Entrepreneurship is one big fad – fad because a lot of people enter into it for completely wrong reasons. Presenting Part 1 of N series attempting to demystify a few myths surrounding entrepreneurship.
Myth # 1: I will be my Boss
If going to office at a whatever-time-of-the-day is what makes you believe that you are your own boss, read on.
The most amazing part of entrepreneurship is the fact that you lose identity when you start up. You were the director at a MNC with a few vendors running for your time – and once you ditch all the cushion and start on your own – you will find yourself chasing the same vendors and running for their time (of course, relationship building counts here).
Infact, one of the most difficult part about entrepreneurship is not having a boss.
The lack of a higher authority to give you your next todo item is the single most-important factor that makes entrepreneurship so hard. In school, you have a clearly defined schedule and you have teachers who give you homework which provides something concrete to do everyday. Then they have exams, a definite end point of the whole yearly effort.
Nobody would care if you are slacking a bit, nobody would care if you failed to meet your targets, no body would care if your performance is falling month after month. Being self-motivated over a period of years non-stop is hard.
To those who want to believe in flexi timing part of entrepreneurship, let me tell you that you will have no time for activities beyond your startup – leave along flexi work timings. 25 hours (yes, 25!) a day, you will be worried about making things happen for your startup unlike a job where it’s just a matter of 8-9 hours. The breather here is that you can plan for flexi-fun activity at your will (if you are lucky).
» Forum Discussion: Work-Life Balance for Entrepreneurs – Oxymoron?
No doubt that starting up gives you the freedom to choose/decide (and live the consequence), but being one’s own boss is highly overrated. Once you startup, you will realize that you have too many bosses to report to – including investors whose money is at stake, including family who will keep poking with ‘Is all well with your company?”
In short, you are more answerable to the world when you are an entrepreneur vs. when you are an employee.
So stop thinking entrepreneurship as an escape from the boss!
Next Article (Myth): Entrepreneurship is for the courageous ones.