Is Entrepreneurship/Startup right track for you?

People have a myth these days that big dreams come in a package called Entrepreneurship/Startup! Why so??

Might be because when we hear about almost all the “rich + celebrated” names, they all come within Entrepreneurs orbit! But before stepping into this circle, think twice… or even more! “Is Entrepreneurship for me or am I fit for Entrepreneurship?” There are so many problems in entrepreneurship, which you might not be able to figure out at first instance! No… Don’t get me wrong! This blog is surely not to dampen your morale and dreams. Instead, you can consider it as an alarming blog! Opening a startup is a good option, but not always the best! If all things are not in their apt place and the place is not apt for everything – don’t shake hands with startup!

Is startup for me? – Question yourself before hitting the market.

Let me pour some light on the facts so that you can rethink about your startup decision:

Entrepreneurship/Startup Idea is the Ace of Spades

The first thing that should be there in your hand is a Startup Idea. Billions of brains are running today in this startup direction. Each brain is coming with one or more startup ideas. But only 1% of those ideas are getting the permanent shelter. Rest all just evaporate in a few months or years! The idea should be extraordinary and feasible as per market’s point of view. It is a fitter approach to build a present and future structure around your idea before implementing it on live stadium.

Feathers of Startup India are wounded

India is a developing nation, and industry is the biggest reason behind its fast growth. But if you will dig the history and status of the industry, you will find some eyebrow-raising points. More than 90% Indian startups fail even within the initial 5 years. There is an extended list of startups that fell from the top of Burj Khalifa!!! Even after investing a good amount, advertising through proper channels (including top Bollywood actors), they flunked ghastly! The vehicles of FranklyMe and Murmur (both were part of the first batch of the Google Launchpad accelerator program) also missed to reach the right destination – and punctured badly!
Similarly, several other celebrated names like Tinyowl, AskMe, Fashionara, Klozee are also in this unfortunate list!

Planning to turn your hobby into a profession?

Many people think that if they are enjoying their hobby, they can reach the heights if the same becomes their full-fledged profession. But as per Our Point Of View, a hobby is something that has a string connected with the heart. The stronger the connection, the more you would be able to deliver it in a better direction. Once you will turn that into a profession, chances are there that your interest might start fading. That might start seeming more like your regular work – boring and monotonous! Though it’s not a fact, but chances of this are very strong!

Silver screen is the major culprit behind the abrupt rise and early set of Startups

Usually movies show a person rises from rags to riches within a very short span through a startup. This actually gives false hopes to people, especially youths! These movies act like honey traps. But the truth is – real life is way too different from the reel life!

Dig a well of Investment, not a pothole!

Most people wronged the word ‘Investment’ with the amount needed to kick off a startup. But my market research says – enough buffer should be there in your hand. This will help you in covering the losses that your startup will face during its initial phase. Today’s big names like Flipkart, MakeMyTrip, Ola, Paytm – they all have their own struggle stories. But they not only entered the market with a brilliant idea and strategy, but also with a good buffer amount in their hand. This is the reason that they were able to withstand the losses during their initial innings! Therefore, it is suggested to have a buffer – both money wise as well as patience wise too!

Family comes first!

Normally a person don’t just earn for himself. Family is the biggest reason that motivates you to keep the good spirit up. So, if by chance you are the sole bread earner of your family, then getting hitched with a startup idea is a big no-no from my perspective! Therefore, along with money, family support is another big factor behind the successful roots of any startup!

Yes, many other factors also contribute to this list, but the above stated are those which are having massive effect. The soul of this blog is not to oppose the idea of startup. Rather, it’s about figuring out whether you are truly capable to adorn the startup world!

If all will start giving birth to startups, then who will be the employee? If all will become Manager, then what would there be left to manage? And we all are very well cognizant of the fact that how much work a manager does! 😛 So, if all becomes manager, then who will do the work???!