The Reality of Entrepreneurship
Entrepreneurship is getting a good rep lately. I was reading recently that many unhappy workers are fleeing the workforce and starting their own businesses. It sounds noble at first: your own company, your own hours, no one telling you what to do, right?
Wrong. Entrepreneurship is so much more than running your own ship. It’s about having a disruptive idea, making enough profits to stay afloat, and selling your business proposal to others willing to invest in you. Entrepreneurship may eventually have its glitz and glam somewhere down the road, but unfortunately, it’s a long shot for many.
This is not to put down anyone with big dreams of running their own business. I’m just saying that the leap from working for others to working for yourself requires plenty of pre-planning and forethought. It’s tough marketing on an idea or a new product, which is why a majority of new businesses don’t make it past the first year.
How one becomes a successful entrepreneur depends on many little steps taken along the way to accomplish this grand goal. It’s best to start with a business plan, to work with a mentor or an investor who believes in your idea, and then go slowly. All those headlines you read about newly minted billion-dollar businesses are few and rare. Their owners spent time – mostly years – going from a business plan to a marketable reality. Most times, their energy was spent selling their ideas to others, building momentum, and getting others with the money to stand by them.
For anyone thinking of quitting their jobs and going the solo route, take heed. The process is not as glamorous as it sounds or even looks, so you must have a plan B. If you’re thinking of going by way of entrepreneurship, good for you, but remember that there’s going to be a lot of bumps and heartaches along the way.