13 Jan Why few people dare to become entrepreneurs?
During one lecture, I was asked precisely this question: Why few people dare to become entrepreneurs?
My response caused a standing ovation in the audience: “Most people are looking for a secure fixed-salary job in a company made by someone – yet that someone never asked for the same thing.”
The answer to the question in the title is simple – fear of failure!
There is no guarantee that an entrepreneurial venture will be successful and as soon as there is uncertainty the fear of failure becomes dominant.
For that reason, I would start with the word – security!
Many generations in our region have been guided from an early age by their parents in the following way: “Study well, finish school, find a secure and well-paid job.” I wrote earlier that during growing up, the average child hears the word NO more than 150,000 times in the immediate environment by the age of 18. A child barely gets one YES for every 8 to 17 times he/she gets a NO. A child barely receives 1 praise or award for every 8 criticisms and punishments. A similar process takes place through schooling, because on home and written assignments, mistakes are highlighted with a red pencil instead of well-done assignments, and all that, of course, is followed by an assessment in the end.
Thus, most people, on a subconscious level, develop a pattern that reads roughly:
“Since my immediate environment pointed out so many times that I wasn’t doing something well, there were many penalties to confirm it, then it’s better to find a secure job with a fixed salary because that way I’ll be safer.” This pattern is written in the subconscious mind and many people are not even aware of it. However, the influence of our subconscious mind on our behaviour is much stronger than the influence of the conscious mind.
This was my path as well
When I got up the courage and opened my first company in 2008, I was in panic: rent, employees, accountants, equipment, taxes, inspections, laws, etc. Who can guarantee that I will have enough work needed to pay all these obligations regularly?
Then I realised that guarantees for a permanent job no longer exist. Employment contracts do not give me security but the results I make.
It took me a long time to realise that security was actually in me the entire time
Security is in my attitudes, skills, knowledge and ability to find all the necessary resources.
Resources are never a problem, the problem is our ability to provide resources
In an interview for the series “I, Entrepreneur”, I mentioned an acquaintance who had been talking for years about business ideas and the desire to leave a corporation, to become independent, but that day never came. He got so excited for one business idea and I never saw him so motivated, but our conversations always ended with – BUT.
One time I asked him:
“What’s stopping you, what’s the main problem?”
“I have no money.”
“How much do you need?”
“About 100,000 euros.”
“You can sell your flat. Become a tenant for a while, invest 100,000 euros in the business until you make a profit and buy a flat again.”
I well remember his facial expression after this sentence of mine and the question:
“What if I fail?”
“So money is not the main problem. The fear of failure is the main problem actually, isn’t it?“
You can watch the whole interview here: https://www.youtube.com
After this whole interview, the editor made short clips, occasionally posting them on social networks. On one occasion, he published this part, and I noticed a comment from a man who said: “Never do this, this is too much of a risk.”
This is the second biggest reason why we have few entrepreneurs – reaction of the environment
How will other people react if we fail? Will our value fall in their eyes? In addition, other people often warn us of the risks from their fears, that is, the facts that they use to justify why they did not dare to take that step. Many good business ideas have failed due to influences of the environment and risk warnings.
Not to be misunderstood, it is desirable to consider all aspects and risks in every entrepreneurial endeavour. I have never been a supporter of insane risk
One of the main characteristics of an entrepreneur is courage
Courage is the ability to embark on an endeavour without a guarantee of success. Courage is starting a project, finding resources, fighting in the market, fighting with the environment and succeeding. Courage is when we fall, get up again and keep moving. Courage is if we manage to keep our head away from the clouds, but stay firmly on the ground and become an even better person.
Entrepreneurship can be learned
Just as there are very few born leaders, vast majority are leaders who were created during their lives and coping with leadership situations, so there are very few born entrepreneurs. If you learn entrepreneurial principles, socialise with entrepreneurs, learn from them, you increase the probability that one day you will embark on the same path yourself.
When that moment of decision comes, I am sure that the question will echo from inside, outside or both sides: “What if I fail?” So please just get the NO out of this question and keep looking for the answer to the right question that reads:
And what if I succeed?