Do you prefer to be in a corporate job or be an entrepreneur? Even in 2021, this continues to be a question young professionals are asked often. The general tendency is to presume that a job is better than one’s own business.
Early days of career– Job or Business ?
I was attending a session on entrepreneurship recently and the facilitator was narrating an example in this regard, about the mindsets of people and what they think about being an entrepreneur. In the earlier days i.e. in the 50s and 60s, the moment one finished graduation, one was told to look for a comfortable job; for a simple reason, it will be easy to find a girl to marry. This has been the traditional approach to life; and continues to be for many people.
Even today, for most middle class families, the thinking is “Don’t go for a business, it’s very risky; look for a safe job instead”. Jobs give better pay and stability. It is a thinking which needs to change; there are many who want to break out and be on their own, but are scared to do so.
My choice of education made it preferable for me to be on my own instead of a full time job. I started by making films and now am also building an online learning platform for working professionals. I’ve been on my own for about 6 years.
Before that, I had a short stint as a corporate employee. While I did enjoy that because it gave me the exposure of working with teams and bonding with different kinds of people, I do not miss that work for a simple reason that I was being paid to do that; I didn’t have a choice.
Today, with a larger and diverse economy, specially after the advent of the startup culture, youngsters have a greater choice of starting their own business instead of taking up a job.
At the end of the day, one must do what they have a keen interest in and not do something just for the sake of it.
Entrepreneurship is like a relationship
Entrepreneurship is like building a long-lasting relationship with your business. One has to give it all one has. No business can be built overnight. It has to be built in phases, since even the best of businesses take time to get there.
We, in effect, marry ourselves into the business. In a marriage, we don’t just marry a person, we marry a whole family with all the pluses and minuses. The same goes for the business.
In my work, there were days when I felt like giving up. Due to the pandemic my filmmaking slowed down to a crawl, but it hasn’t stopped me from planning ahead and being ready once things go back to normal. The learning platform meanwhile took over as the key focus and kept me busy.
There is a common saying about business; “you either build it yourself or get hired by someone to build theirs.” Which one do you want to be?
For me, the answer is very simple- build your own business. The satisfaction that you get when you build something great and powerful will not be the same as when you do it for someone else.
Factors that help adapt to Entrepreneurship
Here are some factors that will help one adapt to entrepreneurship easily
1.Passion
Startup entrepreneurs with out of the box ideas are doing something extraordinary. This is because of their passion. It’s very important for one’s idea to come from within. When that happens the drive and the speed at which one moves to build the business is far higher.
When you are on your own, right from the time you wake up till bed time, you are only thinking about your business. The mind is constantly wavering with thoughts and ideas on how to build this business and what you can do next.
2.Confidence
Make sure you have thought through about idea before starting. Build your confidence so that you can take your idea to the next stage.
3. Risk Taking
Being in a business needs a willingness to take calculated risk. Understanding the options, weighing them out and taking a timely call is so essential.
4. Mindset
A Docu-series on formula 1 sport has the title “drive to survive”. If the drivers don’t build and sustain that competitive spirit, they will not be able to pull through. Likewise, in business, especially a new one, what will help one survive is the mindset and approach. One needs to have a competitive and perseverant mindset, that helps sustain and drive the idea and business.
5. Patience
Entrepreneurship is a long and hard journey and needs a lot of patience. It’s always easy to give up but harder to stay on and struggle. Struggling teaches us how to be grounded and humble. The negative thoughts and doubts keep coming back, but one needs to bounce back immediately.
6. Seeking and Creating opportunities
New technologies, like AI & Machine learning today, open up new opportunities. Like wise events and changes around us, like the pandemic, create so many new opportunities for entrepreneurs to come up with innovative solutions.
It is therefore important for us to look beyond our comfort zone and be innovative. Entrepreneurship definitely makes one very lonely, but it challenges you to think fast and out of your comfort zones.
So if you are still deciding about making career choices, think once more. Would you rather start your own business? It is a relationship which will be there as long as you want it to be.
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Very nicely summed up. I like the authenticity in the points that you have raised. Risk taking is the key as you have said. Said thing is the ecosystem is so unsupportive. Salaried people are so pampered with sops from banks. Ask a self employed or even a startup with a Rs 2cr turnover to raise money and question will be raised about the repayment capability (as there is no job).
Entrepreneurs like you do well inspite of being in this ecosystem… not because of being here.