If you are an aspiring entrepreneur, chances are that at some point, you might have wanted to ‘be your own boss’. But here’s the thing – this is a false notion. Of course, when you’re an entrepreneur, you will be at the helm of your company. But this doesn’t mean that you won’t be accountable to anyone for your work. On the contrary, entrepreneurs face questions and challenges more than regular employees do. Here are some individuals to whom every entrepreneur is answerable.
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Investors aren’t called angels for no reason. However, unlike their celestial counterparts, angel investors are harder to please. Terms like good conduct and righteousness do not tug at their heart strings. But talk profit, sales, logic and ROI, and you’ve got their attention. The rules of the game change when you become an entrepreneur. You will face a lot of questions from different quarters, especially in the beginning; and especially from your investors.
Thanks to their ocean of monetary capabilities, investors are also called Sharks. Unfortunately, you are their bait. If they do not get regular updates on the status of their money and your actions to make it grow, they will swoop down your necks and demand their money back. At this point, your entrepreneurial gut will be thoroughly challenged, and your dreams will expose their vulnerability.
Clients are fragile beings. They are constantly looking for renewing their faith in you. They’ll question your business, your ability, your team and sometimes, even your family size, in order to put you in one of their three brackets—(1) Dependable (2) Undependable (3) Utterly undependable. Where you fit depends on the answers you give them.
If you are alone in your business, then you have to deal with the volley of business-related questions on your own. However, if you have a partner, then you can take turns to quench every curious inquiry. Sounds good, doesn’t it? Except for one small glitch—your partner will have his/her concerns, too, and you are expected to these as well. Such concerns could include whether to buy an expensive office or a cheaper one, which clients to accept and whether to go ahead with certain business models, among others. How you deal with these can determine the success of your partnership and your business.
“Why do you want to quit a safe job?”
“Are you sure you want to do this?”
“Do you want us to sleep on the road?”
“Do you know what happened to Mr. Sharma’s son when he left his job to become a chef?”
“Why don’t you get married instead?”
“Is this your age to become an entrepreneur?”
So many aspiring questions have been buried with such questions from their naturally concerned families. When you tell your family about your ambitions, be prepared for an onslaught of questions. Although they can get frustrating and pressuring, your family has every right to express their concerns. It’s only fair to hear them out and keep them posted about your developments.
Once your right answers get you through to the point where you start hiring, it can feel exhilarating. However, it will not change your role as an answer-giver. Employees are looking for something in your company, and you are the best person to provide them with answers.
The road is long and hard for an entrepreneur. It takes a steady amount of wit, knowledge and passion to stay ahead of the curve, and all of these will be challenged at all times. So be prepared!
(Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views of YourStory)