5 Questions Everyone Needs to Ask Before Jumping into Startup Life
Entrepreneurs are driven by the thirst of the adrenaline and a true entrepreneur can go the distance to fulfil his desires. Their dream is difficult to achieve and they need to give in all they have to satisfy their thirst of the adrenaline. The conditions are dangerous. Owning a startup that runs well is a dream for many but not all people succeed at it. The startup life is intense, fast paced and can be as dramatic as you can think it to be. There are thousands of decisions to make and they might end up in success or failure. It is a like lived at the edge of a rope divided by minutes and seconds. Passion, hard work, persistence, teamwork etc. may go unrewarded at times but will be fruitful if you stick to it. It is not a game and it certainly is not for everyone. Before you jump in the startup life, these are the questions you need to ask yourself.
1. Are you willing to work your butt off?
Owning a startup is not as easy as it seems in the TV show Silicon Valley. You need to be ready to work all that and work your butt off. You need to step out of your comfort zone and do mundane jobs. You need to do stuff that you like and you don’t like equally. When you own a startup, you don’t get to choose and you are not immune to anything. Working at a startup means doing whatever the situation so demands. You will always be stressed by trying to satisfy inflexible and opposing forces.
2. How passionate are you, really?
It’s not about the passion to make buckets full of money. It’s about the passion to work and develop new things. It’s about the passion for doing what the startup is doing. You need to feel passionate about the job. If you don’t, you will not be able to innovate and will not have the grit and determination to face the inevitable.
3. Is the team killer?
In a startup, your team becomes your family. You don’t get to spend time with the people you love but with your team. You need to spend time with them socially and not professionally. Take them out to talk things and don’t be confined to a particular thing. The team should be able to do things that your startup wants you to do and those things must be done at ease.
4. Are the resources there?
There must be enough resources for the startup to operate comfortably. It needs enough funding to hit the milestone and stand out in the race for startups. The climate and the amount of resources you work with will dictate success as much as your skills and capabilities will.
5. Is there room to win?
The startup needs to exist in white space. You can’t just expect it to come out of the blue and be the next Facebook or Uber. There must be enough room for it survive. It needs to have a large addressable market to sustain new entry and enough room to get a good market share. There must not be chance involved. There must be surety. Taking calculated risks can be exciting but worthless risks can be demotivating.
This article has been contributed by Simmi Setia, Content Writer at LegalRaasta, an online portal for GST software, GST Return Filing, GST Registration, Section 8 company registration, Nidhi company registration, IEC registration.
About LegalRaasta
LegalRaasta is a technology platform to simplify legal and business related matters. We are committed to helping startups and small business owners in solving legal compliance related to starting and running their business.Our mission is to offer affordable, quick and automated professional services to clients. Through technology, we bring numerous government/ legal forms at one place and have simplified them to be fully understood by common man.
Our Services
GST Software
GST Return
GST Registration
Company Registration
File ITR Online
E-TDS Return Online
GST Return Filing
GST Registration
Business Loan
NRI Return
Revise Income Tax Return
Business Income Return
Bulk Return Filing
FSSAI Food License
ISO Registration
LLP Registration
MSME Registration
Patent Registration
Importer Exporter Code
Apply Trademark Online
ESI Registration
Copyright Registration
