How I become an entrepreneur and should I start my own business? should I start up?
- And it’s a valid question to ask because we’re living in an era with living at a time where it is actually very cool to start up it’s really cool to become an entrepreneur it’s really cool to run your own company.
- In 2020 everyone desires to start up because it’s become part of popular culture something that’s not looked down upon, become a legitimate profession. There are enough and more success stories of remarkable smart entrepreneurs who’ve made it big created very large companies and we see all of that, we hear all of that and we tend to fall for the glamour we tend to fall for everything that stands behind this.
- What an entrepreneur goes through because at the end of it honestly most of us think that an entrepreneur is someone who’s building his or her startup and is raking in the money like literally sitting on dollars and millions and billions of dollars is raising money is building fancy offices is of course running this company and like this cool CEO and just moving around in business class flights and staying in hotels and so on and the truth cannot be farther away from.
Why do you want to become an entrepreneur?
- It’s a great question to answer. Ask yourself why do you want to become an entrepreneur make a list of everything that you feel is something you want to get out of this. Quite a lot of people say that they want to become an entrepreneur or they want to start up because they want to make money.
- That’s a very fair way of thinking about it but here’s the truth the truth is that your likelihood or the probability of you making money if you are an entrepreneur or a startup founder is far lesser than you working in a normal job for the rest of your life you earn more money if you’re just working in a job then if you become a start-up founder because everyone who starts up makes money they’re very few a very small percentage of founders or startups that eventually become big and make money but a whole lot of them do not succeed so the odds are actually against you but if you do hit that odd it’s remarkable success.
- If you were to become a start-up founder but it’s still very high chance and that’s how the real world works if you want to make money when you want to become a start-up founder the odds of making that is far lesser you have to make the company work then you have to get it to a point where the product market fit is there then you have to get it to a point where you’re able to raise money then you have to get it to a point where you’re able to grow with that money then you’re able to get to a point where it becomes large enough for an exit maybe an IPO or a sale and that is when someone eventually sees money or makes money out of it.
Want to become my own boss
- Then the reason I want to become an entrepreneur is I want to become my own boss and it’s not as glamorous as you would think because at the end of it the reality is the day you raise money from someone and that is a higher probability that someone that you have to be responsible towards accountable towards is your investor you have to in some way oblige.
- You have to understand and hear them because at the end of it they have put in their own hard-earned money to make your business run and you have a model and a fiduciary responsibility towards them to make the business run. It doesn’t make you entirely happy but is a reality. But it is true.
Become an entrepreneur because it’s the joy of making a product work.
- It’s the joy of building something and seeing it become successful it is a joy I don’t deny I can tell you that there is there are very few things in life that give you as much joy as building something and seeing it go live in the market and people appreciating it.
- But that journey is extremely hard it’s not easy to come by it takes a lot. I personally feel is if someone asks what does it take to become successful as a startup founder and the answer is everything every possible thing like anything that you can imagine.
- More to become a successful startup founder so you have to give it your all you have to give your life to it you have to give your mental peace at times you have to give your mental stability at times you have to give away your hours you have to give away even your money you have to give away a lot of the relationships because you’re in this journey of building something which is extremely complex
- The first time itself you’re not going to get it right the first time itself it’s going to be hard you will release the products realize it’s not working you have to make another change and another change in another change and through that you will eventually get to a product that hopefully works but that journey is fulfilling but extremely demanding.
I want to be an entrepreneur because of money and want to do it because I want to be my own boss and I want to do it because it’s the joy of creating something from scratch yes those are very valid reasons yes those are very legitimate reasons but do understand the reality behind them do understand the nuances behind them because it’s not as hunky-dory as it’s made out to be it’s not as clean and clear as it make out to be if you have got to this point the next big question is how do you actually start up
I recognized that that was the core question of whether you should start up or not and the answer to me is never as scientific as you would want it to be the answer to me is very personal it’s everyone’s individual choice of whether they want to become an entrepreneur or not but once they do decide that hey here are the reasons why I wanted to become an entrepreneur and I think those reasons still hold I will want to take a bet on them I would want to go ahead and do something that makes me at least experiment with this and see where it goes the next then step is how do you actually go about building a startup and that’s a question which is an entirely different party queue episode.
