10 SIGNS THAT ENTREPRENEURSHIP IS NOT FOR EVERYONE
Not everyone is cut out to be an entrepreneur. It demands years of toiling your way through long working hours. It promises no recognition, acknowledgment, or success either. The failure or success depends entirely on how well you know your business.
Being an entrepreneur is way more exhausting and stressful than a corporate lifestyle. Several tasks are involved that demand time and attention beyond the apparent working hours. These tasks are from aspects like legal, financial, customers, marketing, sales, revenue, employee, expenditure, etc. And this is just the start of a very long journey.
Many don’t want to go through the stress of starting their business. They are influenced by the idea of being a boss. They seek a life where they work whenever they want and earn more than their current job offers. For most business makers out there, none of that is close to accurate. Be it branding, accounting, or technology, the amount of commitment to juggle these tasks a business demands is a great deal.
It would be hard to survive in this menacing jungle if one is a rookie. The drive has to be perpetually strong. Here are 10 signs to look out for that hint toward you not being cut for entrepreneurship;
- Time: The primary thing to keep in mind is that you will not become an entrepreneur overnight. It will take time, energy, patience, and effort to become one. There is a competitor outside the door waiting like a shark to eat the small fish, so it will be tough to make space for your product.
- Money: You would need capital and backup capital to start a business. If you are deluded that you will start making money in a matter of a few days, that won’t happen. So, be prepared for losses, failures, rejection, fierce battles to win consumers, and more.
- Time: If you lack the skill of managing time according to the priority of tasks, immediately back out from the plan of being an entrepreneur. This is not your cup of tea. The business world is volatile, and the smallest of mistakes like not being able to deliver on time can backfire and bring lousy word of mouth to your product and brand. So, if you think the effort will be just a little more than your regular corporate job, no, it’ll be a lot more than that. Be prepared.
- Failure: Are you someone who gets quickly disappointed? Business or entrepreneurship is not for you in that case. Entrepreneurs fail daily in several ways, and one needs to be mentally prepared to take that amount of negativity and still be willing to work hard every day. So, if you will be disheartened by all the loss that you might face, this is not something that you would want to set foot into. For an entrepreneur, it is essential to know how to live outside their comfort bubble; it helps in facing failures.
- Be answerable: Each person makes mistakes, by intention or otherwise. However, an entrepreneur needs to know how to take responsibility. No matter who is at fault in the team, the business person deals with the burden of its consequences. It takes a lot of self-motivation for an entrepreneur to be strong enough to be this responsible. At the same time, there is a need to keep the employees motivated, regardless of what is happening at personal level.
- Risk: No day goes by in the life of an entrepreneur that does not involve risk-taking. So, if you are someone who may not be prepared to take a risk, you may have to drop the plan to be an entrepreneur.
- Urgent Vs. Important: If you cannot differentiate between the both, you are missing something as an entrepreneur. There is a thin line between them, and if you are cut to being a business person, you’ll know it. If you have an urgent task at hand, get rid of it as soon as you know of it. Don’t wait to finish what’s essential and spoil both. Something significant can be done in its own valued time with skills and techniques, but you cannot treat something urgent similarly.
- Hard work: It is all about working hard day in and day out. It may not sound pleasant, but that is the life of an entrepreneur. It is not just about going around giving orders. The work does not decrease because you are the boss now. The work keeps amplifying from all possible aspects. The cliché of ‘work smart and not hard’ is only reasonable to say; the reality is that the ones sitting on the top are there because they worked hard to earn it.
- Strategy: One of the most important things about being an entrepreneur is to know how to create impactful strategies. If there is no strategy, there is no scope for achieving a goal or success. So many people make plans, but they fail miserably when it comes to execution. It is as important to know how to implement as it is to know how to plan; none of these can be taken lightly.
- State of mind: Entrepreneurship isn’t for individuals who can’t remain above water in difficulties, and a distressing field can prompt mental and physical breakdowns. After confronting these issues, getting back to work with similar power and drive is significant to accomplishing the dream of success.
If you lack even one of the above-stated points, be acceptant of the fact that entrepreneurship is not for you. An entrepreneur needs to think outside the box to deal with everyday problems. And if you lack the vigor and zeal for it, this is not the field cut for you. The business person has to be creative with the products with continuous improvement. The marketing ways have to be creative, and the person should be ready to learn by experience.
Author: Yashasvi K.
Freewill/Editor/Writer/Mother/Language Nazi! -- Not necessarily in that order!
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