Recently, I read an article published on HuffPost titled 5 Reasons to Become an Entrepreneur and I thought, hey, why not share what we at IEDGE feel about being entrepreneurs, or technopreneurs in our case!
Image credit: opensourceway.
1. It’s exciting, and a little too exciting!
Like what most entrepreneurs around the world will tell you, it’s very exciting to be an entrepreneur! Think of all the benefits your products or services can bring to the ENTIRE human race! Oh, and also, think of all the possibilities that you can have for your products or your services! You decide what to offer, how much to offer, and at what price to offer! You, together with your partners, have the ultimate say here.
Just like you, we were darned excited when we first started IEDGE – namecards were printed, nights were spent doing up the business plan, marketing plan, and all those plans recommended by articles floating around the internet. Guess what our ‘plans’ were based on? Statistics? Nah. We were just started off, remember? We based all our ‘plans’ on sky-plucked figures. Unrealistic. If given a chance again, we would never spend so much time and effort fine-tuning our business plans.
2. More than just passion
Don’t believe those who tell you that all you need is to believe in your idea and be crazily passionate about your product or services. Remember to be doubtful especially when people tell you that you need to have a kick-ass idea before you can be an entrepreneur!
The thing we experienced is that after the initial excitement ‘faded’ and when reality starts to kick in, you will realise that it is almost impossible to survive just on passion. You might wonder, what do you consider as reality? Well, reality is when you will be hard-pressed to close that sale, no matter how small the deal might be, just so that you have the money to pay off your monthly rental or even to pay yourself.
Image credit: enerva.
3. It’s not that glamorous
Ok. Let’s be true. How many of you guys out there are thinking of being an entrepreneur because you think it’s cool? Or how many of you are thinking of starting your own business because hey, you can be the true master of your time? Or are you doing it because, OTHERS are doing it too?
Well, in case you don’t know, being an entrepreneur isn’t glamorous at all. Not all of us can be like Mark Zuckerberg, Jan Koum, Brian Acton, or even, Bill Gates. Even if we can, it won’t happen overnight – being successful takes a lot of effort, patience, and time. The media tends to only focus on those who made it, and very often, after they made it. Imagine the nights that they have to spend, and imagine the number of LV bags (not that these guys care), or friends’ gathering they had to forgo, just because they can’t afford both the time, and the money. When they know, the time and money, had to be spent on their business.
4. Be the BEST
We all thought we knew the formula to success. Actually, we were all taught the same method no matter which part of the world you grew up in, reinforced by our education system and society that to be considered a success, you need to be the BEST. Being the BEST acadamically means being in the top 3 of your class, your cohort, and even, your whole neighbourhood. Being the BEST could also means getting into the top 3 for the sports you play during tournaments, be it football, soccer, or even tennis. This is the same case as for being an entrepreneur. It would be perfect if you can the BEST in your area of expertise.
5. It takes much more than just being good
However in our opinion, it takes more than just being good, or even the BEST to be a successful entrepreneur. This is because if you are only good at what you know best and you can’t communicate well with your customers, employees, suppliers, investors and shareholders, and convince them that they should trust you, they are not going to invest in you or your company. When that happens, it’s useless to be the BEST as your skillsets aren’t going to be able to earn you your paycheck.