DARKER SIDE OF ENTREPRENEUR
In a world where entrepreneurship is looked up to and entrepreneurs are considered as game changers, it is indeed surprising that the world of an entrepreneur is not as glitzy as it looks from the outside.
Studies in recent times have now concluded that there is definitely a dark side to entrepreneurship and the new age entrepreneur. This could well include some or more of these:
STRESS AND DEPRESSION
The relative level of isolation that certain entrepreneurs face contributes significantly to an increased risk of contracting depression. They invariably tend to take the ‘Time is Money’ adage too seriously and thus scarcely leave themselves with quality personal time.
Thus it is not unusual to come across entrepreneurs who tend to sleep less, avoid leisure time and exercise and invariably indulge in unhealthy eating patterns. This invariably leads to an increased incidence of depression and even suicidal tendencies in entrepreneurs.
THE BURNOUT
Burnouts are relatively common in entrepreneurs. This is scarcely surprising considering the fact that entrepreneurs are under tremendous stress at all times. This could well be attributed to the fact that even the ability to pay the mortgage for the month could well depend on closing the next deal.
Concurrently spending time with the family may be a luxury that the entrepreneur may not be able to afford considering the fact that they need to keep working all the time .
SELF ESTEEM OR SELF WORTH
One of the common mistakes that entrepreneurs tend to make is to link their self-esteem to their market net — worth. This is more than validated by the fact that when they do well, their self-worth is at an all-time high. On the contrary when they face a setback their self-esteem tends to take a beating and their self-worth is invariably low.
THE TRUTH
Regardless of what your friends tell you and in spite of all those super success stories, the truth is that the odds of success are bleak. Statistics indicate that 95 per cent of start-ups fail during the first year of operations. This percentage continues to increase with every year.
The commonest cause of failure is wrong selection of industry or inadequate experience of the entrepreneur. On the contrary lack of knowledge of finance or inadequate managerial skills is the second commonest cause of failure.
CONCLUSION
Thus it could well be concluded that if you are contemplating moving out into the world of business you would well be well advised to understand the dark side of entrepreneurs and entrepreneurship and will need to prepare yourself both mentally as well as emotionally to handle life as an entrepreneur and the world could open up for you and your family.
