Entrepreneurs are often confused about their venture’s lack of success. Haven’t we got rid of all the taboos and made entrepreneurship guilt-free and empowering? Not really. Instead, we have put in place new standards of what it means to run a ‘good’ startup. This drains entrepreneurship of much of its fun and can make it a very anxiety-inducing experience.
How about entrepreneurship without the pressure?
Don’t consent to do something you don’t want to do. And if other startups receive funding or get acquired, don’t hit yourself too hard. You should let go of expectations and stop comparing yourself to others in the ecosystem.
These days, startup freedom seems unlimited. A series of big acquires and reform revolutions seem to have effectively broken entrepreneurship shackles in India. The startup revolution post-2006, the recent Startup India initiative, and the ongoing emphasis on women entrepreneurship have combined to shape a society that encourages people to take risks and go for their dreams.
But are we actually taking risks? What are the societal factors that influence how we see entrepreneurship?
The fact is that startup myths continue to define how we approach entrepreneurship. Indeed, the ideas the Internet feeds us and that are passed from entrepreneur to entrepreneur have very little to do with what goes on in a startup.
Let me reveal a more reasonable and realistic view of entrepreneurship in India. There have been many changes in society over the past decade; changes that have utterly transformed the way we see entrepreneurship. Back in the 1970s and 80s, there was a classic familial structure – the stable job – and the morals of the time were dictated by one company, one career, and no risk.
Today, our culture is much more accepting of entrepreneurship and jobs in startups, and, as a result, there are far more startups these days. Between 2006 and 2016, I am sure the percentage of startup jobs in India rose by a considerable percent. And just as entrepreneurship and startup jobs have become more widely accepted, so has the idea of people freelancing and moonlighting.
But, in reality, people aren’t opting for entrepreneurship as much as one might be led to believe.
Even though it’s more acceptable to be an entrepreneur these days, it doesn’t mean everyone is taking the risk. Another reality is that entrepreneurs are not enjoying the entrepreneurial journey as much as they should be.
The entrepreneurship taboo
In today’s politically correct society, it’s not just casual entrepreneurship that’s acceptable. Startup-positive people tend to be unsurprised – let alone, scandalised – by the wide array of opportunities, funds, and initiatives that are out there. This leads us to another startup myth: that all startup norms have been extinguished and that there are no more taboos.
In fact, according to this myth, the real taboo these days is to suggest that there are unacceptable startup acts. Indeed, there are people who throw the very idea of co-founder, equity, ESOPs, confidentiality, trust and ethics to the wind.
One example of a current entrepreneurship taboo is external equity funding, which only started being regarded as a…