Should I Become an Entrepreneur?
blogs.hbr.org
blogs.hbr.org
But, you may one day write an article for the Harvard Business Review.
Some people who would have made excellent entrepreneurs will never become one because their existing lives are satisfactory. However, they may still develop many of the same skills as an entrepreneur while rising up through the ranks of a corporation, which puts them in an excellent position to write business literature.
Others will never become one because their lives are hard and making the jump to starting a business would only make them harder.
For everyone else in the murky middle, the question remains. "Should I become an entrepreneur?" And if the answer is 'yes', falsestprophet's question follows: "Will I become an entrepreneur?"
Entrepreneurs are people who are risk-averse enough to try something new. The successful ones minimize risk by making calculated decisions that make sense.
Every entrepreneur has a unique story to tell, but not so unique that you can't imagine yourself fitting in to the stories of some entrepreneurs.
"Entrepreneurs are risk-takers that try new things. The successful ones minimize risk by making calculated decisions that make sense."
All this time he's been talking how he has been going to work on a startup, do something for himself. After his job finished I said to take a couple of months and get his head clear before launching into anything. It's now a couple of months later, and instead of coming back to me with a plan and some ideas, he's instead going to an interview with someone who rang him up out of the blue.
I'm not sure at this point whether to help overcome his fear or just write him off as a possibility to do something with. I had a couple of good things we could have collaborated on, but I think he is drifting back towards a job he will end up (start out?) hating. In the past this individual has built some tools and sold them on the side, has good networking skills and some good ideas. Personally I just feel he's too frightened to step out, even though they (as a family) are pretty secure financially.
So I guess what I'm asking is should I offer encouragement to step out, or just let him choose to walk back into another corporate job? Should all choices to follow an entrepreneur dream be self motivated, or does it sometime help if a friend gives you the 'it's now or never' speech?
If his choice weren't self-motivated, the first thing that would happen when adversity inevitably struck would be to blame you.
Seems to me the best encouragement you can offer is to have a heartfelt discussion, then leave him free to go wherever his inner vectors add up to.
No doubt there are limiting factors and risks in anything that you do, but I'd rather find those by bumping into them, not by cautiousness. I'd rather get a new paint job and win the race than lose without a scratch.
BTW, not sure what you meant actually, but it just brought out the thought.
It's like going to get a PhD without researching what that makes your life like, etc, just because you like ______ topic.
"Should I be an entrepreneur" is a good question to ask oneself before being one. It shows measured caution, which is evaluation of oneself before embarking on something. The mark of a successful entrepreneur is taking measured risks, not silly risks. Those who take silly risks are just accidental winners if they win.
The unwillingness to figure out if you'd be good at something before jumping in with both feet is a great way to show where you are on the spectrum of the Dunning–Kruger effect.
Funny, because that's exactly why I got mine. :) -It's worked out fine.
I think there should be an antithesis to the Dunning–Kruger effect: exceptionally-intelligent people don't achieve their potential, because their ability to see all possible roadblocks kills their confidence.
Bertrand Russel put it more succinctly: "The trouble with the world is that the stupid are cocksure and the intelligent are full of doubt."
Sometimes you have to dare to be stupid. :)
People shouldn't clamor for fog on the mountains they're going to climb to not get discouraged. They should develop enough self control to accept a challenge with eyes open. Then they know where they're stepping and can plan, as the mountain is in view, instead of shrouded in fog.
I mean, do you do brain research in a startup? I know I've been in my business for 4 years here after taking measured steps for years before that and it worked out fine.
The only thing that matters is getting out there and doing it. Find a way to create value and sell it.
Want to be an entrepreneur? Then be one.
If your goals are to become the next Mark Zuckerberg, Bill Gates, Larry Page, Steve Jobs, etc., the answer is 'no'.
If you're sick of your current job, want a change, and hate being a subordinate, the answer is 'no'.
So, when is it okay to turn your current life, and risk it all for what seems like a gutshot straight draw? It differs for everyone, but the motivator must be sheer passion for eliciting change and realizing a dream. Moreover, the dream must be for you; it shouldn't be for anyone else. If you're developing a product, develop a product that you yourself would back; if you aren't absolutely, unquestionably committed to your product, then it is my personal guarantee that no one else will be.
According to Illusions of Entrepreneurship, most entrepreneurs are in their 40s, not 20s.
Additionally, many entrepreneurs, (I believe it said a plurality) were entrepreneurs because they didn't like or couldn't work well under a boss more than any other reason.
[1] Non-aff link: http://www.amazon.com/Illusions-Entrepreneurship-Costly-Entr...
I had this discussion with a co-worker. While I think you shouldn't have hatred/distaste for your product or solution, I think it's more important that you have passion for helping your customers/clients in a good-for-everyone way. For this reason I'd ideally entrepreneur in the charity sector, because I have a passion for helping charity organizations.
There might be varying shades of grey to this argument. I'm a web application developer, and my co-worker would only pursue building ASP.NET websites related to his passion, music. Less extreme versions would be either building for any platform in any programming language, something music related. Or building ASP.NET web sites/services but not for music. Also varying definitions of "passion".
Being an entrepreneur doesn't necessarily mean doing a high risk internet startup. I think that for those with the character to do so it's a very good choice. Entrepreneurs aren't irrational people. I didn't pick entrepreneurship for purely fiscal reasons. I chose it primarily for personal reasons, although I do feel that my economic outcome will be better as well. I mainly chose entrepreneurship because I want to work for a company that shares my values and operates the way I think a business should operate. I'm 8 months in bootstrapped, (ramen) profitable, and proud. Perhaps that's not fiscally viable but we'll find out.
90% of business may fail within a 5 years, but how many jobs fail within 5 years?
Sure a job is 'safe' but I'm not a part of the growing culture that prefers safety at the expense of everything else. Life is about living, not avoiding death. I want to live my life to the fullest, instead of merely prolonging the inevitable a little longer. I don't think anyone sits on their deathbed saying "Gee, I really should have stuck with that safe job instead of risking it all on a startup". If your startup fails and you don't want to try again, you can always brush off the resume.
Perhaps it isn't quite that simple, but it's a nice story.