By Marcel Boer
Entrepreneurs are crazy and that’s a good thing
For most individuals, the entire idea of creating your own business is crazy. There’s no steady income, no blueprint for how to build it, and a significant risk that it may all come crashing down. But for those of us who the entrepreneur bug has bitten, it’s all worth it.
People dropping out of college to focus on their startups, living on their buddies’ couches, or consuming ramen every day for a month are all stories we’ve heard. Many entrepreneurs, I’ve discovered, are motivated by something in their lives that they’re attempting to conquer psychologically. And it is the subsequent effort that shows the distinct perspective that results in innovation and success.
“If you decide to do only what you know would work, you will miss out on a lot of opportunities.” (Jeff Bezos)
Entrepreneurs who are not afraid to undertake wild and crazy things establish great cultures and leave their distinctive mark on their organizations. Elon Musk is a genius inventor, engineer, and CEO of SpaceX and co-founder of Tesla Motors. He is recognized for his crazy behavior and is one of the most challenging, hardworking entrepreneurs out there.
Musk, for example, is a great admirer of James Bond films and just bought the Lotus Esprit submarine car from the movie “The Spy Who Loved Me.” The automobile transforms into a submarine in the film, and Musk decided he would have one. He purchased the car at an auction in London for $997,000 and stated:
“I was disappointed to learn that it can’t actually transform. What I’m going to do is upgrade it with a Tesla electric powertrain and try to make it transform for real.” (Elon Musk)
Sky is not the limit
For most of us, the sky’s the limit. For Elon Musk, his limit is undoubtedly fixed at Mars. He has every aspect and resource of humankind working against him to advance humanity beyond this planet. Yet, he’s still doing it because, in his opinion, we have to colonize Mars to survive- that seems pretty damn essential. If your ideas can rescue the world, nothing should stop you.
“When something is significant enough, you do it regardless of the odds.” (Elon Musk)
Here I have listed three reasons why entrepreneurs need to be crazy to be successful.
You’ll be pursuing your passions: Many people create their businesses to pursue their ambitions and passions. Working for someone else may not fulfil you in the same way as following your passions will. You are in charge of building your firm from the bottom up, allowing you to mould it into something you can be proud of and maybe pass down to your children as a legacy.
You can achieve financial independence: Many people start a business in the hopes of achieving financial stability. While it’s true that getting your business off the ground takes guts and may result in some tough times, in the beginning, the ultimate aim of being your boss is to achieve financial independence. Your own business may be as profitable as you want it to be with commitment and hard work. There’s no reason why you shouldn’t be able to reach your financial goals.
Several financial advantages exist for starting your own business over working for a job or pay. First, you’re establishing an enterprise with the potential to expand — and your wallet will grow in tandem with your enterprise. Your company’s value increases as it develops. You have the option of selling it or keeping it and passing it on to your heirs. It’s valuable in any case.
You can start from scratch: It’s your company! You make rules. You are not bound by your boss’ or company culture’s norms and procedures. A product or service that meets your vision might be offered. You can also create your business using your ideas. You could have considered a way for more effective techniques. You may wish to ensure that your staff gets fair wages and family leave time. Whatever challenges you experience in the working world, you have an opportunity for your firm to do something different.
Many entrepreneurs believe they would never want to work again for someone else after they have experienced the freedom to be their own boss and call shots to manage their own firm. But as mentioned earlier risk and lack of time are to be considered as downsides of such endeavors.