Do you have an idea that’s ‘out of the box’? Check. You’ve set out to make it happen and have endeavoured to control your own success by using your witty business acumen? Check. Well, congratulations you can be termed as an Entrepreneur.
Becoming an entrepreneur might seem like the best idea to the youth today. One would often hear individuals cite examples of Sachin Bansal, Binny Bansal, Varun Agarwal, Mark Zuckerberg and many more entrepreneurs that have created an impact all over the world with just one idea. We often come across individuals who’d rather be their own boss. Entrepreneurship represents freedom and independence. It gives you a chance to not live your life in a schedule. Being an entrepreneur is not as easy as it seems. It requires a mix of originality, obsession with your big idea and mixing a hint of leadership and business discipline in order to be great.
How many of us have connected with Naveen Bansal from the TVF Hit Series ‘Pitchers’? The show excellently portrays the grey areas that lead to being a successful entrepreneur. In just 5 episodes the gruelling story of four guys trying to make it big with a killer idea, fighting all odds is narrated with ease. No journey is easy, success has to be earned. Being an Entrepreneur is no cakewalk; we now list down and help you realize the harsh realities.
Downside 1: Your Friends and Family are judging you so bad.
“Oh you want to start a startup, that’s nice. Are you sure?”
“I don’t think it’s a great idea.”
“You think this will really work?”
“I wish I were that nerdy.”
“You think you’re going to be a millionaire?”
The above will be some of the many reactions you will get from close friends, family members, and others over the course of starting your company.
Tip: Just because they don’t get it, doesn’t mean you’re doing something wrong or unacceptable.
Downside 2: Entrepreneurship doesn’t mean you mint money.
If you got into entrepreneurship for the money, then please get back to reality and realize that it’s not happening any time soon. Your friends would be earning well in their corporate jobs and you’d be a bit tense about the whole money game. But there’s nothing wrong in wanting to make money, just know you’ve got a long road ahead of you.
Tip: If you truly love what you’re doing, a large bank account means nothing.
Downside 3: Multi-tasking also includes switching from an entrepreneur to a peon.
You may be a CEO, Chairman, and Co-Founder of a 10 person company with a product or service that may potentially sell but titles really don’t mean much. Everyone will be doing a little bit of everything. Embrace the very fact and get the start-up moving.
Tip: You have to be humble and you have to be willing to do whatever it takes.
Downside 4: Don’t be a one man army.
There are entrepreneurs who have a superhero complex. It’s good to be a perfectionist. But it may result in being overworked and unfocused.
Tip: Let go of your pride and bring in people that are smarter than you.
Downside 5: Nothing is ever going to be under control.
The markets may collapse, the government may intervene, tragedy may strike, and other miscellaneous situations may make it hard. But you don’t let any of this make you quit.
Tip: The universe has a plan and you have no say whatsoever in it.
Ideas die. Companies die. Why? People give up on them. We hope this article will help you get through this difficult phase and motivate you to do better. Life as an entrepreneur is hard, but if you really love what you’re doing and are determined, you WILL do it.
What are some of the downsides you have faced as an entrepreneur and what have you done to overcome them? Leave it in a comment below.