7 Reasons Why Entrepreneurship Isn't For Everyone
Are you designed or destined to become an entrepreneur?
Entrepreneurship is not for everyone.
There might be people who are just cut out for it—right?
It may depend on certain inherent factors, like talents and gifts, environmental factors, and upbringing.
I firmly believe that anyone with a brain and a heart willing to learn can become an entrepreneur despite not being in the natural environment, having certain gifts/skills or having certain privileges.
Many experts, leaders and successful entrepreneurs believe entrepreneurship isn't for everyone.
They are correct. Entrepreneurship is a tough journey, and entrepreneurs are special people.
However, anyone with a brain and a heart willing to learn can become an entrepreneur or develop an entrepreneurial mindset, which we all need as people—common people—fathers, brothers, sisters, leaders, everybody!
Let me show you why entrepreneurship may not be for everybody.
Entrepreneurship Isn't For Everyone
Becoming an entrepreneur requires a very determined, bold, strong, intelligent, and, permit me to say, rugged person!
And when I mean "become," I am talking about entering all in into the world of entrepreneurship and succeeding in it.
Thinking about becoming an entrepreneur or entrepreneurship doesn't make you one. Keep that at the back of your mind.
There are people who have tried becoming entrepreneurs but never made it through.
They may have laboured for some days, weeks, months, and even years and at the end of their labours, they said, "Nah, this kind of life isn't for me." And they ran off! Away, never to return again!
Don't Fall For The Hype
The digital era. The age of social media has made a lot of neo-cultures popular.
The culture of entrepreneurship, especially, makes many young people think or assume that they can become what they see.
Don't get me wrong.
It's good to be inspired. But it's important to know what type of inspiration is meant for you.
Today, you want to become a bodybuilder. After two months, you want to become a project manager, a gamer, a software developer or whatever.
Most young people don't know how to choose their inspiration, and social media makes it worse with all the influencers, marketing and content out there.
The hype around entrepreneurship is wild, bogus and pretty unnecessary.
They are people who have the natural abilities to become entrepreneurs, and they are people who may not possess what it takes to become successful entrepreneurs.
That does not mean they are small people or that they won't become successful in life.
What most people don't understand is that success in life is not all about making money and becoming famous.
It's way more than that. Yet, again, this is another unnecessary hype or lie promoted by social media influencers and content creators who take the bar so high and make young people feel inadequate.
You don't have to start a business or your own company to become successful in life, and becoming an entrepreneur is definitely not the only path to success.
The Social Pressure To Become
Successful tech startups and founders have not made it easy for many young folks who have almost become blind to reality.
Now, every young person thinks they can go into tech and become like Mark Zuckerberg, Elon Musk or Sam Altman.
As I mentioned above, it's good to be inspired. But inspiration has to be directed at the right place. You can apply Elon Musk's story and principles to other areas of your life; it doesn't always have to be about starting your own business or company.
You don't have to become a freelancer or digital nomad to become successful. That kind of lifestyle isn't not meant for everyone.
When the success story of a celebrity founder hits the media about how they were able to raise millions and billions in funding, people become excited and suddenly begin to think that they can do the same.
Unfortunately, many of them are looking at the size of the money and not the entirety of the idea, the product, the impact, and how honest and authentic such founders are. So sad. There are promising founders out there, though; what disturbs is that it's now becoming more about the money, and this new culture is making young founders go the extra mile to perform, not minding whose Ox is gored.
More Than Just Making Money
Making money is a by-product of entrepreneurship. Let that truth sink into your heart.
The most successful entrepreneurs didn't start their journeys thinking about how much money they would make.
Their hearts were all about helping people. How could they change the world in their own little way? How could they improve the way people lived? That's what they were thinking about.
But you want to make a lot of money, buy houses and watches, drive big cars, go on holiday on the moon, take vacations out of space, and do all the things social media influencers make popular.
If this is what makes the foundation of your entrepreneurial pursuit, then I am afraid to let you know that you might never get to that point where you understand the true meaning of entrepreneurship.
Yes, they may have been folks who have come into entrepreneurship solely to make money; they may have winged it through and made money, but I can assure you that they don't have a purpose. Many of them will never last long. When I say last long, I mean survive ten, twenty, thirty, forty and more years in the entrepreneurial marathon.
Entrepreneurship is all about deep purpose. Before money, fame, and whatever comes after.
If you're considering becoming an entrepreneur, you must ask yourself some tough questions.
A Brilliant Idea & Plenty Cash Isn't Enough
Ideas are everywhere. Owning a forest does not mean you automatically have good furniture. What matters most is how we can turn those ideas into actual products.
The idea of entrepreneurship has been greatly romanticised. People approach entrepreneurship with robust decorative emotions. Well, after they get big blows here and there, the romance and emotions fade away, and reality stares them in the face.
To Be Free!
The media and neo-culture have glamorised entrepreneurship.
They have painted the entrepreneur as one who has seized control of their life, has their family close and is living the life.
The entrepreneur is free; he is his own boss, doing life on his own terms, directing his schedule and doing what he wants to do.
This may be true.
Yes.
But you must also consider that most of the time, the hard angle, which isn't very romantic, is always almost hidden.
The stress, anxiety, risks, and the sacrifice in time.
Nobody makes this aspect popular and decorates it with all the glamour of the lifestyle.
The entrepreneur is not entirely free.
They have only become slaves to their freedom.
Unless you've reached the pinnacle of entrepreneurship, like Warren Buffet, Jeff Bezos, Bill Gates and other magnates at the Mt Olympus of entrepreneurship and business who also had to go through the hard and tough stages of entrepreneurship before they reached their peak.
Seven Reasons Why Everyone Can't Become An Entrepreneur
Here are seven reasons why everyone can't become an entrepreneur.
