Becoming an Entrepreneur for the Wrong Reason
Even if the economy shows signs of elevation, the job market still is in a poor state. This is why I have observed a shift in trend towards entrepreneurship “ummm what if I start something of my own?” My advice to them is – “Don’t, not for the wrong reasons at least.”
According to Kara Miller at Innovation Hub, adults are becoming entrepreneurs either for the fame or for the necessity of finding work. Question is, should one opt for becoming an entrepreneur because they watched a movie ‘The Social Network’ and the whole idea looked so glamorous on screen? Should one risk their job and career for the limelight that follows the founder of “next-big-thing?” Since process have become easier and cost-effective, more and more people join the entrepreneur circle which is great but sometimes it makes it difficult for accelerators to short list potential and real entrepreneurs.
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1. Don’t to it for the limelight
As the culture of innovation evolves, I feel it’s really difficult to make people make themselves distant from high-tech disruptions to actually think big – really BIG – and innovate like a true entrepreneur. It’s a big challenge. It takes years of hard work in reality to be successful and earn a much deserved recognition. Startup founders might be treated like rock stars in Silicon Valley but the world does not work like that; sometimes businesses that attract huge media hype also fail provided they are not run well. Instead of thinking “how to become famous?” ask yourself “How to create something which will earn you the attention and limelight?”
Do not be in it for the thrill, if getting famous and becoming a celebrity is why you want to own a startup then please refrain because there are plenty of other ways to have the name and fame.
2. Don’t do it for the bucks
Entrepreneurship is for anything but money, do not start a business to be the next billion dollar acquisition rather start something to bring about a change through invention and new problem solving methods. If you jump in the circle for the money, chances are you will face a lot of competition and resistance who are in the industry for their passion. These passionate entrepreneurs might even trounce you out of business.
If you are a true entrepreneur, you will prefer doing something meaningful rather than something which MIGHT only be a profitable business. With entrepreneurship comes serious responsibility, it should not be confused with a golden-ticket to become rich and famous like Charlie Bucket from Charlie and the Chocolate Factory.
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3. Don’t do it because you want to be your own boss
This one is shallow and gets my blood boiling. I mean seriously, there are people I meet who want to startup something of their own either because they are sick of working for someone else or because they think they will have to work less if they own the business. The laughs at them because little do they know they starting up their own business can open up a whole new set of challenges. If there’s a problem anywhere in any department or your product or service, it becomes your problem and now you have no one else to blame for the shortcoming but yourself.
If you really think you are going to be working few hours, think again. You need to be all over the place, at work, running after investors, schedules with clients; everything needs to be sorted by you and ONLY you. So snap back to reality because they more established your business is the less time you will have for yourself on personal schedules.
Think hard, think multiple times before becoming an entrepreneur because it is serious business and requires commitment. Concentrate on making useful products and service to earn the money and deserving fame. Authority and responsibility go hand in hand so avoid founding a business if you are afraid of working from anywhere and anytime. If you are unsure about your entrepreneur capabilities, work for a startup and help passionate entrepreneurs to being about the much needed change in our startup ecosystem.
Image Credits: Entrepreneur