A few days ago I came across an interview of a Bollywood actor, who is also a mother. When asked what career paths her kids would follow, she said something to the effect that these days nobody opts to be a doctor or an engineer. Of course this is just her personal opinion, but it gets one thinking. Surely, we cannot be heading for a time when there will be no doctors, lawyers and the like serving society!
These days the spotlight is on Entrepreneurship. While not too long ago, most people wanted to land themselves fancy jobs with fat salaries, which seemed to be a one way ticket to the good life. Then the crisis of 2008 saw tides turn. What was supposed to be a secure career path became insecure and doubtful.
Conclusion: Being your own boss equals being the master of your own destiny. But in all fairness, is it really that easy? Having secured a Lawer’s degree myself, I cannot help but wonder: Is dropping out of an institution in the middle of your course the way to professional nirvana?
Like when making any important life decision, asking yourself some simple questions before taking the plunge can help you gain perspective or at least get you closer to the right decision.
Is Your Passion Saleable?
“Find your passion, commercialize it,” said Chetan Bhagat in an interview.
Sometimes being good at something is one thing and being able to sell it to the world is another. Every passion or interest may not translate into a fetching business. Finding a passion and determining whether you can commercialize it is a good way to start. Arming yourself through education, practically and theoretically makes it easier to make the big jump.
Do You Have The Right Product?
For entrepreneurs today, Marc Zuckerberg is one of the greatest inspirations. But could it just be that Zuck was at the right place at the right time? Well one cannot berate success of this kind so easily. Facebook was a great idea that hit the market at the right time, to fill a void that was waiting to be filled.
Right time, right place and right product. The correct combination of these three ingredients is probably the recipe for success, if there is one. By the way, ever heard of Jumpbook, the Indian replica of Facebook? I am guessing the answer is no.
Do You Hate Your Present Situation?
Today most people seem saddled with jobs they are not crazy about. Serving in a job helps you gain the experience and capital to venture out alone while learning some life lessons that will only help you on your onward journey as an Entrepreneur. For most, their job is a means to an end, and if your job is reaching you to your end, well that is one reason to love it right there.
Discontentment and unhappiness are contagious. When you hear your peers cribbing it makes you crib too. Before you type that resignation, do figure if you really hate your job or if you’re just taking things for granted. The alternative to a job you do not like is not entrepreneurship. Start up because you want to start up, not as an alternative. Weigh out the opportunity cost, because whenever we make a choice there is always a loss, perceived or real.
Are You Bored?
With your work, with your life, with the same boring TV shows. Boredom is not a reason to start anything! Sometimes the boredom you face is internal, and will follow you wherever you go. Boredom is a state of mind more than a feeling. A good decision stems from a happy contented place, not from a point of boredom or discontentment.
The short-term goal should be to reach that happy place first, so that your brain is able to do what it does best – Think.
A Reverse Superiority Complex?
Do you feel that no one understands how good you are or appreciates your immense talent? In some way we all are guilty of having inflated egos. To an extent this is good, but an over-sized ego can lead us to lose touch with reality. There is a thin line between self-awareness and self-pity. Talking to well-wishers, reading other peoples stories gives us insight into ourselves and lends the perspective required to make a decision to start up.
As they say in life there is no such thing as a free lunch. If you wish to start up, do it for the right reasons. With a plan in place, armed with knowledge and experience you will not go wrong. And may I add, that degree won’t hurt either.