Entrepreneurship a capacity to create, innovate, and develop an idea, resources, product, services into a business and handling it with growth. Entrepreneurship requires a lot of motivation, correctness, energy, hard-working, direction, flexibility, adaptability to change, etc.
Life based on Entrepreneurship is entirely different from what common people are living today. Entrepreneurship is characterized by continuous study, research, persuasive approach, strategies and execution.
Entrepreneurship requires a lot of coordination, transparency, honesty, intelligence, consistency, tolerance, risk bearing capabilities etc. One cannot be certain about the results of the work.
Why People don’t like Entrepreneurship
People do not like to be entrepreneurs because of various reasons explained as follows -:
Lack of Great Idea
This happens due to not paying attention to situations happening around the person. One can generate a great idea by going back to their life and look into the difficulties they faced.
Further only thing they have to do is to find a possible and realistic solution for their difficulties. So, Problem plus solution can form a great idea to go ahead.
Another source of great idea could be your imagination. Using imagination to create something which can provide happiness to people can be one of the way to do it. So, imagination plus excitement provided could be a key towards a great idea.
Mentioning Lack of Money
Entrepreneurship does not require a lot of money in the beginning. One can invest even a small amount of money to start a small business which can be scaled into a big and commercial business or industry.
The myth of thinking that without money, one cannot do business is a biggest mistake making people incapable to become entrepreneurs.
Generally people involve in a lot of activities like job, family pleasures, enjoying with friends, hangouts, celebrations, attending marriages and birthday parties of all friends, relatives, etc.
Therefore most of their working times are absorbed in these activities and cannot extract their remaining time to give in entrepreneurship.
Fear and Lack of Confidence.
Entrepreneurship requires a lot of courage and confidence. But generally people are rigid over their daily life routines as they are repetitive, easy to perform and results are definite and predictable. This is entirely opposite in case of entrepreneurship.
Some people are not designed to be entrepreneurs. This is because general people don’t like to be in pain. They want to move towards pleasure. They feel comfortable by following conventional life approaches. Examples are completing schools, colleges and doing a job for rest of the life even though they hate their job. Further they are not flexible with their job profiles.
What things you can’t expect when you are involved in entrepreneurship?
Entrepreneurship asks a lot of sacrifice from your life. You need to forget your everyday normal routine life, watching movies, television, playing games, hanging out with friends, enjoying with family, attending parties and celebrations, etc.
You can’t have some expectations from life while becoming an entrepreneur. This statement is supported by following facts -:
Peace of mind
One cannot expect peace of mind in entrepreneurship process. Because, you need to perform a lot of task for longer period of time with great efforts with uncertainty of yielding results.
Also, while execution, the working of team, money, capitals also travels in the mind. So, one needs to simply satisfy themselves with the fact that they have good and intelligent team with good resources, so no need to worry.
That’s it! Rest other things and problems can be handled and dealt on time.
Safety and Security
One cannot expect this because entrepreneurship work is too much unpredictable and uncertain. Your efforts of years can come to an end due to unknown mistakes, changing market behavior, etc.
Also, giving priorities to entrepreneurship shifts your priority from current job which can be a threat to your job. As, a result at one instant of time, you need to leave your job. This again threats security and safety.
But however, from unknown positive situations and help of god, one can recover from such failures and losses. Only, you need to calm yourself and others by general motivational life facts.
One can least expect vacations in at initial phases of entrepreneurship work. Because, you need to work 24/7 with daily working hours ranging from 8-16 hours a day.
Whereas in a job, one can expect vacations starting from 2 weeks of time, once or sometimes twice a year. This highly depends on the type of job you are in. That’s why I may be wrong. But you can take absolute vacations.
A Stable Career
There is no stable career in entrepreneurship. Because of your continuously changing works from technical to non-technical.
Even if you took a successful exit from your business, then returning to the old job from which you exited before becomes very difficult. This is because your mindset has changed very much changed in terms of working.
After exiting the business, 2 things hover in your mind. First, whether to return back to the old job or second, find a new start from new business idea to enter into entrepreneurship again.
Moving back to previous job
After exiting your company, when you return to your previous job, people will question you. Questions are like why you came back, are you not able to implement things, etc.
In such situations, it is really difficult to answer as they cannot understand the real struggle involved in entrepreneurship.
In entrepreneurship world, even when you take vacations, then due to your strategic mind and in your free time, your mind continuously brainstorms. So, it gives you various ideas on improvement of your business strategies.
It creates a kind of win-win situation. That is, you are enjoying your vacation as well as indirectly working on your company also.
What are personal traits that you cannot be entrepreneur?
Above topic dealt with situations, sacrifices you are going to face while involved in entrepreneurship. Now we move towards discussing personal qualities, traits which you need to find in yourself to ensure that you are really fit to be an entrepreneur.
If you possess the following personal traits or qualities, then you need to work on yourself overcoming it. This can be done by changing friendship environment, studying more books, researching over internet, change your routine habits, etc.
Staying in comfort zone
This means doing repeatedly what you are doing which makes you happy and feeling safe. Examples are doing a job, getting good grades in a study, running a shop, etc.
Entrepreneurship works are entirely opposite. You need to carry out a lot of different technical and non-technical tasks. This involves designing of the product, marketing and advertising, hiring employees, setting up offices and workplaces, etc.
Considering entrepreneurship as a way to make quick money
This is wrong. Entrepreneurship is a long process as it involves failing multiple times and recovering from it. Standard time to make successful business lies around 4-5 years which is highly fluctuating.
It means lack of art of time management. Time management is necessary as typical working hours on entrepreneurship varies from 8-16 hours per day. Sometimes 18 hours per day. You need to prioritize your work based on importance and urgency.
Incapable of creating Marketing Strategy
If you are incapable to create market strategy, you hire marketing agents. But it is found that spend lot of money over them yielded negligible results.
Therefore, you need to yourself look into marketing strategies. You need to make sure that your product should undergo right marketing, otherwise people will not know it and its benefits.
Lack of Problem-Solving Capabilities
Motivation of entrepreneurship must rely on problem solving and not on earning profits. Because if entrepreneurship solves a big and genuine problem of people, you will definitely get profits.
But if you are prioritizing profits, then neither you are solving genuine problems nor you are getting profit. Problem solving ideas primarily comes from your life experience whether it is personal or professional.
Planning Without Action
Making plans without action is a poisonous approach. Because plans have no value unless you act on it. Because action yields result and plans provide a direction towards your action.
Getting Along with Everyone
It means you are following what others are doing. You are not giving attention to what is right and what is wrong. Just to ensure maintaining proper relationship with people to ease living, you don’t interfere or fight with people. This will hamper the progress. You need to develop some persuasive skills.