After complete my schooling I got admission in engineering with the dream of getting a job in MNC. Working for a core company was the motto of every other Indian boy in 2010. But after 2010 India saw a significant change in the field of employment. It was the inception year of Paytm in India. While Flipkart, first Indian e-commerce company was already in running phase from 2007.
Moreover, the success of silicon valley companies boosts an entrepreneurial spirit in Indian youth. I was in the second year when I came to know about the word entrepreneurship, and yes it was a fantastic feeling to see yourself working on something new other than engineering books. I understand that what an entrepreneur does is not only helpful for him but country too. Most exciting part of entrepreneurship is that you can create jobs and help the nation in growing.
But there is also some hardship of entrepreneurship which no one tells you. So for creating awareness in youth here is the nine realities of entrepreneurship:
- Entrepreneurship is much more stringent than 9–5 job. When you do a job, then you have time for yourself but in entrepreneurship is not 9-5. It’s much more than that. There is a quote on this
Entrepreneurs are the only people who will work 80 hours a week to avoid working 40 hours a week.
- Looking for name fame and wanna to make your social media circle big and glamorous then It is not a right field which makes you famous, and there is nothing to show off. Try acting, singing, modelling if you wanna to become famous.
- Do you love to be surrounded by people then understand that people felt alone and broke in entrepreneurship? But yes few hustlers never give and try try try till they succeed.
- Ohh you have watched “wolf of wall street” last night, and now you fall in love with entrepreneurship. It was the scenario when “wolf of wall street” launched in 2014. Never aim for entrepreneurial dream after watching a movie. Come with a problem-solving attitude.
- I have an idea, and now I am going to start a million dollar company. But from where you get the money to start your business, I asked to my friend. I will pitch my idea to investors. It’s a myth. You can’t get investment by just pitching an idea. You need money for bootstrapping at least in 2018.
- Do job if you want to enjoy beer, night-outs or party with friends. As I have already mentioned, you will run short of time in this journey and need to quit few things if you are building an enterprise.
- A successful business requires skills (sales, technology & soft-skill) with an idea. An idea can’t make you successful in achieving your target. You need a team. And for working with a team, you should first learn the art of dealing with people.
- Another e-commerce on the business model of Amazon or Flipkart does not give you significant success. Market research should be done correctly before launching company. 42% startups failed because they worked on a product which didn’t have any market demand and this is the primary reason behind startups failure.
- Your best friend can’t be your long-term co-founder until he has something to put in the system. Either leadership skill or technical skill every cofounder should learn an ability which helps the system in growing. Having the wrong team increase the chances of failure.
Still, entrepreneurship is highly enjoyable for those who love Rollercoaster life. You can help the nation to grow, and country like India required the maximum number of entrepreneurs. But do proper research and first, understand entrepreneurship.