"I don't think I want to be an entrepreneur"? - Just another average human being.

"I don't think I want to be an entrepreneur" - Just another average human being.

Being an entrepreneur is challenging. It's about putting your heart and soul into something you don't even know will succeed in the future. What if the business doesn't pick up? What if there are no sales? What if I go bankrupt!? Innumerable questions with multiple uncertain answers hit any individual considering venturing into entrepreneurship head-on like a double-decker bus. Digging deep from an uncertain individual's perspective would benefit little in an unbiased decision of whether a person should be an entrepreneur. It would be more profitable to zoom out and consider one's skills, interests, goals, and the potential risks and rewards of the venture.

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Entrepreneurship has become a popular buzzword in recent years, with many aspiring to start their own businesses and be their own bosses. As of 2022, India has more than 75,000 startups, indicating that the hesitancy to start a business has been dwindling in recent years. However, only some people are cut out for the entrepreneurial lifestyle, and that's perfectly okay! The multiple challenges entrepreneurs face can discourage any average individual from advancing into uncharted waters. These challenges include uncertainty, financial constraints, competition, and work-life balance. Uncertainty and financial constraints loom big as entrepreneurs often operate in highly dynamic and rapidly changing environments. They may need help to secure funding to start or grow their business while facing competition and the immense pressure to differentiate themselves from other businesses in their industry. Finally, work-life balance can be challenging to achieve, as entrepreneurs often work long hours and face significant pressure to succeed. Then looms the fact that about 90% of the startups fail miserably, adding to the constant stress and worry of making the plan work. Despite these challenges, entrepreneurship can be a gratifying experience for those willing to take on the risks and overcome the obstacles along the way.


Now that the prospective entrepreneurs have been briefed about the challenges, the positives can be addressed to turn a new leaf and get the hopes of an average individual up and running. Entrepreneurs are risk-takers who innovate and embrace their creative side. Think of an artist or writer and compare the same to an entrepreneur who uses their imagination and vision to create something new and unique. They use their common sense to think up solutions to existing problems and their ingenuity to see opportunities where others may not. The independence, flexibility and satisfaction of seeing their dreams taking off have been some motivators of entrepreneurs. Moreover, risk-taking is an inherent part of humans, which, unnoticed multiple times, is embraced by every single individual. While failure is a fact, multiple stories exist where entrepreneurs turned their pitfalls into glorious successes, such as Milton Hershey, Walt Disney and JK Rowling.?

Entrepreneurship can also be seen as a form of self-expression. They can create something that reflects their unique perspective and vision, and they have the freedom to shape their business in a way that aligns with their personal goals and values. By embracing their creativity, entrepreneurs can approach their work with passion, curiosity, and wonder, leading to truly unique and innovative solutions. As Dale Carnegie said, "Most of the important things in the world have been accomplished by people who had kept trying when there seemed to be no hope at all."


Despite these challenges, entrepreneurship has many benefits, including the potential for financial freedom and the ability to pursue your passions. So why do some people settle for an average lifestyle instead of pursuing entrepreneurship? Entrepreneurship requires a certain mindset and attitude that allows individuals to take risks, be innovative, and think outside the box. However, mental blocks such as fear, self-doubt, and a lack of confidence can prevent individuals from tapping into their entrepreneurial spirit ( Yohanna & Ridhowati 2019).?


By revising our thoughts and beliefs, we can identify and challenge the negative thinking patterns that may hold us back. This can involve asking ourselves tough questions, such as "What am I terrified of?" or "What's the worst that could happen if I take this risk?" We can see things differently and overcome our mental blocks by confronting our fears and doubts. Negative feedback and past failures can also contribute to a lack of confidence. Finally, some individuals prefer the stability and predictability of a traditional job or lack the passion and motivation necessary to start a business.?


Even though all the above remain, it's essential to recognize that not everyone is suited for entrepreneurship and that there are many valid reasons to pursue a traditional lifestyle. Becoming an entrepreneur can be tough and challenging, but it can also be gratifying. For those with the passion, drive, and willingness to take risks, entrepreneurship can offer a path to financial freedom and personal fulfillment. For others, a different lifestyle would be more suitable. After all, one size doesn't fit all. To be an entrepreneur or not to be an entrepreneur is a question that the typical average Indian would have to explore, identify and embrace.


Robert H. Schuller: "Tough times never last, but tough people do."

Dr Sunil MP

Assistant Professor and IQAC Coordinator for School of Commerce, Finance and Accountancy, Bangalore Central Campus

2 年

Nobody wants to be average human being ??

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