One of the reasons is a selfish desire
to ensure the continued survival of
the human race. I don’t want a
future where there are more
hospitals and fewer doctors. I don’t
want an entrepreneurial engineer A/
B testing a new bridge design in
production. And I certainly don’t
want to fly cross-Pacific in a
crowdsourced airplane.
Secondly, and more importantly, not
everyone is cut out to be an
entrepreneur. Some people just add
more value to the world as engineers
or scientist or doctors than they
would if they keep having a repeated
bout with entrepreneurship. At the
end of the day, isn’t that what it’s all
about?
As much as I generally love to inspire
people who have the potential to take
on entrepreneurship, I have compiled
below a list of the wrong reasons to
be an entrepreneur. I hope it will
compel some work-in-progress
engineers and doctors to remain
steadfast in their paths and continue
to save lives and build dams and
bridges.
Please note that I don't mean
entrepreneurship in the philosophical
sense here, which is usually
referenced when implying that every
human being is an entrepreneur,
because life itself is such an
uncertain entrepreneurial challenge.
I am talking hardcore, capitalistic, big
business entrepreneurship.
So without further ado, here are
seven reasons why you will most
likely not be a successful
entrepreneur if the singular reason
you are treading the path is because:
1. You are ‘inspired’ by Facebook’s $1
billion acquisition of Instagram
(substitute your favorite insane,
outlier, M&A precedent here).
Forget it. That and similar deals are
not the norm. More importantly,
entrepreneurship is not about getting
rich, it’s about delivering
substantially more value to the world
than you take out of it.
2. You are a rock star programmer,
engineer, marketer or whatever. In
order to be successful, you will need a
rock star team. Entrepreneurial
monologues usually fall on deaf ears.
3. You are inspired by your favorite
entrepreneur role model in the
community. There is absolutely no
correlation between your role
model’s success as an entrepreneur
and your ability to be one. True,
community mentors can be a big help
and can be used as course correctors,
but you will need a lot of passion,
drive, perseverance, skill and energy
of your own to fuel your
entrepreneurial journey.
4. You scored an 'A' in a course on
entrepreneurship at your college or
university. The theory or practice
taught at universities is either very
general knowledge or very specific
practice as relates to a case study of a
particular venture or business
problem. True, you will be better
equipped to handle common pitfalls
after studying the topic, but what
makes or breaks a new venture are
issues or opportunities that are very
unique and personalized to that
particular business. Your own ability
to learn from the mistakes you make
(and you WILL make them) will
determine your fate as an
entrepreneur.
5. You have had a tough childhood
and you persevered to become a
valuable member of your society.
Great, you are a tough cookie and a
fighter, that’s all good. It’s a key
ingredient of the entrepreneurial
cocktail. But know that persevering
and fighting to survive against all
odds is different from staying the
course at a business venture. In the
former case, you can’t afford to quit
or you will perish. In business,
alongside your fighting spirit, you will
need a sharp sense of judgment that
can guide you when it may be more
prudent to pivot or quit instead of
pressing on.
6. You have access to a lot of capital.
Well, that’s just great! You have
overcome just one of the hurdles in
launching a big business. All you
need now is a great idea, an untapped
market, a stellar team, masterful
execution, an ace product, right
pricing, outstanding marketing, high
quality partners, loyal customers,
unmatched customer service and a
successful exit to succeed against all
odds from competitors and changing
market dynamics. Piece of cake, isn’t
it?
Last of all, the number one reason
why you should not be an
entrepreneur is if you are deterred,
or even shaken, by an article like
this!

oya clap 4 urself