Why entrepreneurship is not for everyone and how to determine who’s entrepreneurship for? Entrepreneurs in simple words are business people. Many join this field due to various reasons such as lack of jobs, to achieve their dreams, or to make the world a better place. Also, most of these business people, while working for a company, could not achieve good results in the office.
Due to that reason, they prefer to start their own business. It is hard to be an entrepreneur and requires strong willpower to be a part of this field. It is also quite uninteresting and boring to be an entrepreneur. It requires a strong drive that may restrict laymen from entering this field.
Why entrepreneurship is not for everyone?
Time and Money
Entrepreneurs are not built in a day. It takes a lot of effort and time to be able to be as good as the other companies. Becoming an entrepreneur requires a person to have some money to start up his or her business. Many people believe that it is easy to make a lot of money by being an entrepreneur, which isn’t true.
Accepting Failure
Entrepreneurs keep failing very regularly. Failures lead to new learnings. But, if it’s hard for a person to deal with failure, it is another reason that adds to why entrepreneurship is not for everyone.
Time Management
Procrastinators and people who face hardships in time management should keep clear of this field. This is due to the volatile nature of this business along with the amounts of efforts that need to be put in, which are way more than any corporate job which people in these two categories would not be able to deliver to.
Strategizing
Strategy making is the epitome of entrepreneurship. Without a strategy, there are no goals, and without goals, there is no success. But this factor also comes with terms and conditions. Many entrepreneurs make plans but fail to execute them. Implementation and planning go hand and cannot survive without each other.
Responsibility and Accountability
Pleasing everyone who works for you is hard as an entrepreneur. Even research suggests that people who are more on the reserved side or are antisocial tend to be better entrepreneurs. This is because they don’t accept anything less than what they have planned. Having a persuasive way of communication also adds as a plus point to picking entrepreneurship as a field suitable for someone.
At the end of the day, we are all human, we all tend to make mistakes intentionally or unintentionally. But not all can take up being responsible and accountable for their mistakes. This is not for only the mistakes that they commit, but also take the blame for the individuals that work under him or them. The only person motivating an entrepreneur is from himself or herself while also motivating the people under him.
Risk Factor
Risk-taking is a daily scenario that every entrepreneur takes accompanied by fast decision-making. Elon Musk is one of the best role models or examples to look up to regarding risk-taking.
Psychological Side- effects
Entrepreneurship is not meant for anyone who is mentally weak. The pressure in this field on both the mind and the physical body is intense and could involve a series of breakdowns. Recoiling back to work after facing these events with the same passion and drive is detrimental for the dream to come true.
Conclusion
In short, entrepreneurship will affect one’s emotional levels, and to stabilize that is an art not all can perform. If one feels they can deal with all the hurdles mentioned above, entrepreneurship would be the perfect take for one’s plans.