Why Can't You Be an Entrepreneur?

Recently, I had a fascinating conversation with Anson Wang, the founder of Job Store, who is in the process of preparing for a listing on the Australian Stock Exchange (ASX). Anson shared his incredible journey from the inception of Job Store to its current growth trajectory, highlighting that he has made numerous mistakes along the way. Interestingly, he mentioned that he can’t pinpoint which mistake was the biggest, as there were so many. This resonated with my own experiences, where business is often a series of lessons learned from mistakes. Success, in this context, emerges from persisting despite these mistakes.

The path of entrepreneurship is not for the faint of heart. It demands resilience, constant innovation, and adaptability. While it’s rewarding, it’s also a demanding lifestyle that requires consistently seeking new opportunities and taking calculated risks.

The Challenges of Entrepreneurship

There are several reasons why individuals might refrain from pursuing entrepreneurship. Firstly, it can be an extremely challenging and demanding lifestyle. Entrepreneurs must continuously innovate and stay ahead of the competition, often at the cost of personal and professional life balance. Secondly, turning a profit can be particularly hard for entrepreneurs. They must hustle relentlessly and take calculated risks that can be risky when they have regular jobs.

Lastly, many people believe that the entrepreneurial lifestyle is too difficult, or they question their ability to weather the storm of business failure. However, with the right mindset and determination, anyone can embark on the journey of entrepreneurship.

Common Obstacles for Aspiring Entrepreneurs

There are a few reasons why someone might not want to be an entrepreneur. Here are some of the common obstacles:

Constant Criticism: Fear of ridicule from peers can be a significant deterrent. The reality is that not all ideas will work, and sometimes, you have to make decisions with limited information. Starting From Scratch: Being okay with starting from zero is a crucial aspect of entrepreneurship. Entrepreneurs must embrace the possibility of failure and be willing to start over if plans don't pan out. Emotional Stability: The game of business is ruthless, and emotions can cloud judgment. Successful entrepreneurs remain unemotional and focus on the market's needs rather than personal feelings. Adaptability: The rules of the game change frequently, and being adaptable and persistent is key to success. Those who are not ready to accept these changes may struggle to succeed.

Entrepreneurship is not just about having an idea; it's about being willing to take the risk, learn from your mistakes, and adapt to the ever-changing market. If you possess the right mindset and are willing to face the challenges, you can indeed become an entrepreneur.