I have personally encountered many people running clueless in the rat race for the entrepreneur tag. The sugar rush, makes them start off the business is haste, without anticipating what lies ahead on their path.
Once they do kick-start a start-up, they get acquainted with bitter and harsh realities of what it takes to become an entrepreneur.
Here are a couple of reality checks commonly faced by entrepreneurs. It’s better to know how rocky the road is, to device tactical strategies for survival.
• Your Favourite Employee, Will Certainly Leave You
No matter how great the employee is, how well you bonded, how well you nurtured a personal bond; it will not last forever.
Any employee, good or bad, is bound to quit. Everyone has their personal and professional goals and aspirations. Don’t get disheartened when the employee you need the most furnishes a notice; it’s not the end.
Just take it gracefully, there is always a next better hire with new zest.
• Haunted By Loneliness
Running a new project sounds adventurous, but the dark reality is once you start off, the vigour fades in. You will often find yourself in isolation.
You will have many friends, who in spite of working in corporate understand you a lot less. Working from home is an add-on, it not only brings laziness and unprofessionalism but also leaves you lonely.
It is better to join co-working spaces or some networking groups to get a social circle and a healthy interactive environment.
• It Is Just Business, Don’t Take It Personally
An old employee left, a new client declined, competitors out-run and a many more sad issues were never your fault. Don’t take it personally. Many entrepreneurs blame their inabilities; they think they suck at it, and the people out there are mere enemies.
That is not the case. Keep your emotions out of business; none is personal rather it’s professional. It is not about being ruthless or insensitive; it’s about keeping the two worlds separate.
• A ‘Yes’ When You Don’t Want To, Is All right
In the initial growing stages, there will be many offers which might not be ideal, or might not qualify as your dream client or might underpay you. Don’t think much, just go for it.
A ‘Yes’ at times is necessary to get started. Remember, you will not be a beginner for forever. Once you get your foothold in the industry, you get the power to choose more frequently.
• Freedom to A ‘No’ Is Quite Arbitrary
Once you learn the art of saying a ‘yes’, you get the power of saying a ‘no’. You have the freedom to turn down projects which are outside the purview of your area of expertise.
It is good to emerge as a specialist to survive long.
• Your Pay Check Becomes A Struggle
‘Pay Yourself First’ is just good advice, in reality, it is difficult to meet such ends. When you have a lot many liabilities to pay off from employees to vendors, paying yourself becomes a far-fetched priority.
However, it is just a temporary phase. In case even after years of struggle you cannot manage funds, revise your pricing or the business model altogether.
• 40 Hours A Week, Is A Joke
Five days, eights hours is a wrong maths for entrepreneurs. Initially, your startup takes about 60-70 hours on a weekly basis. You need to build a proper team to really take a day off for your family.
Time management is a task you need to master with time.
• Be A Master Of All Trades
Gradually you will realise an MBA degree is no good in running a business. What is required out of you is to have a fair idea about anything and everything that relates to your business?
Be is Accounting, sales, marketing, content, tech-codes, etc. even if you outsource them. You need to stay updated to get work done from others.
• Bust The Stress Before You Get Busted
Managing your own business can really make you lose out your hair. It will stress you, exhaust you, frustrate you and push you on the verge of giving-up.
Stay calm, enjoy the pressure and not fret. Reschedule your days, detox yourself with a healthy lifestyle. Go for walks, yoga sessions, gym, meditation or just breathe deeply. You shall sail.
• It’s an external bliss
The feeling of satisfaction you get from your startup is unamicable. Down the line when you look back, you realise the amount of blood, sweat, tears, sleepless nights were all worth it.
It's a bliss! You can never thank yourself enough for having started it.
Step in, the entrepreneurial world is the stage, just go in all aware that all that which shines is surely not glamorous.
About the Author,
Cs Nimisha Gupta
has an unleashed zest for everything creative. Is a budding writer, inspired from coffee beans to pen down, when the world sleeps. It's not about the destination rather the journey. #MusicBuff #Coffeeholic #ChocoManiac #Trailblazer.. Affiliated with QuickCompany which deals in Company Registration, Trademark Registration, Trademark Search, MSME, Import -Export Code and Other Legal Activities.