Why are most people scared of trying entrepreneurship as a career option?

I believe everyone can be an entrepreneur. Just that not everyone’s personal circumstance are conducive for them to take entrepreneurship as a career option at all times. Sometimes, personal situations, including financial, physical, emotional, may need the person to be in a job. And that’s perfectly OK too.

Often career professionals switch to become entrepreneurs. And that’s OK too.

My view is that ANYONE can be an entrepreneur at anytime they feel they are ready. That desire to be an entrepreneur is heightened when they stare at an opportunity in an area they are passionate about. Most people however give up that opportunity… and do not take the plunge into entrepreneurship even if the opportunity is staring at them. And often that’s because they are not sure if they are ready for entrepreneurship. The fear is about failure. But the cause of that fear is often that they are not certain that they understand enough about different aspects of business to be successful. (Professionals usually have more of this fear than say student entrepreneurs. Perhaps because professionals may have experienced the complexities of business, which students may not have had an opportunity to.).

My advice therefore is that it is good to educate yourself about and experience different aspects of business. It is good to ‘prepare’ yourself for running a business if such an opportunity presents itself. Even if you do not want to start something of your own, an entrepreneurial mindset and orientation and understanding of business as a whole will be a great asset even in your job. Whatever that job may be.

An entrepreneurial journey will have failures on its way. And that’s OK. If you do not fail in the beginning of the journey, you will face challenges at some other stage of the entrepreneurial journey. There is no reason to fear failure or challenges. You just have to be well-prepared to estimate the challenges and to deal with them as and when they happen.

Author: Prajakt Raut

Prajakt Raut is the founder of Applyifi.com, and author of the book for startups - ‘Starting Up & Fund Raising’ Prajakt personal goal in life is to encourage and assist a 100,000 people to become entrepreneurs. _____________ Prajakt is the founder of Applyifi - an online platform that provides startups a 36-point scorecard and assessment report on the venture's investment readiness [www.applyifi.com], and helps them improve their odds of getting funded. Prajakt is also the founding partner of The Growth Labs, a platform where growth-stage companies get sharp, incisive advice from senior professionals and experienced entrepreneurs. [www.thegrowthlabs.in] Before starting Applyifi, Prajakt was the head of operations at IAN, founding member of a leading incubator, and the Asia-Director for TiE (2004 - 2007). Previously Prajakt had co-founded Orange Cross, a healthcare services company, and was part of the founding team member of Idealake Technologies. While in college Prajakt had founded a printing business and has spent over 10 years working in leading advertising agencies. Prajakt’s book, ‘Starting Up & Fund Raising’, helps startups understand an investor’s perspective, and helps them improve their odds of getting funded. The book also helps entrepreneurs understand the building blocks of a business.

One thought on “Why are most people scared of trying entrepreneurship as a career option?”

  1. And most importantly the (fear & risk) is so damn inversely proportional to the entrepreneurial journey…..the first is the toughest to start and after which it somehow magically gets easier along the way I guess (well wishful thinking for now……at least for me!) So really serial entrepreneurs have that one secret ingredient which makes a HUGE difference or shall we say, ALL the difference —-> (More start-ups in your bag = Lesser is that uncertainty & fear)

    Anyways Good Luck to all the entrepreneurs out there…..

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