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Dark Sides Of Entrepreneurship Which You Should Know

Vikram Brahma has over a decade of corporate working experience. By profession, he is a Digital Entrepreneur, Blogger, Writer and YouTuber.

Introduction

There are two words that I like a lot. One being a multi-millionaire and the other being an entrepreneur. Many people would love to become their own boss and for that matter, they have to start their business.

Starting a business is not hard but managing and growing them is difficult. It sounds good that we own a company. But there are many unknown facts about this topic. Although I would love to tell anyone to start their business. But in this article, I am going to share some dark and difficult sides of being an entrepreneur. So, let’s get started.

You Need To Work Hard

The first and foremost part is related to hard work. Yes, if you want to start your own company then you will have to devote and work day and night. There is no substitute for work.

If in past you have put 70% effort in your job then for your own business you have to put 110% effort. In the beginning, when people start their company they remain excited but sooner or later they realize that it takes lots of sacrifice and work.

In simple words, it means you might have to work more than 12 hours per day. If you are not willing to work for at least 100 hours per week to establish your company then it’s better for you to go back and enjoy working for someone else.

You have to face failures

You have to face failures

You Have To Face Failures

According to the U.S. Bureau of Labour Statistics, it has been observed that almost 20% of new businesses fail within the first two years and 45% within the first five years. Whereas it has been observed that 90% of the startup in India fails within the first five years.

That’s why you have to learn to embrace failures. There are many successful people but if you check their history you will find they have failed on multiple occasions.

So, we can say that there are high chances that due to many reasons a new entrepreneur might fail. And even if they survive they continuously have to evolve themselves. Due to this high-risk many people don’t want to start and would be happy to work for someone else for thirty years.

Late Nights Will Be Common

When I used to work in an advertising agency, I have worked and spent many late nights. And actually, I use to enjoy it because I wanted to work and work.

Now I am a digital entrepreneur and I work from home. But today also I spend day and night learning and working. I totally enjoy every moment of it. But if you are not used to such a routine then you should know beforehand.

To start any business it demands total dedication and passion towards your company. To build your company you might have to work late nights on many occasions.

Uncertainty Is A Common

The life of an entrepreneur is full of uncertainty. What problems or difficulties one may face no one can say anything about it. For example, there was a time when we thought of starting rubber plantation in rural interiors. And actually, we did it. But later we got information that rubber plants were destroyed by wild elephants.

Although we knew about wild elephants but no one expected this kind of tragedy. The unique thing about elephants and rhinos is that if they like someplace they try to visit that place often. And we have to leave that plantation idea after this incidence. So, there are many uncertainties involved and God knows what all can happen next.

Be ready to handle pressure

Be ready to handle pressure

Be Ready To Handle Pressure

One thing which every new entrepreneur will have to face is called pressure. First of all, when you will start your journey most family members will be against your decision. In Indian culture, most parents want their child to be an engineer or doctor or a civil servant or teacher.

If you ask such parents to support opening a business then most of them will reply in negative. Till now it is not so good to discuss business in our culture.

Even if you will start a business then you have to face a lot of pressure from family and friends. And by chance, if there will be some losses then they will immediately pinpoint their advice to take a full-time job.

Conclusion

If you are thinking to start your business then there is nothing wrong about it. I have shared the above points to highlight what common difficulties entrepreneurs have to face to succeed in life. Remember if you want to succeed then stop worries about and focus on your work. And it has been said if you stick with your plans and embrace your failures then soon your time will come to succeed as a business owner. So, remember never underestimate your dreams and inspirations. Just go after and achieve it. May you all succeed as an entrepreneur.

This content is accurate and true to the best of the author’s knowledge and is not meant to substitute for formal and individualized advice from a qualified professional.

© 2020 Vikram Brahma

Comments

Vikram Brahma (author) from Assam, India on October 02, 2020:

Thank you, Centfie for reading and commenting on this article. I am happy that you found the content informative.

Vikram Brahma (author) from Assam, India on October 02, 2020:

Thank you, Eric, for spending some time and reading my article. Yes, even I also wonder but these are part of any entrepreneurship journey. Yes, even luck plays some role. But entrepreneurship is quite a journey itself.

Centfie from Kenya on October 02, 2020:

An informative and useful article to prepare beginners for the realities of entrepreneurship. Thank you

Eric Dierker from Spring Valley, CA. U.S.A. on October 02, 2020:

Interesting stuff here. I always wonder about folks who do not get this but still start a business. I think a significant factor is just plain old dumb luck or bad luck.