You have the idea, so why not take the ball and run with it. You can do the entrepreneur thing! No one else has the idea you have and you and your mom sure do think it’s great! The sales are going to come rolling in and you will be the next Elon Musk or Steve Jobs. You can already see the sweet life coming your way. If only it was that easy. So, how did Steve Jobs, Elon Musk, and other entrepreneurs who have ‘made it’ become so successful?
Let me put it this way if your primary concern is a consistent pay check you won’t make it. This is the time to see yourself out. That’s not a bad thing if that is not where you are in life right now. You aren’t going to be successful right away. I like what Forbes has to say about risk taking “As for risk tolerance, if you’re daunted by the idea that every day you’re basically starting from scratch (especially in the early years) and that it’s all on you to move toward the vision — you will not be happy being an entrepreneur. ”
The Stress is real
If you haven’t paid yourself in months and you don’t know how you are going to put food on the table you feel it. When a competitor steals your top customer how are you going to keep afloat? If you’ve worked 100 hours this week and are not sure what the payoff will be the stress will hit you. There is no denying the stress of being an entrepreneur. It really is feast or famine for most business owners.
On the flip side
When things are great they are really great! Not just good, or OK they are sky high excellent! It’s during those times that you know why you are in the business you are in. Even when things are not so great the reality is most entrepreneurs still derive more satisfaction out of being their own boss then working for someone else.
You will stumble and fall a few times before you figure it out. That is all part of being an entrepreneur. You may lose some money along the way and it may take a few years to pay your self. You risk failure. You learn from it, you pick your self back up and try again. You are after all more informed this time 🙂 If you want to succeed you must have the tenacity to keep moving forward in the face of failure. Otherwise, you really will fail. Guess who said this about being an entrepreneur “The reality is great highs, terrible lows, and unrelenting stress. Don’t think people want to hear about the last two” Elon Musk and he’s a billionaire. But he didn’t become a billionaire by throwing in the towel.
Will you turn that idea into a business?
Notice how I didn’t say can I said will. You probably can do it, but will you? Do you have the work ethic it takes to make that idea make you money? Ok, let’s say you have a great secret bar-b-que rub recipe. You get the funding to open up shop. So, you look around and find retail space in a strip mall. You figure you built it so they will come. You don’t do any marketing, you don’t attend any fairs no coupons to get people in the door nothing. Well, you didn’t turn that idea into a business because you have no customers. It doesn’t matter how good your recipe is. You did not do what it takes to turn that idea into a business.
Your grades don’t mean a thing
School is not the real world. Not even college. Not to say making good grades is bad. Obviously, it takes work to do. It takes dedication to earn the grades. It’s no surprise that people with that kind of dedication go on to have good jobs. However, they don’t go on to have the success of Bill Gates. They may work for him though. Entrepreneur has the top two reasons based on a Boston University study.
School teaches you to do what you are told
This is a great characteristic of an employee. I’m not saying you shouldn’t come up with original ideas but not making waves is a great way to keep your job. You find out what your boss needs and your provide that. This makes your boss look good and will hopefully lead to a promotion. You know what to expect. Often times entrepreneur’s feel very stifled by this because when upper management makes stupid decisions they just have to go with it. Being crazy successful is not as clear cut as a school curriculum.
A jack of all trades master of none
Entrepreneur’s zone in on what they are passionate about and they become the best. Steve Job’s did computers he didn’t do computers, clothing, accessories, cars, and bakeware he did computers. Thus, he became the best in computers and was wildly successful. As Entrepreneur states school teaches you to be a generalist. There is nothing wrong with that but it’s not how you become crazy successful in business. You become a great asset to the company which you work for and there is something to be said for that. However, you don’t do that for yourself.
These valedictorians did go to graduate school and land good jobs. However, nothing life changing came out of their careers. You know what the average GPA of 700 millionaires surveyed was? 2.9. Those really successful entrepreneurs don’t go with the flow they zero in on their passion and go with it. They go to the beat of their own drum and they don’t let anyone stop them.
There is a lot of glitz and glamour surrounding being your own boss. However, it’s not all fun and games. Most entrepreneurs never really turn off either. You have that luxury as an employee. In order to be successful, you have to fall down a few times to see what works. You have to be tenacious and resilient before you see the fruits of your labor. I think entrepreneurship is great but I recognize it’s not for everyone. But man, if it’s for you go for it! The world needs people like you!