What we have observed is that many have failed to realise the subtle difference between true entrepreneurs doing things for the right reasons, and those doing it as an alternate career choice. Failure to understand this can result in disappointments and quick failures if you are becoming an ‘entrepreneur’ for the wrong reasons.
We’ve seen huge surge in the number of people wanting to become entrepreneurs. This could be due to the promotional efforts by agencies, especially by governments that get people excited and they want to to give entrepreneurship a shot because it appears to be the ‘in thing’. You will notice that many people will jump into the pool; some for the right reasons, but many for the wrong reasons. There is a lot of attention given to entrepreneurs, especially with sensational stories of people building successful companies and of huge exits. But what many people fail to write about is the trials and tribulations it took to get to that stage. The ups and downs that the entrepreneurs had to face in order to build their company.
One one hand it is a good thing to encourage entrepreneurship, especially at a young age. Small businesses are the core of many economies, and by encouraging entrepreneurship, you are inculcating a different mindset in the youth of the country. By encouraging people to try you are allowing for experimentation, you are allowing people to think out of the box, you are teaching people to take risks. So by having governments and agencies promoting and supporting entrepreneurship makes it a boon.
The part that needs a bit of tweaking is the mindset of the individual, especially for people who are looking towards entrepreneurship as an alternative career choice. Many fail to realise that you don’t just create companies from thin air. It takes a lot of hard work and a lot of determination to see your project through. You must be able to plough through the highs and lows of all the obstacles without losing focus on your goals, and you must be prepared for failure. There is a chance your project may never achieve fruition.
To be able to run the marathon, you must really have the passion and the right reasons for doing what you are doing. It is then only, that you will be able to last the full run and achieve success. To achieve this, there is a need to have a clear understanding from the start that the picture will not always be rosy. Learn to accept the challenges and be grateful for all the small wins, because every small win will keep propelling you forward.
Doing something for the right reasons will give you the motivation to jump out of bed every morning and to get to work.
“A company is born out of a bright idea, especially a very unique idea, which is then transformed into a business model and finally implemented as a business. This is the only way to create longer lasting companies.
The journey as I mentioned is never an easy one, and once you have found the right idea and the right business model – and if and only if you have the passion – will you be able to create the business and be called an entrepreneur. There is no shorter way, as you will realise from any literature you may read about entrepreneurship. You will discover this is the case with every entrepreneur you speak with.
They will not forget to tell you about this thing called passion.” – Mr Inderjit Singh: The Art and Science of Entrepreneurship