The unsightly truth about entrepreneurship

I am here to tell you, my serious friends, the harsh truths about the life of entrepreneurs .
Many would gladly trade boring jobs from 9 to 17 for the chance to become a businessman and to be their own boss, to promote their own enterprise and to observe its growth and prosperity. And how does Larry Kim look at it?

It was incredibly interesting and instructive to run Word Stream and take part in its transformation from a startup into a truly successful company. But in business there are definitely features that I was not warned about.
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Abandoning education will not turn you into the next Steve Jobs.

Many people mistakenly believe that if they threw off the yoke of higher education, they would be able to create another Apple. Leaving the university does not turn you into a millionaire - ask the boy working at TacoBell (it’s not that there was something shameful about working at TacoBell ... Well, unless you serve the morning menu ...)

The truth is that Steve Jobs and Bill Gates left school not to sit back and play League of Legends all day. Jobs continued to attend classes as a volunteer even more than a year after the official deduction (he says that calligraphy lessons have become an inspiration for Mac fonts and spacing). And Gates, even before leaving Harvard, had a plan to create his future company.



They were exceptions. Getting an education before diving into entrepreneurial ventures gives you a much better chance of a happy outcome.

And since we started talking about this: Einstein had no problems with mathematics - he was an excellent student and mastered the integral calculus by the age of 15. He also married his cousin and never wore socks. So maybe it's time to stop considering it as a reference.

You must sincerely motivate yourself

Just mentioning that in order to become a successful entrepreneur you need to motivate yourself will not be enough. You must be a person who pays taxes in January and uses flossing twice a day.

And you should really be interested in the world and strive to solve problems. When you start a startup for the first time, you are absolutely independent. Over time, you will be able to expand the team and call on the help of great guys, but first you have to act alone. So, you (and only you) will be a marketer, financier, PR director, head of customer service, etc. You will have to fulfill all these roles.

It is easy to imagine: it is the same as starting a business in the city of Stress. However, if your intrinsic motivation is strong, all of this can be a fun and exciting source of experience. Just remember that in your jazz band you will have to play all the instruments at once, and get ready for the difficulties!

You will not get rich - at least immediately

If your business grows and succeeds, everything is great! Suddenly, you have money, and in the eyes of dollars begin to run. At this point, the temptation to increase costs (after all, the purchase of Tesla will turn you into a superhero) and reward yourself for your efforts will be very great. But in reality, you need to feed and grow your business, using the money brought by them, and not to perceive the company as a personal nugget.

High-quality promotion is the path to a stable and profitable business, and therefore try not to indulge your desires and do a small salary. In addition, your worn shoes will completely go for vintage, and you can get all the necessary nutrients in Ramen (note: it’s impossible to fully eat at Ramen, but why not try it!).

Procrastination - death sentence

At school, procrastination is only a bad habit. Yes, it can lead to tedious night vigils when caffeine is injected intravenously, but at the same time the procrastinators themselves can keep up.

When you become your own boss, professors and managers stop breathing down your neck. You choose your work time yourself and change your suit and tie for sweatpants (or jeans, if you prefer classics). The space in your office extends from the nearest Starbucks to the home dining table. Such a lack of strict structure serves as a very dangerous factor for the prokratinators, who all start with watching another episode of “Game of Thrones” before returning to work. As a result, time is approaching one o'clock, you order food from a Chinese restaurant, and at the same time never get to brushing your teeth.

To begin to perceive my business as a real business — that is, to establish real work hours, to form a regime and stick to it — I needed to make a certain effort on myself. That is what allowed me to increase the staff and get going. No one will come to your team to hang around and revise the "Clinic". And if there are such people, then you definitely will not pay them for it.

Choosing a dream team is not easy

Creating a first startup is an incredibly exciting experience. But, although you can consider yourself 100% autonomous, you will probably find it difficult to get others to share your enthusiasm. Do not be surprised if your friends and colleagues will not rush to your team to make with you a magical journey into the wonderful world of startups.

At first, I was hurt when I couldn’t persuade my friends and colleagues to join my company. Didn’t they see how cool it was? I did not understand why no one wanted to quit and join me.

It took me a while to realize that I offered people to make a leap to nowhere . They had families and liabilities on accounts, and therefore many were not ready to take such a serious risk. I saw that I needed to demonstrate the strength of my company, and then they would gain confidence that this adventure deserves at least some trust.

In order to achieve real results that could be shown to potential team members, I set goals for myself and achieved them, developed my business skills, invested money in the company. Having received the figures confirming my statements, I managed to gather the necessary team.

Your pride can be seriously hurt.

The harsh reality is this: about 80% of enterprises fail, which means your chances are slim. Worse yet, your difficulties will be made public, because relatives, friends and acquaintances will constantly ask: “How are things going?” It is difficult to imagine how annoying it is.

Accept the fact that you can fail, but do not get drunk with it, but learn from your own mistakes. Some entrepreneurs had to crash several times before pulling out a winning ticket. To accept everything that happened and become wiser because of your failures, you need a certain submission, so leave your ego at the door.

Success has never been so sweet

Yes, it is difficult to be an entrepreneur, but the reward is very high. You were probably told how pleasant it is to observe the victories and prosperity of your child, but only by experiencing it yourself you can feel all the joy and satisfaction.

PS We recommend another useful article on the topic of work on yourself - 10 things that you should think about before quitting .

The author of the translation is Vyacheslav Davidenko, the founder of the TESTutor company.