) are really low. So just be good to your people. It pays.

#5: You need to be able to sell what you build, do or run

If you have a product that you are not comfortable with selling, I can tell you right now that you’re barking up the wrong tree. You see, there’s a reason why they say leadership comes from the head, and this is why.

Your performance as a startup founder will be central to your team’s success. If you cannot communicate an infectious passion about your product, it’s doubtful that you’ll be able to convince others to. You don’t have to be a pro salesman for this. It’s enough that you are passionate about what you sell.

#6: Success never happens overnight

Just as succeeding is really difficult, it never happens overnight. Movies are rife with scenes where a mystery investor appears overnight and all of a sudden; your product finds a market, people are buying and before long, you’re writing big checks.

It doesn’t work that way in real life. Although Bezos started Amazon in 1994, the business didn’t make any profit until nine years later. Coca-Cola famously spent $74 on advertising in its first year and made only $50 in sales.

In real life, you will have to put in a ton of work every day for many years in a row until things start to turn up. You don’t ever really get over the finish line, because there’s no finish line. It only makes more (or less) sense as the days pass. So try to think in the long lines. When you’ve been working for 3 to 4 years on your business, and you haven’t crossed the 1 Million revenue line, don’t beat yourself up. You are doing great and just keep on grinding. Like a fine wine, a business needs to ripe.

#7: If you don’t come up with a system to keep you going day in and out, you won’t make it

Really, you won’t. If you try without having a system that keeps you running while under loads of pressure day-in-day-out, you’ll feel like you’re being hit with a ton of bricks every day. It will get harder and harder to cope until one day; you’ll simply break down from all the stress and the pressure.

It’s best to find a system. If that means no meetings until 10:30 in the morning, shutting off entirely on weekends, Meditation four times a day for 10 minutes (yes, I’ve done that), trying out yoga or grinding it out in the gym every morning, find a system that works for you. It’ll help you to get through those days you just want to give up and stay in bed.

#8: Entrepreneurship does not equal more freedom

Many people might tell you this, but no, it doesn’t. In fact, you’ll find that as you go on, you have less and less freedom. As a founder, you go to bed with your business and wake up with it. Everywhere you go, it will be the principal thing on your mind. At some point, you may even feel like a slave to your business. You feel like you can never just walk away.

Compared to founders, employees have much more freedom. Once they leave work, your business is out of sight and out of mind. But you’ll always be snared up in the company, no matter how big it becomes. Quite simply, it’s a mental prison.

#9: When it comes to discussions about money, no one is your friend

Lastly, keep in mind that when money enters the discussion, friendship flies out the window. It’s a “dog eat dog” world and at no point is this clearer than when money is on the table.

People will always watch out for their own interests. If you can anticipate this and prepare for it, you and your business will be better off.

Considering the difficulties of entrepreneurship, it’s no wonder that fewer people are starting businesses. Inc reports that the share of 1-year old companies has fallen by nearly 44% between 1978 and 2012. Simply, fewer people either have the means or balls to take on the risk of entrepreneurship. Or it’s getting harder to compete in a world where a few vast enterprises corner and own the entire market. As a small-time player, you just can’t carve out a market without the help of outrageous luck. But is this really the case though? And I also think that these statistics shouldn’t mean that you shouldn’t take your own shot.

So for what it’s worth entrepreneurship is undoubtedly hard, yet

It’s entirely worth it when you succeed

Believe me when I say that there’s nothing like slogging through all the hard work and seeing it all pay off. Just know that on your way to eventual success, you will find many positives. These may even outweigh the negatives in the long run. For instance:

• You’ll learn high-value skills very rapidly literally because the welfare of your employees and the success of your business depend on it.
• You’ll be able to spend time working on those things that you deem essential. It’s your business after all, and you can decide what you want to do with it.
• You’ll meet a bunch of exciting people in your journey. You’ll gain valuable relationships and gain a real insight into what makes people tick. This knowledge, though often underrated, can really help you get ahead in life.
• All the pain is worth it on those special moments when you close that customer, bag that investment, sign the contract or sell your business. These moments are rare, but they are amazing. Savour these moments and make sure to celebrate with the ones you care about!
• And once you’ve finally started, it becomes easier to do it again. Research shows that founders who have made one business successful are 30% more likely to succeed again. Even if you failed before, you have a 20% chance of getting it right, compared to just 18% of first-timers.

Final thoughts

When all is said and done, one thing you should always remember is: there’s no real playbook to entrepreneurship. More often than not, you write your own rules as you go along.

But if you keep these tips in mind, it’ll give you something to watch out for on your journey. And, hey, it may even make things easier for you.

So that’s your lot for today. Have you discovered any other truths in your startup journey? Dish some of that out in the comments section below.