The Truth About Entrepreneurship
The Harsh Reality: 9 Out Of 10 Businesses Fail Within 2 Years
Why did you tap on this blog?
Wanna become an Entrepreneur?
But 90% of startups fail shortly after entering the market.
But does that mean you should not even give it a try?
No! don't worry, This is where losers are separated from Winners!
It will be good for you, if you're a winner.
But Entrepreneurship isn't only about making big money Or becoming The Next Wolf Of Wall Street.
It's something more than that!
If your sole motivation is chasing big money, entrepreneurship may not be for you.
Because you'll fail like 90% of the people.
Sure, it might give you Big Money Or Make you a Big Shot Billionaire.
But you must offer something significant in return for that.
- Entrepreneurship demands a willingness to make sacrifices.
- Entrepreneurship demands sleepless nights.
- Entrepreneurship demands a willingness to take huge responsibilities.
- Entrepreneurship demands a willingness to work 100 Hours a week.
- Entrepreneurship might hinder your personal relationships (If they're weak)
- Entrepreneurship can disrupt your social life.
- Entrepreneurship requires the readiness to endure significant losses.
These are just few examples.
An entrepreneur driven solely by the greed for money and fame cannot truly achieve their goals.
However Real Entrepreneurs are driven by PURPOSE and fulfillment.
There is a quote, or I’m not sure if it’s a quote, but I believe it’s worth sharing on this blog.
You Should Never Start a Company With The Goal Of Getting Rich. Your Goal Should Be Making Something You Believe In And Making a Company That Will Last.
-Steve Jobs
Don't Get Panic! It's Simple
You Create Value = You Make Money
You Create Huge Value = You Make Big Money
Entrepreneurship isn’t a path to easy money.
To make such sacrifices, one must be passionate about entrepreneurship.
Okay That's a Lot Till Now.
But Why Most Businesses Fail?
5 Underrated Things Which Matters a Lot
Sales
No Business Has Ever Succeeded Without Sales (Though it makes sense, it remains one of the most underrated aspect)
Preparation
When You Go To Start a Business, Have You Done All The Homework To Know About Your:
- Industry
- Competition
- Products
- The Profitability
- Customer Base, Their Demographics?
You Need To Know These Things.
Effort
It Is Not Easy Starting And Running a Business. IT'S HARD. If IT WAS EASY EVERYBODY WOULD DO IT.
Brains
- You Got To Be Smart
- You Got To Learn This Stuff
- You Got To Put In The Effort
- You Have To Be Curious In Order To Be Successful At Business.
Innovation
Innovation is the lifeline of any successful business, driving growth, differentiation, and long-term success. Steve Jobs, the visionary co-founder of Apple Inc., famously understood the power of innovation. He transformed the technology landscape by relentlessly pursuing groundbreaking ideas and products that revolutionized entire industries.
Jobs Once Said:
‘Innovation distinguishes between a leader and a follower.’
This statement underscores the critical role of innovation in staying ahead of the competition and shaping the future of business. By embracing innovation, companies can adapt to changing market demands, delight customers with new solutions, and ultimately, thrive in today’s dynamic business environment.
You do these five things Buddy and you'll be Okay.
Of Course This Blog Is Dedicated To New Young Entrepreneurs And Solopreneurs Who Are Really Passionate About Creating a Difference In This World.
Now that you’ve got the basics down, it’s time to dive deeper into the world of entrepreneurship. Remember, building a successful business isn’t just about following a set of rules; it’s about embracing a mindset of innovation, perseverance, and adaptability. Take inspiration from legendary entrepreneurs like Steve Jobs, who turned challenges into opportunities and transformed industries with their bold ideas. Stay curious, stay hungry, and never stop learning. With dedication and passion, you have the power to create something extraordinary and make your mark on the world of entrepreneurship.
I'll Be Watching From Afar And I'll Be Rooting For You.
Hi, I’m Gaurang. I write about personal growth, money, health, life philosophy, technology trends, entrepreneurial insights, captivating business case studies and invaluable book reviews. To catch my stories in your feed, consider giving me a follow and subscribe to my newsletter. https://medium.com/@gaurangsalunke0
