Extinguishing the Entrepreneurial Itch
By today’s standard, if you ask any random person that what does he want from his career then its safe to say that he would say that he wants to be an entrepreneur or he’s currently gaining experience and wealth from his current job so that he could one day start his own business. I guess not many of us have seen that one day come by for many. It's safe to say that majority of the people aspire to be an entrepreneur for all the wrong reasons possible. This entrepreneurial itch has been instilled in every individual by mainstream media. The new heroes in the block are the billionaires with minimalistic lifestyles and down-to-earth personalities. How ironic, that we appreciate the people who are rich and choose to live simple but we never ponder upon the fact that many never acquire excess wealth despite all opportunities and live a simple life. Well, that is a topic for some other day. We’re here to discuss the synthetic desire created by the 21st century of entrepreneurship.
The ‘Wanna Be’ Entrepreneur
This is the most common entrepreneur that could be found in every corner of the planet is the ‘wanna be’ one. A simple way to understand this thought process is to first establish the assumptions that these individuals hold into their minds. First of all, they take out hard work from the equation and consider that everything that happens around us is based upon only wealth. Second, they assume that entrepreneurs are basically lucky to have the wealth and idea at the right time so anyone could pull off this. Thirdly, they assume that the main motivating factor is wealth creation from the venture which seeds the idea and takes it forward.
To debunk this idea, a simple example is sufficient. If this was the case and this was how the world around us worked then I guess we should consider all sportsmen such as Michal Jordan, Shahid Afridi, Mohammad Ali, and Mike Tyson to be lucky? Never in their dreams, any individual would consider them lucky because you never get to see their end results (Wealth) but they're famous for the grind or process of work. Similarly, for an entrepreneur, it's never that one performance that can sum up his entire hard work. It's the countless hours that he puts into the business are seen as clerical work but many forget to consider the brainstorming sessions that he mindlessly conducts during his family hours. We only get to see the end results, which is unfathomable wealth but at the same time, there are innumerous battles that he takes on every day. Moreover, an entrepreneur never has any skill that is quantifiable but his struggle molds him into an individual that is a jack of all trades and master of his own venture. If he steps outside his venture world, then he seems like any other common person which makes creates this illusion that anyone can be that guy.
The Uncertainty
If I were to ask you that you have two paths in life. You have a chance to establish a simple life at the start and by the time you’ll gain experience in your skillset and will eventually make a decent amount of money. There would be stipulated hours of the day that you would have to put in and once you come home, you leave your problems at your desk. On the other hand, you have a route where you would have to work numerous hours, you won’t be able to be master of any skill but yet you would need to get a gist of it. There is no near sight of money yet but a simple gamble that can pay off in the future and if not, you have no safety net to fall upon. If you fail, you start from ground zero. Any sensible person would go for the first option but there a few madmen in this world that redefine what we do.
The uncertainty doesn't finish here, you as an individual believe that the idea would work but for any business to flourish you need an audience. For example, you make really good sandwiches and everyone around you vouches for that. Consider that 100 People have tasted your sandwich and your confidence enough, that when you open up any food venture, you’ll be successful. If that was the case, then their many examples where an excellent chef had failed in his own venture but did wonder for others. Moreover, do you think that if 100 people vouch for something then it's viable to invest in that? Well, you have to sell your idea to alien people and considering that not everyone would have your sandwich every day. You would need an audience of 10,000 people with varying frequency of visits to keep your business afloat. Even invincible brands like Starbucks or KFC have failed miserably in different countries of the world. KFC was rejected by Isreal and Starbucks was rejected by Australia. The irony is, Australia is one of the biggest coffee markets in the world and is worth $6 Billion. You can never find a way to know if your business would work even despite all the data you have in your pocket. You have to take that leap of faith. The leap of faith has a cost involved, which can scar you for life, and even if your gamble turns out to be right then you’ve missed out on the precious time of your life. You miss out on your children growing up, your parents aging, and many more life events.
So, you’re left with the question that why would anyone start a business or a venture if that is the truth? The real entrepreneurial itch is to bring a change for the people around you. To create a ripple effect that transcends through time and space. Consider these ventures, as institutions that enabled an individual’s growth which led to a country growing. If it wasn’t for these sacrifices, we wouldn't have the first option in the first place. Changing your own life is a by-product of an entrepreneur. Nature works in reciprocatory nature where you first give out to the community then the community conspires to give you back. However, the fun fact is that the main beneficiary is your children. When they see you go through option 2, they opt for option 1 subconsciously. I would like to end this essay with a quote that might compress what is ahead and how this world works.
“Hard times create strong men, strong men create good times, good times create weak men, and weak men create hard times.” G. Michael Hopf