#6 Darker Sides of Entrepreneurship No One Talks About
To build a product capable of solving desirable problems, you will be required to work in a secluded environment
Entrepreneurs are making news these days with their innovative approaches and dynamic product launches. These young idols have it all to leave you envious with their ‘cool’ life. Those smiling faces in well-crafted suits lure the business enthusiast for you to try your hands at the modern trend of starting-up.
As you read further, I am not even sorry if I disappoint you, but let us decode the iceberg behind the tip you see. Busting the myth out of the personal experience, I will be blunt and honest in talking about these dark sides of the entrepreneurship you seldom to get to hear about!
Security is Definitely Not Your Best Friend
The day you decide to start up, make a personal note in your diary and bid an adieu to the word called security. Security of future, finance, family and freedom! This journey often deprives one of the ability to make the free choices in terms of 4Fs mentioned above. The financial crunch, uncertain future, irregular family engagement and the lack of freedom to make personal decisions will be surrounding you.
Loneliness is Not An Option but Compulsion
In a vow to build a product capable enough to solve the desirable problems, you will be required to work in a secluded environment. Your team defines a major part of your world and the work, your god! This shift in priority list will make you friends with loneliness and leave you in isolation. This compulsion of working solitarily will put your emotional intelligence to a test.
Anxiousness Will be One of Your Regular Guests
Budding entrepreneurs are most vulnerable to the anxiety and depression. This journey which is taken up by them has a less success rate. While the social media feeds will boast about the success stories of your counterparts, inability to create something enough dynamic will kill you slowly. Having felt unheard often in this noise, you will be greeted often by anxiety.
Funds are Often Burnt Recklessly
Be it early age or the seasoned entrepreneur, if you refuse to make the judicious use of your resources, your funds and resources will deplete faster than you can imagine. If you are not making the right choices and refuse to learn from past mistakes, your funds will not take a long time to be a matter of past as well! You will be prone to sign up for the liabilities and invite failure to your doorstep.
Are You Not An All Rounder?
A start-up is not a formal corporate and hence the 'departments' are often not held by a separate entity. Limited funds, uneasy circumstances and lack of team spirit demand one to be an all-rounder to start-up. It is necessary for the founder(s) to be an all-rounder player in the field. Guess what? Considering the average human efficiency, perfection is a myth and the ones who indulge in self-learning are the winners.
Products Fail Before You May (Not) Rock the Market, So Does Your Confidence!
If you closely follow the previous points, you will realise that an individual’s psychology has a huge role to play in the success of any entrepreneur. Failing is inevitable followed by an all time new low for your confidence. And oh, the products fail, teams give up and investors take a back seat more often than you can think.
Bad news, you will fail. Good news, you can always learn from it and chose not to repeat the same mistake. Your worth lies in what you learn from the failure.