Talk that talk (an initiative by students of Ahmadabad University) organized “Gup Shup@ Venture Studio on ‘Why NOT Entrepreneurship??’”
This gupshup had many students, entrepreneurs & startup enthusiasts attending the event.
Kalrav Shah, founder of CloudTechy also participated in this gupshup and has a nice observation to it. Here’s what he has to say…
It was indeed a nice evening spent at Cafe Venture studio. Fun of meeting up old friends whom I know since 3-4 years in their early stage of setting up the venture can’t be compared with any other thing. I also had a nice conversation with the team interestship over a cup of ice tea whose services we are using this time for CloudTechy. Event was really nicely hosted and managed by talk that talk (an initiative by students of Ahmadabad University.)
It has to be interesting when entrepreneurs gather and discuss on the topic ‘Reasons for not being an entrepreneur’.
Sacrificing quality time : As a new entrepreneur you will find sacrificing your time with your friends, family, social life, hobbies and many such aspects of the life. Your new venture is more likely to consume your good amount of time and energy.
Uncertainty: You can put fancy figures in your excel sheet and do financial projection based on your idea but the ground reality is, ‘whenever you are starting a new business , uncertainty is always going to be there’. Entire process is about hoping for success but never knowing where things will turn.
Inconsistent income flow : If you are habitual to monthly pay cheques, this may cause a good amount of discomfort for you. I have seen months without earning any significant income and also there were months in which I had made more than my annual package in the job. In the beginning of your venture inconsistency of income is the only consistent factor.
Risk of failure: A friend of mine Avi Jain said it correctly that Indian parents may say to their kids , ‘Beta aaj se tu mere liye mar gaya hai’ ! Before starting your journey as an entrepreneur you should seriously think whether you are mentally tough enough to cope up with the stress of failure.
Personality traits : This happens many a time with geeks- techy people. If you are shy, calm, quiet and bit of introvert person you will find it tough to compete with a seasoned confident businessman.
Building your core team is a challenge: There are two things in the beginning . First the idea and second, the people who believe in it. Trust me , good programmers and marketing professionals are hard to find and even more difficult to retain.
Finding investment is tough: When you are working on turning your ideas into profitable business , consistent cash flow is inevitable. Many new entrepreneurs have difficulties in financing on their own. Pitching to an investor and receiving funding is not easy. Luckily at CloudTechy, from the very first day we were making money.
Looooong working hours: In job you are expected to work 8-10 hours a day normally. When you become an entrepreneur , you have to work for endless hours. Your ‘to do list’ goes on increasing with tasks and most of the tasks sound important and urgent. The days stretch on you and when you finally go home the work will also follow you.
It is advisable to work in a company for 1-2 years before starting on your own !
Originally posted at: https://kalravshah.wordpress.com/2016/01/19/reasons-for-not-being-an-entrepreneur/
Feature Image by Sneh Bhavsar