Why should you startup?
Ryan Bingham is a corporate downsizer — which basically means that he makes his living travelling to workplaces, conducting company layoffs and firings on behalf of employers. He was the character that motivated me to stop looking for a job, and think about starting my own venture.
Sounds weird? How does a guy, whose job is firing people, inspire someone to start something new and dangerous? Let me tell you how. In one of his meetings, right after he tells an employee that he is being laid off, the employee gets (understandably) upset. Decades of pouring his heart and soul for the company resulted in nothing but this layoff. Then, Ryan goes on an inspiring monologue, telling him to follow his dreams pointing out that he once had a passion for culinary arts and ends with a simple question — “How much did they pay you to give up on your dreams?”
Ryan Bingham is a character from the movie Up in the Air. You can watch the entire conversation here (Make sure to see the whole movie as well, it is amazing). This question shook me.
That movie worked for me. But, if you are one of the more prudent people, and want more reasons to startup, read on. You are about to get a lot more than just one!
Here are 8 reasons why you should startup right now!
1. You work on a variety of different tasks
When it comes to the number of employees you want to hire, you naturally tend to err on the conservative side. As a result, each person in your team (you included) has to do a wide variety of tasks. You get to wear many hats — even the weird ones that you assumed you would hate but end up liking anyway. The opportunities for personal growth are endless.
2. Your every action has a noticeable effect
In a startup, the culture you create generates a close-knit family of like-minded people. The work you do causes a noticeable effect on the fortunes of your startup.
3. You will get recognition
As an entrepreneur, you try to find an innovative and profitable solution to an existing problem. Instead of merely debating about issues, you focus on creating and implementing. This mindset is enough for people to sit up and take notice of you.
Take the case of CyberEye — a startup aiming to develop custom, low-cost cyber security solutions for the government and delivering world-class cyber security professionals through an end-to-end micro-level adaptive engine. Instead of complaining about the lack of skilled personnel in the field and debating over what others should do to address it, they took up the mantle themselves. As a result, they are regarded as one of the “25 most promising cyber security consultants in India”. They have already trained hundreds of professionals from ISRO, DRDO, CBI, Indian Army, Paramilitary and Special forces, Hyderabad Police etc. and trained thousands of students from colleges across India which includes IITs, NITs and many more.
4. The capital to grow is widely available
Not having enough money is no longer a roadblock to working on your ground-breaking idea. Gone are the days when you had to finance your startup with your credit card and bank account. If the idea is innovative and exciting, investors rush to fund you. Entrepreneurship is no longer a pet project of the select few; anyone regardless of where they come from, their educational background or work experience, can start up.
5. You learn to appreciate the importance and value of money
At your startup, you will have to run a very tight ship when it comes to finances. The money will never seem to be enough and you will have to constantly think of ways to do more with less. This thinking will undoubtedly bleed into your personal life as well. You will start living consciously. Instead of spending money, you will find ways to create and do things on your own.
6. You make friends and connections for life
Creating a million-dollar business is the ultimate test of courage, determination and resilience. Succeeding involves surpassing numerous obstacles which would make lesser men crumble and fall down to their knees. So, if you stick around long enough, you meet people just like you, who have persevered against all odds to create something out of their own ideas. This journey creates a well-knit community of people who go to great lengths to help each other.
When Paypal was purchased by eBay, the original employees found that they had difficulty adjusting to eBay’s traditional corporate culture. As a result, all but 12 of their first 50 employees left within the first 4 years. They did keep in touch with each other though; many of them even cofounded new startups with each other. This group of people became so prolific — and their startups so successful — that the term “Paypal Mafia” was coined for them. Visionaries like Peter Thiel, Elon Musk and Reid Hoffman are a part of this el
ite group.
7. You will have the time of your life
Few people take up the task of creating something from absolutely nothing. The ones who have done so know that even though the journey is beset with uncertainties, it is filled with fun and fulfillment. It is an adventure that they will remember for the rest of their life, irrespective of whether things go well or poorly.
If you are bored of the status quo, and feel that you have the idea that can bring about a revolution, then what are you waiting for?
8. Timing
Recently, a number of platforms, programs and organizations have come up supporting and encouraging entrepreneurship. These organizations reduce the risk and support your venture in multiple aspects from ideation to fund raising and scaling. iB Hubs provides end-to-end assistance to startups and has presence across the nation, making it easier for you to build, penetrate and scale across a wide market effectively. Also, with supportive initiatives from Government like Startup India and Make in India, now is the best time to startup.
Have an idea or working on a startup already? Apply here to get support from iB Hubs — ibhubs.co/startups/apply.
For more information on iB Hubs, visit us at ibhubs.co
In case of any further information or queries, feel free to drop in a mail at info@ibhubs.co
