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Entrepreneurial Life

Yes you can start a startup, but not everyone is ready to be an entrepreneur

One idea is not enough; It takes more than a good product or service to start your own business, especially personal work tools.
Image credit: Depositphotos.com

This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.

By Marta Ro

In the world of entrepreneurship, an idea is only the first step to start a long road that is not usually easy. Many times it is believed that having a good concept in mind and some savings is enough to start a business ; people marry that plan and start startups with a view to turning them into a MSMEs or large company; however, little is said about the human effort required and the personal work tools necessary to resist this process.

As a mindset coach , and personally as the owner of her own company, I have seen the enthusiastic boom of the youngest to start entrepreneurship, especially in the current context of the pandemic in which the number of jobs lost in Mexico during 2020 amounts to 647 thousand 710, as published by the Mexican Institute of Social Security (IMSS). A solution to meet the needs and an alternative that means better growth opportunities in our country has always been entrepreneurship, even before the appearance of COVID-19 .

But if it seems so easy, why is not everyone ready to undertake? The reality is that the problem arises from the conception of a startup until it becomes a MSMEs or large company. Entrepreneurs, or those who recognize themselves as such, start their project focused on what they do, but not on what they do it for; They are convinced of your product or service, but their motivation is almost always external: to expand their idea and be recognized, generate more income, not depend on a boss and / or another identity, etc. It is fine and it is absolutely normal that this is the case because in Mexico there is no ingrained culture of leadership that guides us to work at the service of others, which many times biases entrepreneurs when defining the purpose of their business, their Why or what for. They know what they do, but not what they do it for, that is mindset when undertaking.

From a mentality perspective, the failure of many startups and MSMEs derives from the fact that their center, where they live their what they exist for, is not solid, much less clear. It is for this reason that not all those who undertake are prepared for it; in terms of resources probably yes, but in human terms it takes a lot of stomach to do it. It is, above all, a race of resistance and development of a specific mentality for business, I am not just talking about a strategic mind or unfounded positivism: mindset is knowing what you need to act as a human being in the different moments and stages of a business . On balance, an entrepreneur needs to develop business skills and mindset before venturing out to be the head of his own company.

Why are there those who do succeed and those who stay behind? Because entrepreneurship is not for everyone. Many have the possibility, but only a few take responsibility for staying on track. There are very common mistakes why some people choose entrepreneurship as if it were a solution to the traditional work model; these are:

1. Create a business from the need to get out of life "godin". Entrepreneurship is not running away from a boss and a scheme that forces you to respect a schedule, hierarchies and processes; it requires a lot of stomach, that's why not everyone is able to stay on that path. Beyond anything someone knows or can do, entrepreneurship requires courage because it is a business of leaders.

2. Believe that entrepreneurship equals free time. It is a false promise. The reality is that the entrepreneur has the freedom to manage his schedule, but not free hours for himself. Entrepreneurship is, in many cases, doubling shifts and covering different profiles until a rhythm of work is built.

Why are there those who do succeed and those who stay behind? / Image: Depositphotos.com

3. Not developing a resilience mindset. From the outside, the idea of being your own boss, owner of your time and your income, looks very attractive; However, this is a risky business since there is only the figure of the entrepreneur until it forms a team. It is risky because, if everything goes well, you have done well, and if everything goes wrong, it is your fault for not having done it differently. Not everyone is willing to deal with it every day, or to make decisions that can improve everything or lead to bankruptcy, to be in constant motion, much less to navigate conflict.

4. Not being willing to pay the prices. Being an entrepreneur also means that not everything will work out. You need to make up with rejection and deal with failure. Whoever chooses to work on himself and be responsible for all the moments of his life will see his business prosper. Whoever is willing to go through their own mind can create extraordinary results, not just financial ones.

5. Confuse being a boss with being a leader. Suddenly being in front of a business does not make a person a leader. A leader asks himself why he does what he does, what he wants to change in the world and sees first for the people before his own benefit. It is at the service of others.

Some recommendations to start in the world of entrepreneurship either with an emerging company or any other business profile are: