“It’s easy to be an entrepreneur, but it’s way harder to become a successful one.”
These days, everyone wants to be an entrepreneur. Everyone wants to be part of this “WORK FOR NOBODY” mindset.
People are challenged nowadays to have ideas, pursue passion and be in control of their destinies. Great examples are given and everybody wants to model after someone successful.
It’s great to be an entrepreneur, and there is absolutely nothing wrong with that mindset, but I hate to be the bearer of this bad news… “Most Entrepreneurs Fail”.
This isn’t just from some infographic material or stats, it’s simply common sense. It is really hard to turn an idea into a reality and even when it does become a reality, it takes a lot of grace for that reality to turn into something of great significance.
There are several breakthrough stories, ideas that have become multi-billion startups today – Google, Amazon, Facebook, Instagram – I know, right?
These companies are rare, and very often, the world is nor ready for new ideas.
Are you still focused and passionate about starting something? Here are some questions I have for you.
WHAT IS YOUR MOTIVATION?
What are your motives for being the founder of an idea? Are you into this for the money? or it’s primarily to make an impact?
You need to know what you are chasing; else, you might never find what you are looking for.
ARE YOU DEEPLY PASSIONATE ABOUT YOUR IDEA?
This question is the most important one. To really pursue your idea and show your passion, you will most likely be waking up every morning for years touting its value to not just yourself, but your employees (if you have any), customers, friends, and family.
Even when you are the first to come up with an idea, you will find so many businesses eventually going for the same thing. You need to act fast on your ideas.
DO YOU HAVE A PARTNER/CO-FOUNDER?
Do you have a business partner? or someone who wants to collaborate with you on your venture? If not, it is time to consider one.
DO YOU HAVE A TEAM?
Getting to build a team before venturing fully into your idea will go a long way to give you a strong start.
With a team by you, even in good & bad times, each member will definitely bring something distinct to the table.
ARE YOU READY TO LIVE SMALL?
You won’t be getting huge returns, in the beginning, it’s absolutely normal. You have to be ready to go through the learning stage of knowing how to build your business, and as well the growing stages of your business.
In these times, it’s definite that you would have to throw almost all your money into investing.
ARE YOU COMFORTABLE WITH RISK?
Being an entrepreneur won’t probably make you the happiest person. At its core, starting a company based on your idea or passion is a 50-50, it’s either a High Risk or a High Reward.
ARE YOU READY TO WORK HARDER?
You will have more burden to carry and more responsibility than you’ve ever had.
ARE YOU READY TO GO FOR YEARS WITHOUT BENEFITS OR BALANCE?
There is no life-balance when trying to be an entrepreneur.
DO YOU NEED APPROVAL FROM OTHERS?
If you are always waiting for due approval from others, or a pat on the back, you may not make a good entrepreneur.
You need to believe in yourself. You shouldn’t rely on others to keep you going. Find strength in your passion.
ARE YOU READY TO DEAL WITH REJECTION?
How courageous are you to pick yourself up and make something out of nothing? Know that conviction is required.
You will get nothing but rejection all day long, from everyone you meet – From investors to even your first customers. You shouldn’t get depressed every time you hear “NO”. Instead, get inspiration from it.
You might ask yourself all those questions above, and yet find valuable answers. If even with my skeptical suggestions, you are still determined to try, here’s my advice to you:
“GO FOR IT!”
Be on the lookout
Know the amount of time and resources you are willing to commit to your idea.
MAKE SURE YOUR FAMILY IS INVOLVED.
There are many sacrifices you will be making & everyone needs to be in the know & understand what’s coming ahead; otherwise, your personal life may end up with the pain you can’t bear.
ARE YOU READY TO TRY THE WATERS?
Are you willing to dump your current job for your entrepreneurship passion? I have left several jobs just to pursue what I love doing. As an employee, I couldn’t work for more than 3 weeks before tendering a resignation, it was that bad.
PUT ALL YOUR ENERGY TO MAKE IT SUCCESSFUL
Dedicate total focus and commitment. Raising a company is a long-term commitment. You have to define the time span to which you are making a commitment. This will help you with the positive perspective you need to make it through the bad times.
So, do you think it’s easy to be an entrepreneur? Absolutely not! but it’s also fun. It’s just like having a new baby, you are excited about your baby, but then there are times when your baby poops and you have to be constantly up and doing to clean her up.
You will get tired & frustrated but fulfilled beyond anything you’ve ever imagined.
Does that sound right? Then you are ready for the challenges ahead. And if not, I don’t think you it’s your time to have a startup.