To be an Entrepreneur??
“Entrepreneurs don’t become entrepreneurs to work less.They become entrepreneurs and work harder.They work longer hours and usually for a lot less money.All to make their dream become a reality.”
We were seated in a restaurant in Pune for lunch and as usual the restaurant was full of people and their interesting conversations. A large group of youngsters in their mid 20’s was sitting besides us and I was able to hear their chit chat very loudly and clearly. One boy was complaining about not getting enough holidays from company for upcoming Diwali. Other boy reacted that it was high time that they should leave job and do their own work. Every time this holiday and boss nagging is an issue .We should all quit. On these some others reacted in support .Own work is no tension and they can take any time off. Job is so hectic and so answerable.”
I was really amused by this conversation and this is not uncommon. I have overheard my friends saying so frequently that I am so blessed to have my own business. Many people feel that owning a business means free, relaxed life. I guess such people forget that grass on the other side is always green.
Post qualification I have experienced and seen life of an entrepreneur closely and would love to share my experience of first generation entrepreneur.
Business is freedom to experiment with ideas, freedom to shape our concept. Business gives us the freedom to follow our conviction. Business is open sky in which we are free to fly. Business gives satisfaction of creation. Business means dynamic life.
Business needs courage , patience, hardwork, perseverance. From arranging basic capital to starting the venture in itself is not less than a war for some. Once the capital is arranged and work starts every day is a new battle. Entrepreneur must be geared to do multitasking. An Entrepreneur is expected to be jack of all trades and master them too. As business progresses and more employees are employed these roles get dispersed and reduced but every entrepreneur at any stage may be required to assume any role. Just like our own house work there is no excuse and no concession. E.g if receptionist is absent entrepreneur need to attend calls. Absenteeism of staff cannot be an excuse for hampering or stalling of work. Unlike service sector nothing is available at arm’s length -stationary, printouts, courier service, refreshments. Everything has to be arranged. Price of every printout, price of every stapler pin is crucial for owner.
Business is not only doing what one likes but all other things which come in package deal like office administration, office maintenance and repair, financial management, secretarial work, food arrangements, security arrangements, banking, and so on. Above mentioned are definitely supporting roles but main role as entrepreneur is a challenging and 24*7 commitment.
Shaping our ideas and making them commercially viable is cumbersome task.The idea should be feasible practically, commercially and technically. If the business is new it may take several years to gain momentum. A lot depends upon marketing strategies and economic conditions. Gaining success in business entails a series of success, failures, highs and lows. Morale needs to be maintained through all phases. There is no one to guide .Responsibility of every decision is on the entrepreneur.While the process is going on various statutory and legal compliances are required to be made simultaneously. There is no concession for crunch of time and resources for this compliance.
The ambit of work is so much that 24 hours are sometimes less. Entrepreneurship needs obsession.There is nothing like weekends .Yes breaks can be taken without anyone’s permission but then this liberty is seldom used .Such kind of work needs strong support of family. Family members including children of business families know how much crucial is every hour of work. Weekly offs, vacations, family functions get-togethers, fixed time of office are irrelevant. Work is always required to be given priority. Late nights, erratic schedules, irregular food habits, continuous phone calls are an integral part of lifestyle. There is continuous risk arising out of various factors related directly or indirectly to business activity. There can be extreme highs and lows in business. Each day is different and each challenge is unique. Staff welfare and their payments have to be given priority over personal choices at times. An entrepreneur has responsibility of families of all staff dependent upon his business. It is not limited to his or her family members but whole staff and their first family.
This entire process is enjoyed by entrepreneur because it is his dream and all this things are integral part of process. But people connected to him are required to make multiple compromises and sacrifices. Once business is settled, the latter generations enjoy certain benefits but risk is constant. Expansion of any business entails additional risk and pressures.
I know and agree that job/service is also not easy. I have been brought up in service family and I know there are positive and negatives in job sector too. Promotions, deadlines, office politics, top management pressures, boss management, transfers are there too. But fixed pay, bonus, fixed holidays more or less fixed working hours, different types of allowances and reimbursements are definitely plus point.
Business and service are entirely different incomparable avenues and one must choose as per ones appetite and interest. Business can be done only by those who believe in enjoying the process rather than fruits. Success, failures are temporary but the patience, the perseverance matters. Nobody is going to deposit money monthly in entrepreneurs account. Entrepreneur is responsible for earning each and every penny in business .External factors, employees’ cooperation, resource management and optimum utilisation by all play a major role in shaping future of any organisation. Direct relation between work and rewards cannot be put. So friends my point is business should never be considered as an option to job because of flexibility and absence of boss . What is important is that what makes us happy. It is a question of personal choice /dream over stability. Business is a lifestyle with an underlying constant risk.
To sum up
“Being an entrepreneur isn’t just a job title ,and it isn’t just about starting a company. Its a state of mind.Its about seeing connections others cant, seeing opportunities other wont, and forging new directions that others haven’t”- Tory Burch
