Entrepreneurship is trending. Entrepreneurs are the new rock-stars. People tend to glorify the glamour and fame of entrepreneurship. However, it is hard. It’s a rollercoaster ride with more downs than ups. Most people think entrepreneurs are the ‘optimistic folks’, confidence oozes out of them after all setting up a new enterprise is no picnic. The realistic picture of entrepreneurship is, ugly. It’s a day in and day out marathon of work with little glamour. There is mental, emotional, personal and social cost associated with being an entrepreneur. Being an entrepreneur isn’t a position it’s dedicating your life for betterment of the world. It’s in your heart. We rarely hear about the harsh realities that entrepreneurs face. Here are some bitter truths about entrepreneurship.
The Lonely Path
Lonely this word sounds alien. It doesn’t come to our minds when we ponder about entrepreneurs. Sadly, it’s a reality that exists ubiquitously. As humans we are accustomed to companionship. At school, college we have our friends. If you are working in an established venture you have your colleagues. However, when you start your own business you are terrifyingly alone. You are exploring some unfamiliar territories and its up-to you how you build your business. Some of the entrepreneurs have partners or co-founders but that’s it. You don’t have any referral group. This tremendous sense of segregation eats you from within. Yet, you have chosen a path however lonely it may be you can’t afford any detours.
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Are you or do you ‘have’ to be optimistic!
Entrepreneurs are ultra positive. They truly believe that anything is possible. However, here’s the thing when your budget exceeds your inflow cash, when your venture doesn’t hit it off as you had anticipated and your expectations go down the drains. Then can you be optimistic? It seems like far-fetched road. Can you behave gloomy or depressing? No, as a leader you have to be reassuring, somehow you still ‘have’ to find a way to be positive because if you yourself don’t believe in your ability to execute and make your venture a successful one, then who will?
It can take forever
There is a misconception that entrepreneurs achieve overnight success. You may have a million dollar business idea. However, reality dictates you can’t achieve it overnight. You can become a successful entrepreneur, but it takes time. Growth and final accomplishment takes time and it’s very difficult to anticipate that particular amount of time. Entrepreneurs can’t keep high expectations if they do so they will be settling up for disappointment. People around you will have soaring expectations, which makes it even more difficult to achieve success especially when you are struggling yourself.
Entrepreneurs are their own masters or are they?
Independence is assumed to be one of the perks of being an entrepreneur. Well, once you have an established enterprise you have an inflow of customers it’s easy to be independent. But, when you are developing, your customers and investors are the ones who actually pull the strings. Can you build a business without customers and investors? No, hence while your business is still growing, they are the ones who will call the shots and you actually will have to respond to their needs.
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Get accustomed to self doubt!
Entrepreneurs generally are super-confident and self assured. This is true. However, there are times when you will constantly fail especially as a struggling entrepreneur. Your resilience and patience will be tested. Thick and fast, some opportunities will make you doubt your skills, plans, ideas etc and at those times self doubt becomes as natural as breathing! However, remember the faster you detach yourself from self doubt the lesser hold it has on you.
You’ll miss a regular 9-5 job!
Entrepreneurship is not your cup of tea if the first and foremost need you have, is to make money. The normal misconception related to entrepreneurs is that they are wealthy. Not every entrepreneur will be the next Mark Zuckerberg. When you start making a solid amount of money, it is wisely spent on consolidating your enterprise and nesting your company with the most talented people in all fields. In the beginning, you will earn lesser than most of your friends, especially the ones doing a regular 9-5 corporate job. This is when you will miss a regular pay check. But, if you are truly dedicated your enterprise, your desire to have a huge bank account takes a back burner. Completing your mission becomes your sole ambition.
Also Read: top 10 myths about Indian startup ecosystem
There is no miraculous elixir
A single deal that will make your company, this almost never happens. Certain customers, deals will help you push yourself one step ahead on the ladder, yet there are many such rungs on the ladder to climb along your journey. Every deal serves like a particular milestone in the long journey of success. Success of a start-up relies on a fusion of both luck and many wins (deals) along the way.
Are you working smart?
Working hard is considered to lead to the path of success conventionally. Sometimes even if you are working very hard you still don’t achieve success. What went wrong! Were you working smart? Working smart means taking the right decisions or making the smarter choices. Smart people climb up the ladder real fast. But, that definitely doesn’t imply that smart people don’t work hard. Smart work and hard work can’t be segregated from one another. They are like Yin and Yang. Only way to achieve success is taking smart choices and working hard towards fulfilling your dreams.
Females, you aren’t in for a treat!
Well, business-savvy ladies you are destined to face obstacles because of your gender. In a crowded seminar and you will be able to count the number of women on your fingertips. Investors will not take your ideas seriously. Maintaining a work-life balance is difficult for all entrepreneurs but women, it will always be harder for you. You might not have the required family support. You might find yourself fighting alone in this patriarchal society. Yet, it’s your ambition, your dream you just have to toil for it.
Entrepreneurship has its own highs and lows, your enterprise might touch the zenith or it might fail miserably. At one stage or another you definitely will face some of the above mentioned harsh realities. Yet, entrepreneurship will still be the best thing that has happened to you. Arguably, you will celebrate it!
