Why should you start a Startup?
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This will be in terms of the Indian context.
📌 Want to Create Value for the user
If you really wanted to change the world or some part of it. You know some gaps in society and you really wanted to fill them.
📌 You have a passion for the problem you are solving.
Based on my personal opinion if you have this in your checklist you are good to go for the startup. it has a heavyweight in all the criteria. reason being a few things you can easily change you can learn new skills but it is harder to get a passion if you don’t like to solve that problem.
📌 You will not think about money and career.
It may be controversial but trust me it will help you a lot while choosing a path. India is a low-income country (based on facts and figures). For earning more people often choose to be a doctor or an engineer (most probably a computer). Parents forced you a bit while choosing the career especially, where failure chances are higher reason being they are wearied about your bread and butter if you can’t earn it no one will be there who might help you with obviously, it will be different in us, European countries reason being income gap.
If you think not earning for at least 2–3 years can’t hurt you can think of a startup. In a startup mostly you will figure out things you may have to struggle for the funding or may have to pump most of your money and for a few years, you might not be able to see any progress or getting any profit and based on data failure rate will be very high.
You can easily get a handsome amount by doing a job in some of the great startups and companies by not doing much. but in starting a startup, you might not get even a single penny for the first few years by working more compare to a job.
📌 Do you like to be a scapegoat?
Would you love to do the task where you have fewer than 1% chances of surviving in the market? Will you be able to work a lot and still be ready for the failure?
Would you be able to take all responsibility for failure on your head no matter what went wrong if it’s your fault or not?
📌 Do you love to work on hard challenges?
You may have to solve a hard problem not just related to your domain but from another domain, you don’t have any idea about it.
📌 Are you a master of all treads? / do you have co-founders with complementary skills?
It’s better to know your trades instead of sharing the task to other companies or giving it to freelancers. Most of the time it backfires others work who are not a part of your board of directors.
📌 You love to talk with different mindset people. You love to create a network.
If you are too shy or introverted, it is difficult to talk with the people. I will advise you to have at least one extrovert co-founder who can communicate well.
📌 You love to Wear Many Hats
You have skills in a vast range of domains or you really wanted to learn the skills of various domains. Congratulations startup is for you.
📌 You do not fall in love with a startup idea
This sounds silly yes, it does. but trust me I have researched quite a few startups and more than 30% of startups founders do not know what to do with MVP. they come up with an idea they don’t know who may have this problem and just started building the MVP.
📌 You don’t get easily discouraged
It sucks being failed at any place. I know how it feels everyone fails in somewhere no one is perfect in this world. If you think it is okay to fail in many places and still you can walk.
You will be a salesman in the first place, not a founder. You know salesmen often get rejected, so you will.
📌 Having the talent to create something out of nothing.
At the start, you will have a crazy idea which you wanted to create a solution out of it. an idea can be anything but you love the process of converting an idea into product and execution model.
📌 You Can Escape the Rat Race
Normally, people starting fighting with a competitor instead of learning from them. They end up hurting themself. It’s a skill to learn how to come out of the rat race.
📌You want freedom
One of the best perks of being an entrepreneur is you will get the freedom to work on things you love you care about.
📌 You want to create for a fortune for yourself and people associated with startup.
Yes, you can create a fortune by starting a great startup and solving millions of people’s problem but not always. by doing a job you can also create a fortune Microsoft is the biggest example it makes many employees millionaire.
📌 You want to live with excitement.
By doing a startup you will attract freedom for yourself, pride if succeed, skills, passion and excitement to do work at each and every morning.
You will have ever-changing challenges that will keep you excited just like a video game. You have to keep playing at the same level until you get succeed.
