If you look at the lives of Mark Zuckerberg, Ritesh (OYO Rooms), Kunal Shah (Freecharge) and Bill Gates then you will get inspired to be an entrepreneur. Their life looks easy and great as an entrepreneur. Apart of being easy and happy, they look inspiring and motivating. We all have acquired our set of requisite motivations from them at one or the other points of our lives. While Zuckerberg inspired us to be intelligent, Bill Gates leveraged to us the best lessons of gratitude and philanthropy. No One Is Telling You The Dark Side Of Becoming An Entrepreneur
A lot of books and articles on the Internet are found proving Entrepreneurship as the best career option. Out there, a lot of people are working hard to inspire people to purse entrepreneurship as a career; they are discussing varied benefits of creating something on your own; their talks are motivating and highly inspiring. They have surely talked a lot of people into inspiration and have mentored them to the doors of success but it is not a common phenomenon. Not everyone is going to taste success on the roads of entrepreneurship because most of them have failed to understand entrepreneurship.
Entrepreneurship is not about starting a business or hiring people rather it is about creating a revolution, solving problems and about managing available resources for a better tomorrow.
While everyone is forcing, coaxing and inspiring you to take entrepreneurship as a career option, there are few things you need to tick before you actually take up entrepreneurship as a career because once you delve in the direction and fail, it is going to hurt really bad.
Most of the people do jobs for the following amenities and perks; if you are one of those people then entrepreneurship is not for you:
A job that provides security and guarantees a salary hike every now and then.
Taking innocuous opportunities, accomplishing them and acquiring better promotions in the next quarter. If you are looking for an opportunity to scale higher in your department, you will fail as an entrepreneur because entrepreneurship is more about being a jack of all traits and master of none.
Quick money is a distant dream for entrepreneurs, if you are good at making money and are leading a satisfied life then why bother to startup and lose the peace.
If you are afraid of taking risks then entrepreneurship is not for you. Entrepreneurs need to innovate and take risk whenever they reach an end block. They need to work when the world sleeps.
Now that you are aware of what it takes to be an entrepreneur, we are also going to tell you what happens to a lot of people who fail to make it big:
Stress: Stress is something you get when you are unable to get things done on time. A lot of researchers have proved that stress is a good thing for the people who believe that Stress is Good. If you believe stress is good then you are hinting your body to prepare for the upcoming situation.
Depression: Yes! You read it right; a lot of people undergo depression once their startup fails. You went on to a journey to change the world but ended up doing nothing, this is going to get embarrassing when you walk out in the public but your learning, your experiences are going to stay with you.
Once your startup fails, it is time for you to introspect and use the available knowledge for improving. Accepting defeat is not the entrepreneur’s way. Try to do something on your own. If you really feel about entrepreneurship, you will start planning for a better tomorrow but this is not the reality. 33 percent of failed entrepreneurs go back to the job they were doing. Only handful of entrepreneurs is courageous enough to start again.
Relationships Starts to suffer: It is not required for you to fail; the day you start working as an entrepreneur your relationships will start to suffer. Your partner will start nagging you while your parents will grow insecure about your future. It depends on your communication skills that how well you take them under confidence and pursues your dream career.
No Social Life: Your social life will get limited to meetings with your dedicated team and to pitch sessions. You will have to forget visiting clubs and partying with your friends. You may be forced to miss a lot of weddings but if you are successful in making a grand business out of it then everything is going to look worthy. Work in a way that if you look back everything seems to make sense.
Scary it is: It is going to happen to you; there are going to be nights when you will wake up from your sleep all scared and tensed. Before every angel investor meeting you will find yourself getting nervous as if it is the first day to the school. Entrepreneurship is going to take a toll on your mental health no matter how mentally strong you are. You will have to work harder at every point of life to maintain a balance otherwise going insane is an understatement.
Things to do before starting your career as an entrepreneur:
Make sure that no one is dependent on you because you will be putting his or her survival at risk too. Do not pursue full time startup if you have got dependents. Take up a job and work on your business in part-time.
Check how long can you survive on your emergency fund: If you have decided to ditch your job and pursue entrepreneurship then please have a look at your emergency fund and calculate for how long you can survive on it. Professionals will suggest to make an emergency fund for a year at least before you leave your job to build your dream business.
Finding investors are not that easy, you may need to do odd jobs: Out there are hundreds of jobs you can do to keep up with your expenses. You can work as a freelance designer, writer or developer. These jobs are not going to eat up your time. You will be able to concentrate on your business and have a side income as well.
Life is worth taking risks if you are ready to work hard and smart. Do not be dependent on your co-founders, take your decisions and be the one who runs the business.