Why do people become Entrepreneurs?
Why would you like to be one (or not be one)?
This is what the Wall Street Journal summarizes in a fantastic article
First , the reasons WHY, in my personal opinion:
- I tend to agree with these statistics. The MOST compelling reason I became a digital entrepreneur (and left my well-settled family business of over 30 years) was because I wanted to get SUPER RICH, FAST and all by myself.
Errr… It’s taken me 18 years of ‘entrepreneurship’ to figure it’s not that easy.
- I wanted to ‘ESCAPE’ the Marwari Family Business structure in which I found myself imprisoned in. That syncs with #2 – Being your own boss.
- I wanted to be a part of the ‘Internet’ arrival in India in 1998 and hence would regard the point “Take advantage of new Business Opportunities” as a driving force for me.
- What is missed is the reason “Have no other options in life”!!I am a B.Com, M.Com from Mumbai University which honestly is an education that is worth nothing. If I were to REALLY succeed, there was no way I was going to get a decent job in India with my kinda education. Hence Entrepreneurship was the ONLY way for me.
Now, while all this sounds goody-goody, the article does not focus on the negatives of starting up!
I would like to share my very STRONG personal views on why one MUST NOT become an Entrepreneur
- There is NO NO NO NO Guarantee of Financial security. You can go from being nicely financially comfortable to being completely broke in a few years.
- IT’S ADDICTIVE AS HELL. Worse than most other addictive substances out there (I have in my past karma experienced Alcohol and smoking). Once addicted, you can’t escape, even if it will ruin you.
- It’s a very SELFISH pursuit. Family, Friends and personal life all go to hell.
- In India, there is no support system, network, an invisible net (like the folks in Silicon Valley) who can help you while you struggle. That’s scary.
- Even the attempt of Entrepreneurship – which involves 1) Building a Business 2) Building a Team 3) Raising Money is like attempting to go up and down the Everest 3 times in a single go. Most entrepreneurs succeed at 1, 2 or 3 but its VERY RARE to get all 3 right.As a professional, you can either be GREAT at your job OR be great at flattering, pleasing people OR just join a Company that has no work, and you could do OK. On the other hand, being an Entrepreneur is raising your hand and telling the people in Rome “Hey!! Look at Me!! Don’t ignore me! I’m a Gladiator and I wanna fight all your beasts without any weapons”So, if you are planning to be an Entrepreneur, Good luck! If you are one already, then DOUBLE Good Luck!
Please share your views on the reasons For and Against Entrepreneurship? It will be nice to get different views!