The Secret to Being an Entrepreneur is not Mentioning it
We have heard so many successful enterprise stories that achieving such a triumph and starting your own business seems fairly easy. Tell someone about your job as an entrepreneur and they will most likely think that the wealth you make is already difficult to measure.
The entrepreneur culture that is broadcasted on media channels and is written about in influential newspapers rarely reflects the truth. Every leading business is seen as an overnight success. However, what many do not realize is that setting up and running an enterprise requires tremendous dedication, motivation and time.
Elon Musk, a billionaire and CEO of SpaceX has always talked a lot about what it takes to lead the global change. This is what he wrote on Twitter: “There are way easier places to work, but nobody ever changed the world on 40 hours a week”. He later asserted, that on average he works 80-120 hour weeks. Although Musk is undoubtedly a success story, there are long workdays and enormous amounts of effort behind every enterprise we see on TV today.
What is the recipe for having an entrepreneurial success story to tell
First things first, there is no limited edition guideline that will help your enterprise earn millions in a blink of an eye. The truth is that every one of us, as well as our ideas, is unique. We live differently and have our own lifestyles, even if it is believed that everyone is the same in the globalized world.
As a result, only the one leading the enterprise based on their ideas can shape the future of it. However, there are quite a few general findings that you should read through before kicking off.
Take the crypto industry as an example. Most of it is powered by the innovative nature of individual entrepreneurs, but the project itself is always completed by a large team. The idea the author themselves has to be humble in this case as he or she has expectations from the team and earning their respect is a priority.
According to this Bitcoin Rush review, even a small company can dish out a very successful product, but with small companies comes more socializing and a much better bond between the employees. In this case, the innovative nature of the individual entrepreneur that started the company was enough to motivate most of the team and create a solid product in the end.
If we see reviews of other similar products, we will see that the majority of failures come from inattentive programming or design, which is directly derived from miscommunication or lack of respect in the team.
Setting your expectations high will not be any beneficial
Besides the general public, many young entrepreneurs have misleading beliefs about the early stage of development. When something potentially fruitful is being created from scratch, the risks are quite high. One should not anticipate the work process to be easy either.
The majority of those thinking of turning their ideas into a reality estimate that after a month of working with a couple of friends in a cramped garage at parents’ house, the enterprise will certainly flourish.
The truth is that starting off is the most difficult stage and it is not even that short. Although it might include being based in a garage, it is not nearly as exciting as it might sound.
Already accomplished entrepreneurs often say, that taking this first step sometimes takes more than two years of hard work. Thus, one should always evaluate their current possibilities before becoming an entrepreneur:
- Am I committed enough to dedicate the absolute majority of my time to this project?
- Are the important ones, family, and friends supportive? Will they keep encouraging me to accomplish my goals once I actually start working on them?
- If not, do I have another emotional support mechanism? Can I risk relationships, losing friends and being far from the family?
- Am I aware of the long timeframe my enterprise might have? If yes, are there any events potentially interrupting with work in the upcoming 2 years?
Thinking about these questions is of utmost importance. Becoming an entrepreneur is not easy and being ready for challenges almost everyone faces at an early stage will not only help you but also those around you.
Be passionate about your ideas and believe in what you are trying to achieve
Probably you are not taking a small loan of a million dollars from your relative to build a luxury residential skyscraper in Manhattan. However, the idea you have is something you are enthusiastic about and that is what matters.
Dedicating so much of your time, energy while putting your relationships with the loved ones under danger is not worth it for something you do no feel truly passionate about. Think about the upcoming, roughly two years.
You will have to pull all-nighters, research and sometimes even be isolated working on only one thing. It should at least be worth a try, but if you are not certain about it, try to re-evaluate your plans. Changing the plan before you start executing it will be much easier than after some work has already been done.
But do not be afraid of being flexible with the vision
Your vision might determine the entire future of the enterprise. It is simply great if the strategy established at an early stage works until the end. However, this rarely is the case. Some believe that if you do not stick with a single agenda, everything will start falling apart.
However, the truth is that failures and changes will come and go a lot throughout this journey. It is absolutely natural to make mistakes and face your own defeats.
The important part is to manage them efficiently. Everyone, including successful entrepreneurs, is constantly experiencing downfalls, but we should not let them shape our actions. Instead, our failures should be used as learning experiences and motivators for future success.
Just like with minor or major personal and professional failures, pivoting your company’s strategy if there is a need will only do good for it.
Setting up a Twitter account might not essentially be the most beneficial first step
There is one big mistake young entrepreneurs often make and it’s often caused by the surrounding environment. Running an enterprise is something that will catch almost anyone’s attention. People love innovators and success stories. It is obvious that anyone with a tiny bit of ambition of achieving something as a leader has thought of it.
Unfortunately, instead of working harder and more importantly smarter, entrepreneurs sometimes spend more time promoting the product or service that does not yet exist.
They keep mentioning their work, attend relevant social gatherings and gain Twitter followers while lagging behind with the actual work. Not that the money and fame that come with success are not great, but setting the right priorities at an early stage will probably be more useful.