Not a week passes by without someone writing me to ask for some sort of entrepreneurial advice. What I have observed over the years is that many people think they are or can be entrepreneurs, but in reality, they don’t have or know what it takes to become an entrepreneur. A lot of things you will hear about entrepreneurship borders on BS. On the surface, entrepreneurship is the dream of everyone, but once you are inside and come face to face with its realities, you might begin to have second thoughts. The sooner you learn about the realities of being a trailblazer, the sooner you can avoid the disappointments, bruises, bumps associated with entrepreneurship.
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| What you see outside is might not be actually what is inside>>such is the world of entrepreneurship |
So here are 7 reality about entrepreneurship that you probably don’t know.
Reality #1: Entrepreneurship is like a roller coaster
Most wannabe entrepreneurs have a vision of what their lives will be like if they start their own business: no boss, enjoying maximum earnings while working 5 hours a week, driving a dream car, not having to account for anything and so on.
Well, if this is your kind of vision, you can take your vision to the shredder because it is probably not accurate. When I resigned from my 9-5 job, I thought I was stepping into an easy world of entrepreneurship where everything would work according to plan. I thought I wouldn’t have to work 40+ hours per week. I thought my business will be an instant success in the real world as much as it was on paper.
Well, if you say I was naïve, you are most right. Now I have learnt the hard way—that entrepreneurship is like being in a roller coaster and there are no easy paths to success.
I have come to accept the fact that things move a lot more slowly than expected, although at other times they may move really fast. It is hard to predict. There are moments when I enjoy and feel like the world is my oyster and there are moments when I find myself wallowing in frustrations and broke as hell. Things look really rosy one moment and really bad the next moment. Sadly, at times, you just won’t know what to do except to scream. That is entrepreneur world for you. But I really like it this way. The question is, will you? Do you?
Realty #2: An entrepreneur is an inventor
In his book Awakening the Entrepreneur Within: How Ordinary People Can Create Extraordinary Companies
,Michael Gerber writes: “An entrepreneur invents new businesses. All other inventors invent new products.”
,Michael Gerber writes: “An entrepreneur invents new businesses. All other inventors invent new products.”
Entrepreneurs are inventors who see the world through the wide-open, alert eyes. They spend their time studying the market, the products and virtually everything that concerns humanity and asks the questions, “What’s my mission in this?”, “how can this be made better?” The entrepreneur then answers the questions by inventing the missing pieces and making it better. The entrepreneur can’t help himself, it is just something he/she does by instinct. It is their calling. It is their mission.
Thus, the entrepreneur continuously seeks ways of inventing new businesses. He/she invents a new and unique product that catches the fancy of the customers. The products stands out because it can solve the customers’ problem better and quicker. The product captures the imaginations and attention of the people whom it was invented for, whether it is for the suppliers, employees, customers etc.
By and large, invention might not an automatic ticket to success for enterpreneurs, but it sure separates the mediocre businesses from the great entrepreneurs. If you consider yourself an entrepreneur, ask yourself this critical question:
There is nothing more fulfilling to an entrepreneur than seeing his invention being received well by the target audience like a customer buying the product.
Reality #3: Titles mean nothing. You are just a cleaner, a messenger, a salesman—all those things.
We all like fancy titles: CEO & Founder, President, Co-founder, Chairman, e.t.c. But look at this way: your company is new, it has less than 5 employees. What about the product? It doesn’t have customers yet. So what is the point of calling yourself a CEO?
Titles don’t really mean anything at this stage because you are probably doing everything including cleaning the office and toilets. In reality, you are probably trying to bootstrap your new business and giving it all the support it needs to get off the ground.
So titles should be the least of your concerns. You have to be willing to soil your hands and humble yourself in the early days. At this stage, you are no more than a founder. Try to be as efficient as possible. Until you have employed enough staff and penetrated the market; that is when you can start thinking of titles.
Titles don’t really mean anything at this stage because you are probably doing everything including cleaning the office and toilets. In reality, you are probably trying to bootstrap your new business and giving it all the support it needs to get off the ground.
So titles should be the least of your concerns. You have to be willing to soil your hands and humble yourself in the early days. At this stage, you are no more than a founder. Try to be as efficient as possible. Until you have employed enough staff and penetrated the market; that is when you can start thinking of titles.
