Ep # 6: Why you should NOT Startup.

Are you contemplating a startup because it allows you to be your own boss? 

Think again. Are we really ever our own boss? 

Let’s find out. It’s time to have a word with me, Rajive Dhavan.

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Transcript

Are you contemplating a startup because it allows you to be your own boss? 

Think again. Are we really ever our own boss? 

Let’s find out. It’s time to have a word with me, Rajive Dhavan.

Over the years, I’ve interacted with quite a few folks who are tired of reporting to someone else. And that’s their primary reason to start something of their own. That’s their reason for taking up entrepreneurship. 

The harsh truth, however, is that when we get into entrepreneurship, we are actually reporting to so many people that it can be more taxing than one can possibly imagine. Picture this; you’ve decided to take the plunge. You’ve gotten into entrepreneurship. Things seem rosy from the outside. We all know that “Startup” and “hustle” have now taken up the role of being the perfect couple that everyone envies. But there’s more than meets the eye.

As an entrepreneur, you’ve got so many direct and indirect bosses. For instance, you need to keep your team updated on your strategy and plans. You’ll have a bunch of clients too. And each one of these clients will be your boss. You’ll need to take information from them and, at times, even take orders from them. It depends on what service or product you’re selling. But broadly, this is a scenario that fits the bill for almost all of us.

Then you’ll need to keep filing your taxes and maintain compliance on a ton of other things, from software to business licenses to so much more. So, the idea of being your own boss is nothing more than an assumption.

You could be an artist, a performer, a YouTuber, or a Freelancer; you’ll still have to listen to your audience and be connected with many people across various spectrums. You’ll need to oblige your audiences, your seniors, and those in power. And these people will be your indirect bosses too.

So, I’m not sure where this whole thing of “I can’t work under someone. So, I’ll start my own business.” ideology cropped up. It’s good in theory. But in reality, we all have to take orders. If we’re lucky, these orders could be enveloped in feedback and suggestions. 

Now that we know why one should NOT Startup, let me give you three concrete reasons that should drive a startup:

1. Starting up is tough; it’s lonely too. It’s a graph that’s full of ups and downs. So, the stronger the purpose behind starting up, the longer you’ll survive in the game. When things go great, which rarely do for a startup, anybody can be in great spirits. The true test of an entrepreneur or a leader is when things begin to go South. As cliched as they may sound, that’s when the fuel called purpose comes into play. But until you really get hit, you’ll not know what undeterred passion and purpose can do for you.
   
   
2. Then there are also those who say that they are not in this for money. These are guys from the other end of the spectrum. This is as harmful as someone without any passion or purpose driving them. Your Startup and purpose can only survive and thrive when you make money. And re-invest this money in your growth as a company. You can also continue to take care of teams and serve your customers when you make money. Else, you’ll soon need to shut shop. Please do not look at the new-age startups that are burning millions every day. They are playing the valuation game. It’s a long shot. But eventually, even these loss-making companies will need to make money. Ultimately, they will need to be profitable. They have the luxury of time, as they have huge investors backing them. But that’s not the case with every Startup. Most of them never really get any funding.
   
   
3. Finally, do it for “you”. Not because your friends are doing it. Not because that cousin of yours has made it big. Not because of all the frills you assume it brings along. Not because of those over-published news articles about millionaire startup founders. Do it to learn, grow and excel; do it for your happiness. 

So yeah, if you’re honest about these three things, you’ll head in the right direction for sure. You might still fail. But there will be a concrete reason for your failure. And it will teach you heaps. Over 95% of startups fail. But all 100% of startup founders learn a great deal.

I hope you liked this piece of content. If you did, please share. I’m sure you’ll positively impact someone. Thank you.