No, it isn’t. Entrepreneurship is not for everyone.
Entrepreneurship is about taking risks, solving new problems, working directly with customers, selling, marketing a solution, dealing with financial reports and legal cases, building a product that ends up being maintained by a small team turned into a company that keeps growing steadily.
It takes time, money (capital), and effort. It’s more exhausting and outright stressful as compared to a regular job.
Most people don’t want to bother building a business of their own.
Sure, they are tempted by the idea of:
- Being their own boss.
- Working whenever they feel like it.
- Earning 10x or 100x their regular salary.
None of that is even remotely true for 99% of the entrepreneurs out there.
Entrepreneurship isn’t a 9-to-5 job that comes with the comfort of family and friends time in the evenings, or traveling and watching TV over the weekends.
It’s an effort that usually requires a massive commitment and a multidisciplinary approach for handling dozens of activities at the same time, from branding through technology to accounting.
It requires an odd sense of curiosity and the inner urge to solve problems. It’s a competitive sport that isn’t comparable to being an employee of the month at the office.
Over 80% of the businesses fail. And most people have a very hard time dealing with failure. They also invest in mortgages, leasing cars, or other personal ventures that require ongoing capital on a monthly basis.
Those who are truly passionate about an idea and are willing to spend years validating it day and night and making it happen can jump into the startup ecosystem. But that’s a small chunk of the population that is genuinely willing to risk it all and spend their precious hours on hard work and burning the midnight oil.
Many possess groundbreaking ideas, but only some have the resilience required in the startup world. Resilience means adapting, evolving, and emerging stronger after setbacks. It’s facing challenges like a failed product launch or negative market feedback and pivoting with newfound understanding.
But remember, even the most resilient don’t journey alone. Behind every successful startup is a network of mentors offering advice, peers providing perspective, and competitors indirectly driving innovation. Lean on personal relationships, too—family and friends who offer emotional support during challenging times. They help refine your ideas and ground you amidst startup chaos.
Additionally, consider structured support from incubators and accelerators. They provide resources, mentorship, and a community of driven individuals. If you’re investing countless hours into your venture, such ecosystems can propel your journey.
While passion is your entry into a startup, combining it with resilience and a strong support network is essential for success. Equip yourself with these assets, and you elevate your chances of thriving in the entrepreneurial world.
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