When we look at the concept of this Universe from a Metaphysical and Spiritual standpoint, it is very intriguing. Masters have said this Universe is a “whim” of the “Ultimate Intelligence” or “The Universal Soul” to experience itself in its Infiniteness. So first there was nothing, and then there was a whim or the first thought which manifested itself in the form of this Grand Universe. The “Spirit” of Entrepreneurship reverberates with this essence of wanting to experience its own profound self through an idea which is its grand universe.
So what is the motive behind engaging in a start-up venture? I have been exploring the personalities and traits of entrepreneurs who have taken on to this game of business ventures. It does not matter if they were onetime, serial or parallel entrepreneurs, I have seen some common traits in them for sure. Almost all told me that they were inspired by an idea that they thought would impact the world in a positive way. This inspiration is uncaused and very intangible in nature. They are a set of individuals who wanted to create a “social identity” for themselves by being recognized as beings who carved their own path out. The trigger of entrepreneurship always existed in them, and they were willing to go after it. They are all dreamers passionate about perusing their idea to the point of success. Most started with no money in their pockets and are today amongst the highest revenue earners and taxpayers.
As per Carl Jung the most revered psychologist, the personality style of an individual would look for its expression someday, and this is what we term as the mid-life crisis. However, research says individuals make a choice at this point whether to continue with the existing skills or recraft life with a new set of skills. This process of reinventing self is an eternal aspect of life. But it is also a choice. Some people take on to the journey of entrepreneurship as a family choice while others become first generation entrepreneurs. However, the reinvention of self is an ongoing phenomenon which thus becomes a journey of perpetual innovation.
So, an entrepreneur always starts with a whim, an idea that they believe in with almost a 100% certainty. It is just a belief; a hypothesis that needs testing for sure. It also needs to be developed in a tangible form. Since we are only dealing with the subject of “Advent,” it is a bug stage that one gets bitten with. It is like being possessed with the thought of bringing the idea unto life. So who are the ones who ultimately make it in the world of start-ups?
- The entrepreneur persona is a part of their ideal self that they can never give up.
- They are obsessed with the “idea” which they want to execute as it a part of their passion and a sense of purpose.
- They know they are risking it all and there is no going back. The venture has to succeed. Perpetual persistence is the key here.
- There is a fierce thought that even if they are alone, they will make it.
- There is an innate ability to deal with failures and reversal. They just spring back into action after every reversal. Failure is just another incident which is a part of their life.
- Uncertainty is a tonic for their drive. They just can’t live without it.
- They make it in spite of all the challenges around them. Favorable situations are not that they draw inspiration from.
Authenticity is the key to successful start-ups. The founders believe in their passion and have a clear action plan with the power of knowledge & competence that stimulates a feeling of trust and confidence in the sponsors and customers. Far too many fail because of lack of “Authenticity.’ Ethics is the eternal driver of trust in business.
So when is the right time to get into the game of entrepreneurship? Is financial security essential before venturing out? You will need three years of cash flow to sustain your journey in the initial phase of the startup. This is the manifestation and incubation period where you will need to survive through “grit and stickiness.” You will have to cut your quality of life. One can also look at an option of part-time entrepreneurship till the venture stabilizes, but I am not too impressed with the idea because here the procrastination and quitting the game always is an option. Unless there is full focus and energy concentration, a start-up will never succeed. It needs nerves of steel and intense effort to make any start-up successful.
So what sows the seed of a successful start-up? A passion to peruse an idea that one is obsessed with against all the odds & risks with ultimate patience. Any idea can be made successful if it is powered by our conviction. It is a self-fulfilling prophecy. Start-ups are surely not for the “faint-hearted.”