Startupedia

The Budding Entrepreneur

Being an entrepreneur is never an easy task. To be a successful entrepreneur you need to understand the ever-changing preferences of the consumers in the market. You need to have a very deep understanding of the human
psychology. You should be open to change and proactive in nature. This is the key to long-term success.

Challenges faced by a young entrepreneur are immense, especially in an Indian society where the social cost of failure and the stigma attached to failure is very high. Lots of budding entrepreneur’s loose heart at a very initial stage of their journey, young entrepreneurs face these challenges day in day out.

However, the same challenges can be used to their advantage, for example, a young entrepreneur who starts out with nothing has nothing to lose at all, he doesn’t have a reputation to protect or a record to maintain. Failure is the only cost in itself is fair enough return for trying and not succeeding.

At the same time, a life of a young entrepreneur is risky not only financially but also socially. You start out young with a lot of risks and pressures while your peers are handling secure incomes of a 9-5 job and a 5-digit salary.

The standard of life in the budding entrepreneur’s year suffers during the starting stages. You don’t have the luxuries your peers have whether they are time-related or workload related which makes it hard to have a good work life and
your family life. This is the cost you pay to have a more comfortable future.

But life is too short for working for someone else’s dreams. Because entrepreneurship is living a few years of your life like most of your peers around won’t. This is to spend the rest of your life like the most can’t.
You never lose! You either win or you learn.

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