The other side of Entrepreneurship that nobody reveals
Don’t we all dream of being on our own, enjoy the freedom of decision making and work independently towards our goals? At some point or another, we all fantasize about doing business, making money and fulfilling our dreams.
Opportunities to create something fulfilling are aplenty. All jobs require a sense of commitment but entrepreneurs require much more to grab opportunities and make their dreams come true.
The desire to quit job and anchor oneself in a startup of one’s own choice sometimes is irresistible. That’s the time to step out of the imaginary world of business, quit the existing job and take the plunge.
We have listed below why going down this path is a challenge and you may not be tipped off some harsh realities you should be known in the first place.
The dark truth of entrepreneurship
Not everybody succeeds. There are more failures than success stories in entrepreneurship. While unicorn startups like Uber or Facebook paint great success stories, hundreds of startups don’t take off at all. Most of the entrepreneurs approach with an understanding of their business idea and not what the market wants. Successful marketing is about ‘know your market and your customers before you take the plunge.’
Passion alone is not enough
Entrepreneurship is a game of grit and patience. Just being passionate and pushing your ideas does not work. Only those survive who endure the many hurdles, be it finance or technological issues, customer rejections or demand-supply matters.
Business succeeds with years of hard work
We often hear the saying, ‘Rome was not built in a day ’. All aspiring entrepreneurs should know that there are no short cuts. Hard work alone pays while businesses are built over the years. Inspiration comes from big conglomerates, the likes of Godrej which started in a ‘shack’ making locks and benchmarked their centenary celebrations with unmatched product-line and width.
It’s a lonely path
Being on your own comes with several challenges. As an employee one may enjoy group efforts and joint responsibility. But goal setting, decision making and discharging responsibilities is the sole job of an entrepreneur. You have to stand tall and stand alone.
In other words, you have to ‘bear your cross’ which can often be stressful and result in a lonely life.
You have to set an example
Leading by example is about the leader setting the tone. Entrepreneurs, who lead by example, make it easier for others to follow them. It is the best-known method of building trust within a team. When you take the initiative, the team emulates you.
As a team leader, you are responsible for bringing people together to move towards a common goal.
You probably won’t make much money
Nobody warns budding entrepreneurs that startups don’t cough up cash!
In fact, few who introduce a completely novel idea that consumers have been long looking for hit the jackpot. Several startups generate income like any other profession or may not at all.
While entrepreneurship may be rewarding in many ways, it does not assure wealth.
It will break your confidence
Call it instinct or judgment. Confidence takes a hit many a time in the long journey as the stakes gets higher and responsibilities grow. Every time challenges loom large, self-doubt creeps in. The uncertainty of business affects all entrepreneurs alike. Only the fittest or ‘fighters’ survive.
Faking or pretending don’t work
Entrepreneurs are self-made. So why fake it?
If u fake it u are not going to make it. People succeed by trial and error and if it’s not working, they should exit at the earliest clue. Skills can be learned and so can entrepreneurship.
True entrepreneurs never let go opportunities, overcome challenges and Push hard to see that silver lining.
If you weren’t sure up until now, consider the above few points to push you in the right direction. Live up to your potential. Bring out the entrepreneur in you.