Reality #4: There is no such thing as overnight success
Behind every overnight success story you read in the media, there are tons of hard work, patience, sacrifices and failures that never get mentioned. So don’t resign from your work thinking you are going to be the next Steve Jobs or Bill Gates.
Your first idea will most probably be a big failure. Your second idea might come short of being a disaster and your third idea might be embarrassing and so on. However, this doesn’t mean you are not entrepreneur. It simply means you have not found the right idea.
So long as you keep trying, you will become the so called “overnight success story.” It is okay if things don’t work out as much as you would have liked.
Your first idea will most probably be a big failure. Your second idea might come short of being a disaster and your third idea might be embarrassing and so on. However, this doesn’t mean you are not entrepreneur. It simply means you have not found the right idea.
So long as you keep trying, you will become the so called “overnight success story.” It is okay if things don’t work out as much as you would have liked.
Reality #5: Entrepreneurs are made, not born
Many people I have met have this mistaken notion that entrepreneurs are born. As a result, some of them believe they are not cut out from the entrepreneurial cloth.
Anyone can become an entrepreneur so long as they can invent, conceive a great and original idea. For some, this may have to take longer to develop that explosive idea while for others, this might occur with less effort, but still, anyone can become an entrepreneur.
One needs to practice by developing ideas and testing them in order to develop one’s entrepreneurial skill. All you need is simply the desire to develop it.
Anyone can become an entrepreneur so long as they can invent, conceive a great and original idea. For some, this may have to take longer to develop that explosive idea while for others, this might occur with less effort, but still, anyone can become an entrepreneur.
One needs to practice by developing ideas and testing them in order to develop one’s entrepreneurial skill. All you need is simply the desire to develop it.
Reality # 6: You’ve got to give more to get a little
The problem with most of us who want to become entrepreneurs is that we go in thinking we will harvest more than we plant. When you get in, you realize that you have to plant more to harvest little, especially in the early days.
They say, “If you build it, they will come.” But that is not what happens in most cases. What happens is, if you build it, you still have to go and find them and bring them in. for instance, you can’t just pop up a website, publish a couple of articles, point some ads and wait for massive traffic. Nowadays, you need to give a lot to get a little.
There is a lot of competition and customers are aware as much. So, a lot is demanded from you before you can gain something. It is not easy.
They say, “If you build it, they will come.” But that is not what happens in most cases. What happens is, if you build it, you still have to go and find them and bring them in. for instance, you can’t just pop up a website, publish a couple of articles, point some ads and wait for massive traffic. Nowadays, you need to give a lot to get a little.
There is a lot of competition and customers are aware as much. So, a lot is demanded from you before you can gain something. It is not easy.
Reality #7: You will be misunderstood by friends and family?
Do you think you are going to resign from your high paying job in order to start some God Know what startup and get approval smile from your partner, friends or family members? To them, being an entrepreneur means being un-employed. Some will even ridicule you or give some funny remarks.
At best, they will offer lukewarm congratulatory message and if you are smart, you will be able to read the doubt and the cynicism in their messages. Sometimes, even if you achieve an important milestone such as getting new clients or hitting new traffic levels, they will still think it is bubble that will soon burst and leave you reeling with regrets of quitting your job.
It’s been half a decade since I ventured into my own and some people are still waiting for the day I will surrender and go back to 9-5. Despite my successes: better work life balance, higher income and generally brighter prospects, they still don’t see the sense. I still get asked questions like, “haven’t you found a job yet?”
At best, they will offer lukewarm congratulatory message and if you are smart, you will be able to read the doubt and the cynicism in their messages. Sometimes, even if you achieve an important milestone such as getting new clients or hitting new traffic levels, they will still think it is bubble that will soon burst and leave you reeling with regrets of quitting your job.
It’s been half a decade since I ventured into my own and some people are still waiting for the day I will surrender and go back to 9-5. Despite my successes: better work life balance, higher income and generally brighter prospects, they still don’t see the sense. I still get asked questions like, “haven’t you found a job yet?”
What better job should I be doing other than what I am doing now? It is ridiculous. Well, such things shouldn’t bother you.
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