A wise person once said- ‘If you don’t build your own dream, someone will hire you to build theirs’.
What is it that entrepreneurs do differently and general people do not? Why the pioneers of Silicon Valley could subject their futures to risk while others could not? Are they more fearless than most people? Does the fear of not having enough savings in retirement do not persecute entrepreneurs? Is a steady salary any less dear to an entrepreneur than a normal person?
No! Everybody fears and everybody loves the security that comes with guaranteed and stable income. We, entrepreneurs, just choose to delay it; we choose to live life differently.
Tolerance towards risk doesn’t come easy
It’s not always easy to say ‘yes’ to a risk. The tolerance towards risk doesn’t come easy even to entrepreneurs. One has to build a temperament for it.
Risk is not an objective phenomenon, it is perceived. A person’s perception towards life defines what he/she is cut out to become. It’s our perception of risk which makes us decide on a risky opportunity.
I perceive losing most enthusiastic years of my life in working for someone else’s company far more risky than losing a 9-5 job. Not pursuing my passion and not starting my own venture would have been far riskier than getting consistent income and benefits.
An entrepreneur is willing to invest in the uncertainty that future brings. They bid on their luck and passion. They do not focus on loosing; they focus on not losing which can be gained. Myopic risks are less grave than the risks of lost opportunities.
Do you have the temper of an entrepreneur in you?
This goes to all budding entrepreneurs- to imbibe that risk bearing attitude, you will have to ‘start being comfortable with uncomfortable’.
A typical person would want to invest in his retirement but entrepreneurship is a risky plunge- the slope is not smooth at all. There are no guarantees of sturdy money, personal income and holiday benefits. You should be ready to let go of your safety net- your current job.
Every day will bring something new. You will have to try something different each day, change old strategies, work with new ones and then probably abandon those new ones to start anew. It’s a gut-wrenching journey, but with persistent work the results are awesome.
When you are faced with risks
My sense of purpose and immense desire for excellence drives my risk taking abilities. When you are faced with risks, ask yourself these three questions:
- a) What is the opportunity cost of not taking this risk?
- b) What am I risking by choosing to work lifelong for an employer?
- c) What do I risk by not putting myself out there to try my passion?
Based on these answers, choose your path. It doesn’t have to be risk-prone. To some the security of profit and income gets peaceful sleep at night, then to some sleepless nights while working for their passion feels fully satisfied.
Neither path is wrong. Choose what YOU represent.
Both ways, it is the balance between entrepreneurs and employees that holds our world together.