It's becoming a myth around the world and especially the Bay Area that starting a startup is the easiest ticket to the land of the billionaires.
The media has kind of sensationalize it, making starting a startup look like this easy thing were you launch product today, get users tomorrow and exit for billions the next week.
Almost all of us, intend to start companies mainly for the huge financial return we anticipate or some changing the world mantra we have chosen to follow.
While our intentions are good and our plans laudable. We might actually be treading the wrong part. Let's take a look at the following stats.
99% percent of business will not survive past five years of existence. And this implies that the founder get close to zero dollars for the time and effort invested in the busines. The emotional turmoil undertaking will be totally fruitless.
Billionaire entrepreneur and founder of LinkedIn, Reid Hoffman describes it as jumping off a cliff and assembling a plane on your way down. Another entrepreneur describes it as starring into the abyss and eating glass.
All this pass just one important message, Starting a business is hard and it will take everything you've got. There will times when the product isn't just working, some employees not just delivering on his role and most frustrating is the bank account is getting closer oh so to zero. And you will like just calling it off.
Micheal siebel, CEO of y combinator, asserts that starting a company should always be embarked upon in clear and objective intentions. He further said that entrepreneur thrives best with the underdog mindset. Always putting on the extra work needed to succeed in the industry.
Dustin morkovitz, co-founder of facebook and CEO of Asana encourages entrepreneurs to understand the game they are getting into and not be misled by the media hype and attention it is currently receiving. The media makes it look like it is this one straight process and you just party and drink booze. In the words of Jammie dammon, it's a jungle and you are constantly struggling.
So my last words to my fellow entrepreneurs, let's understand our motive and know that the journey might be difficult and sometimes you feel like giving up and it is often not as the media portray,there are down moments and there are moments when it won't be fun. Keep pressing,keep grinding, someday we will reap the benefit of we faint not.
Thanks guys