It is amazing how popular entrepreneurship has become.
Back in the days, young people’s ambitions were bent towards the more “traditional” professions like medicine, law, accounting, engineering or banking. Not so today.
Entrepreneurship is the “in thing”. It amazes me how much of a buzzword it is “entrepreneurship”. I know I use it in a lot of my tweets when I have something to say, but it’s considered such a focus for a lot of NGOs and institutes and major conferences all over the world.
Why? Partly because it is easier than ever before to be an entrepreneur – the tools are available, and through the Internet- many hanks to social media-, one can access a worldwide marketplace. Also, let us not forget the enormous media hype surrounding entrepreneurs. Facebook’s acquisition of start-up Instagram for $1 billion certainly made enough waves for young (wannabe) entrepreneurs to notice.
The current economic instability, with its low job security and unemployment, has not helped either!
As a result, everyone believes they have what it takes to be an entrepreneur. come on. Really? To be fair, few things are as rewarding as being your own boss – investing your entire being into something that belongs to you and nobody else and, in the process, helping others. But is entrepreneurship for just anyone?
From the outside looking in, it seems fun, challenging and straightforward. In reality, being an entrepreneur is quite demanding, it is very demanding. It involves a lot of time, effort, energy and, sometimes, money. Not so many people may have the drive for the sacrifices and investments required in this domain to be successful. Unfortunately, most entrepreneurs fail.
What is interesting is that most people who want to be entrepreneurs are not even reliable employees themselves! Go figure that. If the virtues of hard work, commitment and loyalty are lost on you, how do you expect to build and manage a successful business? How can you rally your employees around your vision if you yourself have never learned the discipline required to follow a leader?
And then there are those who are incapable of taking decisions for themselves and following through with their decisions. Needless to say, this is a recipe for disaster, since entrepreneurs must make difficult choices and live with the consequences, whether good or bad. As many would-be entrepreneurs realize too late, there’s no room for dilly-dallying when an investor’s money is at stake.
There are also those who think they are qualified to be entrepreneurs just because they ‘think’ they have an idea – any “idea” to sell. Never mind that no one else is genuinely interested in paying for that idea. So they launch their business, and are genuinely surprised when they fail miserably.
The plain truth is that not everyone is cut out to be an entrepreneur. It takes a wise person to know this… or maybe not. You need to be determined, passionate, focused, and innovative to be successful in your entrepreneurship. Most of all, ready to not give up with the major setbacks that are on that road.
Carefully assess your own strengths before leaping headfirst into catastrophe.
Is working for yourself the same as being an entrepreneur?