Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2019 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.

Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
The Dark Side of Entrepreneurship - Outside View by Pardeep Goyal

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks


Login Failure
(Please do not use this option on a public machine)
  Sign Up | Forgot Password?  

The Dark Side of Entrepreneurship
May 7, 2019

My mentor said, "Entrepreneurship is not for the weak hearted"

You need courage and the right mindset to survive & sail through the startup world.

Entrepreneurship is not for you if

  • You can get satisfied with a 10% salary hike every year
  • Settling in life means owning a house, car and stable job.
  • You love to discuss the topic of startups and say, "I will start my own company one day".
  • You think that money can be made by fooling people

You can earn money online without even leaving your job. But entrepreneurship is for people who are willing to take the risk.

Do you remember when did you take the risk last time? Any daring task to risk your job or money. Something like telling your boss that you can taking leave for two weeks whether he approves or not. Or putting investment in a stock when everyone was negative about the future of the company.

Because in entrepreneurship you have to take a risk with your time & money on a daily basis. People talk about entrepreneurship but afraid to buy a paid tool of $99 or hire a high-quality content writer or designer.

--- Advertisement ---
Here's How One Stock Gave its Investors 1,99,014% Returns

If one had invested just Rs 1,000 in Symphony Ltd. in 2001, he would have made Rs 20 lacs by now.

What's interesting is the fact that this company earlier filed for bankruptcy in 2001-2002.

But its able management made a significant turnaround and in that process made their long-term investors holy rich.

Successful turnarounds are rare but Richa seems to have found one.

While no one can guarantee returns on any stock, she strongly feels this recently recommended stock has a long way to go from here.

Just in 5 years, this company's net losses have turned into double digit net profit margins. And that's just the beginning.

If you're someone who can look beyond the history and want to spot the rare plays then...

This could potentially become your once-in-a-decade opportunity to make money.

Entrepreneurship is a lonely journey.

  • You can take the expert advice but take the final decision based on your own intuition.
  • You have to fail often to get success once.
  • You can't blame others for your failure because you are the end responsible person.

Entrepreneurship is for brave hearts

  • You have to be mentally strong
  • You won't raise money overnight
  • You should know how to save money on every expense (like a Baniya)
  • Your co-founders may leave you mid-way
  • Your potential investors may ditch you after promising to fund.
  • Going near cashless becomes routine (be prepared for inconsistent income)

You know it's not an easy journey. You have to bear a lot of pain.

It is scary to leave your job and follow your passion. I followed my passion and started writing about saving money by using the best credit cards.

We hear success stories of startups, but no one tells us how many failures are buried under that success.

"Remember, with every failure you are adding layers to your mental strength." - Richard Branson

Side effects of Entrepreneurship

#1. Frustration

Frustration hits you like the monthly mobile bill. Every month we plan something great but plans fail often. We can't avoid the frustration of failure, but we can learn how to handle it.

#2. Insecurity

You doubt your decisions many times. You won't find anyone to help you out. This is a side effect of becoming your own boss. You can't ask for directions all the time, even if you have mentors.

#3. Self-worth issues

You doubt yourself. After continuous failures, you start feeling like you aren't worthy of anything. Persistence and perseverance are keys to tackling such a situation.

#4. Addiction to work

This happens with almost every entrepreneur. Addiction to anything has an adverse effect on life. It's even possible for someone to become addicted to smoking or alcohol after starting up, as they use it to alleviate stress.

#5. Sleep disorders

Bad sleep habits take the front seat when you have to deliver a product on time. There is so much chaos, from customers and employees to family, that you often mess up your sleep schedule. My own bad sleep patterns began to affect my productivity, so I started waking up at the same time every day irrespective of my sleep time. My routine adjusted automatically to my sleep timings.

#6. Family relationships suffer

Have you experienced this when you don't give time to your girlfriend, wife or kids? Even when you sit with them, you talk about recent funding news, or your difficulties in hiring, or how tough your customer is. Give it a break! Spend some quality time with your family.

#7. Bad food habits

A very likely situation for bachelor entrepreneurs. You won't have time to cook food. You will subsist on ready-to-eat junk food alone. You had better get on a fruit diet instead.

#8. No social life

You won't feel it because you are busy building your product or chasing your next customer, but your friends know how many parties you are missing.

I am not trying to scare you, but it is a truth. I have experienced this in my startup life when we lost Rs. 15,00,000 in my startup but learned how to run a business.

Ask yourself, If I quit my job and follow my passion even if I fail miserably, then how would I feel? If you still feel motivated that at least you were able to follow your passion & learn something new - then go ahead and embrace entrepreneurship.

Pardeep Goyal is the founder of award-winning blog CashOverflow.in. He educates his readers about saving money using best credit cards, grow wealth with the right investment and earning passive income online.


The views mentioned above are of the author only. Data and charts, if used, in the article have been sourced from available information and have not been authenticated by any statutory authority. The author and Equitymaster do not claim it to be accurate nor accept any responsibility for the same. The views constitute only the opinions and do not constitute any guidelines or recommendation on any course of action to be followed by the reader. Please read the detailed Terms of Use of the web site.

Equitymaster requests your view! Post a comment on "The Dark Side of Entrepreneurship". Click here!


More Views on News

Seven Mistakes To Avoid While Investing Online In Mutual Funds (Outside View)

May 22, 2019

PersonalFN explains the mistakes you should avoid while investing online in mutual funds.

Can HSBC Overnight Fund Help In Building A Rainy Day Fund? (Outside View)

May 22, 2019

PersonalFN analyses the New Fund Offer: HSBC Overnight Fund and shares insight about will it be worth investing based on its investment objective, asset allocation, investment strategy and the outlook.

Is Your Portfolio Ready for Another 5 Years of Modi? (Profit Hunter)

May 22, 2019

Do this and whichever way the market goes tomorrow - you will be well prepared for the opportunities it throws up.

My Next Stock Recommendation Has 40% Upside No Matter How Many Seats Modi Gets (The 5 Minute Wrapup)

May 22, 2019

We are recommending a stock from the banking sector for this month's Smart Money Secrets recommendation.

Why Direct-Plan Investors Don't Stay Invested for the Long-term (Outside View)

May 21, 2019

PersonalFN explains why investors in direct plan don't stay invested for long-term.

More Views on News

Most Popular

My Top 7 Stocks to Profit from Sensex 100,000(The 5 Minute Wrapup)

May 16, 2019

Tanushree Banerjee explains everything you need to know about the Rebirth of India and Sensex 100,000.

3 Indian Stocks Replicating Amazon's Successful Strategy(The 5 Minute Wrapup)

May 10, 2019

The one critical element that has made Amazon a force to reckon with...

3 Stocks to Bet on to Become a 'Dividend Millionaire'(Profit Hunter)

May 14, 2019

As markets continue to rattle amid earning season, upcoming elections, volatile crude price and US China trade war, it's a great idea to add some stability to your portfolio by adding dividend stocks.

Indian Steel: The Perfect Multibagger Opportunity(Profit Hunter)

May 17, 2019

A structurally strong Indian Steel Industry will help India achieve 8%+ GDP growth in the coming years.

The Bitter Pill that Will Lay the Foundation for Sensex 100,000(The 5 Minute Wrapup)

May 14, 2019

These companies will help the Sensex more than double from current levels.


Get the Indian Stock Market's
Most Profitable Ideas

How To Beat Sensex Guide 2019
Get our special report, How to Beat Sensex Nearly 3X Now!
We will never sell or rent your email id.
Please read our Terms


May 22, 2019 (Close)