Today's environment is very dynamic and demanding, changes are occurring very often and quickly and every individual must be prepared for a constant change. Entrepreneurs must compete for their place on the market, which can be quite difficult and tedious. Entrepreneurship is the economic activity of an individual or several persons whose purpose is to create an entrepreneurial venture and profit, and the entrepreneur is the person or the owner of the company that manages it and assumes responsibility for all possible situations. In order for an entrepreneur to be successful, he must have knowledge of how to manage a company well and plan to enter into the risks. But many other things affect his behavior, such as motivation that tells whether the entrepreneur has any desire and passion for that job. Successful entrepreneurs means believe in their idea, have the knowledge of how to build a good team, have the capabilities to find necessary resources and perceive a good market opportunity. However, this whole entrepreneurial process is not easy, and every entrepreneur, no matter how successful it is, at a certain time, faces the negative side of entrepreneurship. Stress, fear of mistakes and losses, risk, and balance between private and business life can significantly (positively or negatively) affect the entrepreneurial behavior of an individual. The negative side of entrepreneurship is the subject of study of this thesis. The aim of this thesis is to see how an entrepreneurs handle difficult situations and make decisions, how they cope with the risk, stress, conflicts and fears as well as how they manage to balance their private and business life. These questions are covered by both theoretical and empirical part.