I’ve been contemplating this question for a long time:
While we all celebrate entrepreneurship (I blog on the basis of that merit), do we also look at its financial cost, consequences and most importantly LOSS of earnings for a person who jumps from a job to starting up (an activity which has a proven 98% failure rate)?
This question is also relevant in a Brave New World called India where GDP is the only one thing growing at a solid pace in the world and whose economy is always going to be offering a large quantity of quality employment.
Check out the table below. It compares (my projection) of conservative salary growths of graduates based on their skills and education as they grind through their professional life in India till age 40. This chart excludes government jobs and the ‘here today, gone tomorrow’ tech startups which throw money and unfortunately vanish. I am also not considering exceptional people (the ones you read about who get 1 crore starting salary on graduation day). This is a ‘yeah – I am in this chart/my peers are earning something like this’ kind of representation.
To question if entrepreneurship with a 98% failure is worth it, considering an alternate outcome that looks like this? This is also to provoke those people whom I meet who have started up (some for 3-6 years) and have never paid themselves salaries or their market worth.
What is the reason you would forsake hard cold money for something called entrepreneurship? I want to hear it from you!