The Hardest Part of Being a New Entrepreneur

Entrepreneurship is tough but so is everything else in life. It is never easy to ace exams or ascend the career ladder or raise kids so why so much fuss about entrepreneurship being so difficult? It is my third attempt at startup business but it is different from prior stints as this time I transitioned from a corporate executive to an entrepreneur. The startup vagaries aside, I found one thing that makes this transition really challenging – an ability to take “No”.

Most of us have done well in school, career and life. We always got a pat on the back for acing an exam, delivering on a tight deadline or doing great things in life. Hardly ever our friends, peers or bosses questioned our judgment. In fact most of the time they were encouraging when we took up a challenging assignment. The more successful you are the more chances that people haven’t doubted your ambitions and abilities.

Turn an entrepreneur and everything changes around you! While most friends and peers will applaud you for your “courage” there will be a nagging suspicion if it is the right move. Does your idea have legs? Can you execute on it? The veil of positivity and trust is torn and suddenly a go-getter for the first time starts hearing doubts and “No” consistently. It can be demoralizing and emotionally draining for new entrepreneurs.

New entrepreneurs can get deterred in this environment of volatility and suspicion. The challenge is to overcome this phase and keep faith. It is easier said than done but certainly doable. Unfortunately schools don’t teach it and no one talks about it so it catches new entrepreneurs off guard.

It takes time to build a successful business. The road to scalable business is full of hits and misses – more misses than hits. The key is to enjoy small successes and build on them, and shrug off loses by learning from them. It tremendously helps to talk to other entrepreneurs, share openly and frequently with friends and friends, and find a mentor. Entrepreneurship is an immensely enriching experience. Immerse yourself in it to become a better businessperson and an individual!

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3 responses to this post.

  1. Posted by Sankha Narayan Guria on February 18, 2012 at 8:26 pm

    yes… true! my college is now holding an entrepreneur’s meet… i wrote about it, though its a bit mixed with my thoughts… but you can read that here
    http://thelimbeck.wordpress.com/2012/02/18/experience-at-the-taj-iit-conclave/

    Reply

  2. Good read. It’s been nice to follow your journey. Keep’em coming.

    Reply

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