Just blindly jumping into the sea without knowing swimming might be a risk. You might either learn to swim or can die. Same is the case with entrepreneurship. Starting something on your own might sound exciting but it is indeed highly risky. So, it’s better to learn a little bit of swimming before you make that jump! Here are a few things you should know:
You might not be successful:
Entrepreneurship is a risky game and you don’t win always. So, you should prepare yourself for any result. Don’t start a company with the thought that you will succeed. You might fail as well and there are more chances that you would fail. So, bear this thing in mind that the risk might not pay off. But, you will get a rich experience about business, markets and life.
You might have to ruin a few relations:
Remember the breakup in Pitchers? Well, you might face one as well. Getting into entrepreneurship means you won’t have a specific routine and there might be cases where you won’t get time for people.
You might also dream of starting a company with your friend and at some point in time, if something wrong happens, you might be at a risk of losing your friendship as well. So, be prepared to lose a few relations. You might not, but, there are chances!
You might go bankrupt:
You will have unstable financials for a long time. Your bank account might dry. So, you need to be prepared for it, mentally! There will be times when you might not be able to withdraw any salary from the business. So, you need to have some backup for that.
Getting funded isn’t that glamorous:
Getting a funding might seem to be an amazing thing. But, the bitter truth is, it isn’t. Because it’s not your money, you should be extra cautious while taking any decision. Also, you need to do a lot of hard work to get the money out of the VC’s pockets.
Sales will keep the show on:
You need sales to move your company ahead. The sales chart of your start-up should be growing. This will generate revenue and increase the stakeholders and customers confidence in your business. So, sometimes you have to do anything to get the sales, literally. But, never play with business ethics! Never.
There will be no holidays:
You might have to work on weekends. In weekdays, you might have to work for long hours. So, be ready for this!
Haters gonna hate:
There will be people who will hate you. People who will not believe in your idea. Just thank them and move on!
You might feel like quitting:
There will be a time where you might feel like quitting and getting back to the corporate. Well, it will take a lot of time for you to accept this change. It will all be hunky-dory. No schedules, no routine and no holidays!
Be aware of people:
In the journey of entrepreneurship, you will find lots of people. People will not be truthful to you. They might fake about helping you. There will be events when you will trust and lose. That’s how you will learn.
No matter how many challenges you face, how many hurdles you couldn’t cross, in the end, it will be worth it. So, if you have a dream, take a chance and work on it. Either you will get success or experience! Entrepreneurship is not easy, but definitely enjoyable.
