It is possible to be an entrepreneur without being a founder of a startup. While both are startup founders … [+]
An entrepreneur wants to be his own boss. A startup founder wants to take over the world.
The boom in tech startups from Silicon Valley over the past three decades made entrepreneurship a very sexy profession. Founders of successful startups are treated like superstars and are without a doubt some of the most powerful people in the world.
This inevitably draws more people into the startup realm, and an unfortunate consequence of this is that it also attracts people who are not well suited to the startup founders adventure. You don’t have to be an expert to start a startup. In fact, anyone can do it in just one day. However, building a startup into a scalable and high impact company is one of the hardest things you can do. So, if you are not fit for the trip and you cannot enjoy the process, you can be burned out quickly.
However, it is possible to be an entrepreneur without being a founder of a startup. While both a startup founder and an entrepreneur create a new business, the main difference lies in the company itself.
A startup is innovative and scalable. Hopefully this combination means it’s disruptive. However, being disruptive is a difficult goal, which means that without a doubt, a startup is extremely risky. When you become a startup founder, the most likely thing that will happen to you is that you work harder than ever in your life. And then – you will fail.
Of course, being a new business entrepreneur is risky, but the real difference in risk is difficult to understand.
Entering a new traditional business is risky because you can stand out from the competition if your market isn’t booming and your competitors are doing a better job than you (or have more resources).
As a founder of a startup, you can fail for the same reasons. Additionally, you can fail because the market doesn’t need what you are building in the first place. There is no way to tell if people need what you offer unless you test the actual market. In reality, even if you get it right, you are likely to fail. To be successful, you must go through several failed attempts.
On the risk / reward scale, a regular job is low risk, and compared to building a scalable business, it offers low reward. Traditional entrepreneurship by a small in-house business is medium to high risk, medium to high reward. Startup entrepreneurship is extremely risky, but the potential returns are also extreme.
Making the right choice simply depends on your personal interests, values, and priorities.
If your goal is to be one of the makers of society and if you are obsessed with the business you want to build and the problems you want to solve, startups are your best bet.
If you want to be your own boss and have a higher cap on what you can achieve in life, but at the same time don’t want to keep failing until you can be rewarded for your efforts, traditional entrepreneurship could be a better way than innovative startups.
And finally, if work and stability are your life priorities, don’t forget that not everyone in this world has to be an entrepreneurship-obsessed hustler and there are many ways you can climb the ladder and make a real difference in your organization. and even the world.
Know that it’s okay to have your feet on the ground and have reasonable ambitions. The size of startups comes at a cost. So keep that in mind when you start working on your next business. However, if you can bear the cost of failure and the startup journey seems sensible to you despite all the difficulties, there is no better time to be alive than today.