After studying these reasons, deciding if entrepreneurship is your thing is up to you.
However, there are situations where one isn't ready for entrepreneurship because there are still many things one needs to learn.
Failure Isn't For Everyone:
Success isn't guaranteed.
You're not sure your idea or business will become successful or remain successful.
And they are people who can't stand the thought of failure.
They can't!
If they fail, especially when starting a business, it can harm their health and even existence.
They are folks who can harm themselves if their business or company fails.
If this is your type of person, I strongly believe entrepreneurship isn't for you.
Not having the mental fortitude to endure failure is a strong indication that entrepreneurship is not your strong suit.
Failure is the breakfast of entrepreneurs.
You need a unique mindset to see failure as an opportunity to get better, stronger and wiser.
In your entrepreneurship journey, failure will always come knocking. It will lurk around in the shadows, waiting for you.
Entrepreneurs are not afraid to fail.
Working every time, Every day and Everywhere:
As a starting entrepreneur, you will work like an Ox!
You'll work everywhere, every day and every time! I assure you. And if you can't do that, entrepreneurship isn't for you.
It's that simple.
Early-stage entrepreneurs usually do not have the luxury of work-life balance.
Their life is literally their work.
Is this you?
If it's not you, entrepreneurship is not for you.
Most people can't work like this.
It's not their nature.
It's not their gift.
It's not just who they are.
While there are people who can work anywhere, every time, and every day.
The Psychological Toll:
"I can't deal with all that psychological stress and trauma."
Entrepreneurship presents a distinct set of emotional and mental troubles. The entrepreneur bears the brunt of setbacks, failures, and immense pressure to be successful—alone or with your fellow founders if that's the case.
Working as an employee, your worries are limited to fulfilling your employee duties within a given time frame. And if the pressure is too much, you can quickly look for another job or even complain.
The entrepreneur carries their worry with them at work, in their house, in the kitchen, while driving, walking their dog, and everywhere they go.
They can't complain to anyone. Who's going to listen to them? Nobody but themselves.
Are you mentally strong enough to be this person?
Can you survive long carrying that amount of burden? If not, then entrepreneurship is not for you!
If you're fragile, weak and wobbly, it's safe not to become an entrepreneur.
Instead, remain an employee where you won't have to deal with a truckload of psychological stress.
Monetary Hazard:
Entrepreneurs know how to gamble their money (it should be an intelligent gamble).
You can become broke if your business doesn't live up to expectations. Are you ready for that?
Starting a business requires a lot of capital. Sometimes, you may need to take loans or bootstrap with funds from friends and families.
What if it doesn't work as planned?
Can you take the risk?
How long can you wait before seeing your invested money bring tangible returns?
Most people can't wait, so they prefer the employee path.
It doesn't mean they are weak or miserable. It's just what they are cut out for.
Responsibility & Decision Making:
Decision-making is your sole responsibility.
Nobody is going to make your decisions for you. And if you make the wrong decisions, you'll have to carry the results alone.
The weight of decision-making and problem-solving will be overwhelming, especially if you're the only one making the big decisions.
Most folks do not enjoy being the ones that make the big decision. It weighs them down and is scary. Instead, they will either follow orders and bask under the tents of good decisions or otherwise.
It's hard to make the right decisions. And it is harder when you make the wrong ones.
If you're the type of person who isn't big on making decisions for people to follow, then maybe the path of entrepreneurship isn't for you.
If you don't like being in front and taking responsibility for your actions and decisions, you may not be cut out for entrepreneurship.
Job Security Uncertainty:
The corporate world has a more stable employment culture as compared to entrepreneurship.
In entrepreneurship, the amount of money you make is directly proportional to how much work you put in and your level of innovation.
The stability in the corporate world makes it a better option for most individuals.
You might be in business one moment, and the next, you might be out of business.
The unpredictability of entrepreneurship is what many can't deal with. Most folks prefer a stable work environment where their job is secured and pay is guaranteed.
Entrepreneurship isn't stable. You can make more today and less tomorrow. Only a few people are built to live like this.
If you prefer the security that comes with a regular corporate job and don't want to have to struggle with the daily bustle and hustle to make money, then entrepreneurship isn't for you.
The entrepreneur's security is in how much work they put into their business.
Networking & Relationships:
Successful entrepreneurs know how to network and form business and leadership relationships.
It's part of their DNA.
You must learn how to form relationships that will help your business grow.
If you don't like the idea, or the thought of forming relationships with people for business and growth purposes makes you anxious, sick or uneasy, then maybe entrepreneurship isn't for you.
Entrepreneurs are in constant relationship-building mode with their customers, investors and even competition.
They know that their business needs these relationships to survive.
It could be challenging.
Draining and tiring.
Sometimes, you may even have to do things you don't want to do, especially when making the customer happy. You just have to do it. It's all part of networking and building relationships.
There may be people or brands you don't like, but because you're an entrepreneur, you must keep a business bond with them.
Building and sustaining relationships is demanding. We aren't all built for it. Maybe you aren't built for entrepreneurship if it's not your thing.
A Big “I Miss You Hello” to all my wonderful friends!
It’s been a while since I published on Substack.
This article was initially posted on Care City.
I have been spending most of my writing and publishing time there.
Well, I am resuming publishing on Substack, and so happy to be back here.
You’ll be getting more mails from me in the coming days. I have a lot to share with you.
Going forward, Unbounded will focus on technology, entrepreneurship (leadership), culture, and healthcare—the major areas of my writing (and even my academic and life focus).
If you haven’t subscribed, please do so; it’s free! I want to keep it that way for a very long time.
And even if Unbounded ever becomes paid, it will remain free forever for founding subscribers like you!
Thought-provoking. Thank you for sharing, Sir.