Young entrepreneurs believe that to be successful, all they have to do is work long hours and aggressively pursue relentless growth. They have never stopped to think about what they want from their business and how to go about achieving that goal.
Many people start a business because they want a better life for themselves, or they believe they can regain their freedom from their corporate job. Occasionally, they'll also try to make the world a better place. Building a business is not an easy task. Anyone who says it is must be lying or has never tried to build a business. A lot of effort, angst, frustration and hard work goes into creating something where there was once nothing.
Unfortunately, a scary trend in entrepreneurial spheres exists that I call the "sacrifice fallacy", and it has to stop.
Entrepreneurs believe the only way to build a successful business is to sacrifice everything for it. This is simply not true. I know entrepreneurs who are unhealthy, never sleep, don't have any relationships outside of their company, haven't taken leave in years and haven't exercised since they started their company. I know entrepreneurs who have been divorced, neglected their kids, pets,...