Why you should not start a startup !!

Small piece of advice to my friends & fellow entrepreneurs

I was working in big company of 10,000 employees. I was doing coding, debugging, code reviews, compiling status reports and attending useless meetings. Only reason of happiness was getting salary check at end of month.

There was so much buzz about startups and people raising millions of dollars from investors. I was thinking that technically its not difficult to make something like Whatsapp or opening e-retail store.

One day, my great idea of starting own business was taking shape of business plan. All was set, we incorporated company, put saving into company account, hired ninja developers and started awesome product development. We were waiting for product to be finished and launched in market. We were sure that it will start selling like hot cakes.

Unfortunately, things do not go as planned.

We did lot of mistakes during startup journey and its bound to happen when you walk on unexplored ways. From my little experience, I want to share few reasons why you should not start a startup.

Money

If you want to build a startup which can raise million dollar VC investment like Flipkart or be acquired in billions like Whatsapp or bang in market with $100B IPO like Facebook, I would say its a great thought!! But don’t chase money.

Keep focus on making useful product and money will follow

Don’t start company for sake of just making big money. Build startup for creating valuable products and services so that people fall in love with your products.

Power (I am the Boss)

You may tag yourself with title CEO soon after starting company. It feels great to wake up next morning as top executive of company. But remember what Peter Parker said in movie spiderman —

Great power comes with great responsibility

In startups most difficult and helpless job is of CEO, which means Chief Everything Officer. Unlike in big company, here you are at bottom of hierarchy, believe me its true!!

It’s Difficult job, because you have to finish every pending work — from brooming to accounting, marketing, hiring and sales.

You are Helpless, because you have to listen to complaints of everyone but you don’t find anyone to complain about your problems (lucky if you have co-founder).

Your customers & investors will be THE BOSS and you don’t control lives of your employees like in big company.

Freedom

You always dreamt of working from anywhere/anytime and now dream comes true. You can start your day at anytime and close your laptop whenever you want, no one is there to ask you a question.

Avoid to be in startup if you are afraid of working more than 40 hours a week

Actually you have to work more than ever because now you are not working for someone else. Everything is so messed up. You end up working 80 hours a week and work is still pending.

Sundays are no more holiday and Mondays are no more scary.

Celebrity

Seriously?? I met with few people who want to do startup thing to become celebrity. Let me tell you, we only hear success stories and no one mention about R.I.P startups. More than 90% startups fail in first two years of operation and celebrity level success is far away for rest of 10%.

Chances of multi billion startup is less than hitting by lightening in storm

My first startup got shutdown within first year. If you are looking for name and fame then there are much better and easy ways available. Should I tell you? I think you can find better.

Don’t start a startup with wrong reasons. Only reason to be in startup is when you feel making this world a better place than it is today. Solve real customer’s real problem which no one else is solving or if you can provide better solution than anyone else.

Hit Recommend if you agree with me, write to me if disagree!

I would love to hear from you, connect with me on Twitter @pardeepg