Are Start Ups Over Hyped?

Category: Business and Economy, Entrepreneurship 16 0

I dropped in on two guys discussing a business idea. I did not particularly hear what the deal was but one of them was super charged and very excited, I guess he was the proponent of the idea.

I walked on and their voices faded off but the encounter got me thinking; startups!

Startups, according to wikipedia is an “entrepreneurial venture which is typically a newly emerged, fast-growing business that aims to meet a market place need by developing a viable business model around innovative products, service, process or a platform. A startup is usually a company such as a small business, a partnership, or an organisation designed to effectively develop and validate a scalable business model.”

Business ideas come and go. Some never see the light of day and some become a success from the day it was conceived. Some need a little bit of tweaking and fine tuning while others just get it right from the scratch.

There is a level of joy associated with being your own boss, calling the shots and having people at your beck and call, doing your bidding…now, that makes you wonder why we still have so much white collar job(bers) and so few business owners(bosses).
Itemised below are some reasons i feel this is so;

FEAR
UNCERTAINTY
FUND
FEAR
UNCERTAINTY
FUND

This is just mentioning the most potent ones and yes, I know I wrote each one twice, here’s my reason…

FEAR
Clear and present fear is the first odd one faces when starting out on a hitherto uncharted course. It cripples you, numbs your mind and makes you feel less sure of your ability to perform.

UNCERTAINTY
The question: “what if” keeps popping up in your head.
“What if the idea does not fly?”
“What if I quit my job and this idea fails?”
“What if I get it right but cant keep it running?”
The “what ifs” just goes on…

Ok, now, you have the right idea and plan but there’s still one ‘small’ detail you left out;
FUND!
Good business ideas have been known to have tanked for lack of fund. Right then you feel the whole world is against you because you just can’t get them to ‘buy’ into your idea and part with some cash…sounds familiar?
Funding a startup could be a herculean task, while some get lucky and raise funds with little or no stress, some have to pass through the eye of the needle to do same while some just never get to raise the required capital and end up thrashing an idea that would have made them billionaires and forever change the world.

So now, you have overcome the FEAR,the UNCERTAINTY and the FUND hurdles and they still seem to be present in the background.
Daily you entertain FEAR that something might go wrong with your business and you become UNCERTAIN about how well the business will do in future and then you need FUNDS (which you probably don’t have) to expand and stay afloat.

So there you have it;
FEAR UNCERTAINTY FUND and
FEAR UNCERTAINTY FUND
This is why some would rather remain in a paid employment than be made to go through all these “wahala”

I have always thought that the cemetery was full of ideas that was never developed, dreams that burnt out halfway and never came to fruition because the man got scared either of failure or just couldn’t be bothered with the motions.

In spite of all the attending setbacks, you might want to revisit that sweet business idea you had and see how it turns out, who knows, it might just be the next Snapchat.

Tope Aguda is an Entrepreneur and writes from Lagos.

 

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