5 Secrets of Being an Entrepreneur No one talks
5 Secrets of Being an Entrepreneur No one talks in reality. Becoming your own boss is a dream for many. In fact, it became a true reality that each one of us likes to be our own boss leaving our routine job aside.
Being the boss of your life is always encouraged. starting a company of your dream. Starting a business that you always dreamed of. Start doing a small job that you started on your own. These all make you self dependent.
But what about the dark side of it. Have it is being told that you that we have a dark side that might scare you to be your own boss.
Yes, there are things that you need to know before you need to take the decision to leave your job and become an entrepreneur.
This is not the first time someone is warning you to think before leaving your job. Many have already informed you about the problems that may go wrong before starting a job. And also the things that are being faced by entrepreneurs.
We gathered the following 5 Secrets of Being an Entrepreneur No one talks in reality and they are in fact hard truth to face.
- There is a 90% chance of failure
If you are not aware of the fact that there is only 10% chance that your startup or business will be a success.
The survey that is done on the success rate of new business and startups reveal that about 90% of the startups fail within one year of its start.
Everyone gets inspired when they listen to the story of Facebook and Amazon or even Uber.
But these took place in the rest 10% of startups that become successful and there are other 90% startups that failed within a year of its start. So be prepared.
If you are not aware of these things start reading about the failure stories of startups. It is very clear from those stories that even the companies with huge potential in the idea. And the ones with huge investments from many companies failed to stand for long in the competitive market.
It depends on most of the complex things to make your startup success. It’s always true that your idea of startup and you business plan might look like a potential one to you. But it has to be accepted in the same way by the users and the customers and also by the investors. All these in addition to the market scenarios decide fate. Look’s so complex right?.
- It takes years
You must be prepared to sacrifice years of your time to make your dream a successful one.
Things will never move as planned and you need to work day and night for years to move to the dream goal. And believe me when you reach the target all the time you spent will be felt as worth it.
But even if you spend your years of time dedicated to the dream you started, you are not guaranteed to be on a successful path. You may sometimes lose or you lose forever even before you realize.
The time you spent might not even worth a penny if things go as planned and you sometimes have to start again. The worst-case to start from scratch again getting your shit together. This might irritate you, but you have to get yourself prepared for such scenarios as things will not always go as planned.
- Hard work alone won’t work out
Many keep saying that if you work hard you can achieve anything. Don’t get wrong from those motivational speeches. Hard work won’t alone make things good for you.
You need patience, dedication and sometimes luck also need to be on your side to keep things moving as you planned.
As it is already highlighted that the success of a startup is a complex thing that involves a lot of things. It is not that easy that working hard will pave the path towards success.
4. Learn Self Managing
You starting a business means you are ready to manage a team of people and your decisions matter a lot. And you will be making decisions that will decide the fate of the organization and also the people working in that.
Your normal decisions affect a lot and you need to control your emotions and your thoughts. And you have to think twice with proper knowledge before confirming on a decision.
Before you manage a group of people and the professionals you need to learn to manage yourself and you need to work on this.
5. You might not become rich
Becoming a rich person in a short time is just a dream for many. most of the time you even wish that you get a good salary.
There are times when most of the entrepreneurs take nothing home while managing the entire company. This is the hard truth. As you start working for an organization you realize that reaching the breakeven point is the biggest success.
This is true in fact that sometimes you have to go home with empty hands. Becoming rich even might never come near you.
This truth might make you feel surprised or even may make you scared. But as you are dreaming and planning to start your own company. You are supposed to know all these things and be prepared for the worst.
What most of the people suggest is that keep a B Plan always ready when you are going blindly towards something. Because we always say that
Things will never go as planned and you have to be prepared for the worst
5 Secrets of Being an Entrepreneur No one talks, in reality, is written with the intention to help you. This is not intended to scare you or to demotivate you. This is just an informative and educative purpose so that you won’t just fall into the wrong claims of others. It is intended to make you know about what is required and to make yourself prepare for the situations.