tl;dr: owning a business does funny things to people. Make sure you're one of the ones who can handle it in a healthy manner.
Reality is having a couple million a year business can really lead to a fantastic lifestyle if done properly.
Emphasis on the "if done properly." I know a man who own his own american manufacturing company (yes, they still exist). They specialize in electric motors. They do good business despite having fewer than 50 employees and gross about $5M a year. I'm not sure how much of that is profit, but I'm going to guess most of it. The owner is fanatic about keeping costs down.
On the other hand, he doesn't have the temperament for business. He's a ball of stress all the time. He's always getting angry over what many here would consider standard business practices. He micromanages his company, especially his IT staff (which is one guy). He's had 4 heart attacks in the past 10 years. He has fewer than 50 employees because he refuses to pass the minimum to qualify for Obamacare (which would raise his costs considerably). He's a good guy, normally, but business ownership has been a net negative on his health and mental status.
I knew one other small business owner that was similar. He owned a successful comic book store at the local mall. He did great business and made a lot of money. Then, about 6 month after he opened the store, he noticed that shoplifting was increasing. He then became obsessed about limiting his losses. The idea that somebody could easily steal his merchandise stressed him out beyond measure. Business started going down around then because the changes he made to limit shoplifting also limited his exposure to passers by and made the storefront look unwelcoming. He eventually moved the store to the first floor of a single family home just outside of the city limits. His profits dropped considerably, but so did his losses. His stress also went away; he was no longer worried or obsessed about it. The tradeoff was worth it to him; he literally traded high profit for low stress.