It is interesting to note that the term ‘entrepreneurship’ is familiar to many. However, the sacrifices that an entrepreneur has to make to let his work speak for himself and his venture are not known to many. In a competitive world where fanfare and external show mean everything to most of the less knowledgeable guys, entrepreneurship is not all about going around with a trumpet and bragging about an organization’s diverse accomplishments. Every successful entrepreneur experienced desperate moments such as “Had I not embarked upon this road less travelled, life would have been better.” Taking this topic further, no entrepreneur can defy this generality- Entrepreneurs have to make sacrifices to succeed in their ventures.
Here is a list of sacrifices entrepreneurs make for their startups:
Entrepreneurship is an intensely strenuous task. No matter what you do to preserve healthy sleeping patterns, you are bound to sacrifice some sleep. Burning the midnight oil has become common for entrepreneurs. The future of your company is going to bother your mind. This is definitely going to take a toll on your health. Restlessness and fatigue are always on the cards. So, stay prepared to sacrifice your sleep.
Entrepreneurs lose their savings because they have to invest wisely in their startup/venture. There are countless tales of entrepreneurs relying on angel investors and sacrificing their dreams. A few entrepreneurs bank on personal funding and crowd funding. Sometimes, the founders have to live on a pittance for several months. However, entrepreneurs see a great circumstance – If one has nothing more to lose, then one has nothing to do but move forward in life.
Also read: 8 Qualities of a startup CEO
Balancing personal life and professional life is easier said than done. Entrepreneurs live in a world beyond normal entrapment of daily life. Sometimes, entrepreneurs end up working 70+ hours a week to realize their dream. To get novel and first hand ideas, one has to combine expectations with experiences. Ideas give birth to innovations. Entrepreneurship is all about innovation and ideation. Innovation and ideation are not anybody’s exclusive privileges. However, they are the privileges of professionals.
If you have been in failed entrepreneurial pursuits, your past is going to haunt you. Despite doing your best to exorcize the ghosts of negativity, you may end up being skeptical and pessimistic. It is important that you start believing in yourself. For first time entrepreneurs, entrepreneurship is all about embracing ‘go getter’ attitude.
What makes entrepreneurs like Alok Kejriwal remarkable is their ability to maintain a standard of efficiency and high degree of camaraderie. With entrepreneurial intelligence and exceptional managerial skills, Alok Kejriwal has been the brains in demand for his venture. He attributes his success to many factors such as healthy relationships, excellent work atmosphere etc. However, many entrepreneurs have to make significant changes in their lifestyle to facilitate startup endeavors. Relationships with your co-founders may backfire. While the co-founders of Flipkart have enriched each other, the co-founders of Housing.com sacked Rahul Yadav.
“You must be willing to make sacrifices at times, knowing that the outcome will be worth it”
Image credit: www.entrepreneur.com