An entrepreneur choice means setting your schedule, making work fun, experiencing freedom, working with people you like, doing what you believe in, creating your own future, and making the world a better place.
However, let’s take a look at the downsides of being an entrepreneur:
• No matter how hard you have studied, what you have done in your life academically or professionally, the market doesn’t care about it. All it cares about is the product. If you can deliver value to the customers, then the market and media will love you, and if not, they won’t even consider anything no matter what.
• When you are a Start-up founder, you are the main person of your team. You will be celebrated, listened to, and will guide your team. But everything you do will be taken very seriously, you will be accountable for everything, you will always be under the microscope.
• Investors do not care about you and your start-up. They care about only returns that will involve the business to be successful as they are into making their returns and can take steps that might not be good for the company but their profits.
• You will have to change your strategy as your company grows. In the starting you will focus on the learning, implementation, thinking, and doing cool things, attitude will be at the center stage. As the company grows, the experience will be at center stage and you have to change accordingly.
• You will think only you are failing. But that is not true, every person, company, or start-up faces challenges and struggles to do something better. You will think that nobody is facing bigger problems than you do and you are at fault that things are not happening. However, it is not true.
• Your emotional state will always reflect in your team. You can’t hide anything. Your team’s reaction, output, and mood will be determined by how you behave and feel.
• There is no defining moment. You can’t measure success, you can’t celebrate wins, you just don’t know what’s a win and what’s not. Only your progress as entrepreneur can measure your success.
• At some point, you will have to fire people. Sometimes it’s not the people, but it’s the external factors that are at play that make your decisions go wrong and that is a very difficult emotional state to handle as you know their livelihood depends on your families, responsibilities.
• Every problem in the company is your problem. Any problem no matter how small or how big, it’s your problem because it is expected from you to look into it and that gets difficult, very difficult.
Hence, entrepreneur is much more difficult than we think. After the initial excitement fades, the reality sets in and you have to deal with it, the challenges and only you know that what you are going through as an entrepreneur.