7 Things To Understand Before Becoming An Entrepreneur After Watching Shark Tank India

A show that needs no introduction at present is Shark Tank India. The reality TV show¡¯s popularity has skyrocketed ever since it premiered in December 2021. And even after the show ended last week, it has left a mark on many viewers¡¯ minds.

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But that¡¯s not all. The innovative show has even inspired many people to begin their startup journey and become an entrepreneur. If you too have caught the entrepreneurial bug after watching the show, then just wait and read this out.

Neither starting nor sustaining a business is a cakewalk. Most of you might have got an idea at least about how challenging it is to begin a business and grab funds for it through the TV show.

So before you hop on the startup bandwagon, first understand some not-so-talked-about facets of entrepreneurship.

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1. The entrepreneurial journey is a double-edged sword

No matter how excited or keen you are towards this idea of becoming an entrepreneur, remember that this decision and journey both are double-edged swords.

While there¡¯s no doubt that becoming an entrepreneur makes you your own boss and hence the freedom to work the way you wish instead of working under someone as an employee, it may at the same time also deprive you of the guidance, as there is no one else out there to tell you what and when to do.

So, while you are the star of your business blooms, you are also likely to be the sole loss bearer when mistakes happen or your business fails to pick up. Thus making this entrepreneurial journey a double-edged sword in itself!

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2. Be ready to ride a roller coaster

Do you think of entrepreneurship as a smooth journey wherein you turn an idea into a business, and then keep running the business without any hurdles? If yes, then you need to hit the refresh button in your mind and read this.

Amidst the excitement to start and run a ¡®successful¡¯ business, keep in mind that planning and executing your new business will take you through multiple phases of extreme highs and lows, with the chances of the latter being higher at times.

So, one day you can swell with pride to see your business boom, and on the other day it can make you hit the rock bottom. Hence, be ready for a roller coaster ride and be firm on your ambitions without easily giving in to the thought of quitting.

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3. There is no 'rulebook' to success

Whether it's Bill Gates, Warren Buffett, Mukesh Ambani, Kiran Mazumdar-Shaw, Jeff Bezos, Falguni Nayar, Ankur Warikoo or any other entrepreneur which you admire, each of them had a different journey and must have faced a wide array of obstacles and roadblocks in their entrepreneurial journey.

So there is no rulebook to guarantee you success. After all, what worked for someone might have turned out to be blunderous for someone else, isn't it? It's all about taking the right decisions at the right time.

Remember, there is no one size fits all policy here or a secret mantra to success, so why copy someone else¡¯ answers when each one of us will have a unique question paper!

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4. Beginner¡¯s luck does not last forever

Starting a business and achieving almost instant success, whether big or small, is often a common sight in many entrepreneurial journeys. Although there¡¯s absolutely no harm in tasting success early on itself, do not think that this ¡®beginner¡¯s luck¡¯ would last forever.

Avoid misconceiving beginner¡¯s luck as the ultimate formula of success, as more often than not it is short-lived. For long term success, the key lies in remaining disciplined, knowing your target audience, and acing your quality and pricing of products and services.

5. Stop running behind ¡®success¡¯ stories and look for failures

Success stories. We often tend to run behind them, right? The idea of knowing how that person became successful gives us motivation and inspiration, isn't it? But that's a usual and expected thing from most people. What's rare is to learn from the failures of others. After all, a wise person learns from their own mistakes, but a wiser person learns from the mistakes of others.

So, keep this formula in mind and be the one who learns from others¡¯ failures and mistakes while everyone else does the usual task of focussing on ¡®success stories¡¯.

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6. Ideation and execution are not always the best of friends

No matter how genius you may think you are or how unique or big your ideas are for your business, all of it can end up in the trash due to poor execution.

Yes, proper execution is what determines the success or failure of your business idea.

To turn your amazing idea into a potential business, having a well-thought plan chalked out and executed is what can turn the tables quickly, and give a strong head start to your entrepreneurial journey.

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7. Not everyone will be supportive and that¡¯s okay

Whether it's about sharing your new ideas with friends and family or pitching your business idea to potential investors for funding, be ready to hear ¡®no¡¯ when you wish to begin your entrepreneurial journey.

Although you may feel disheartened multiple times, it's totally fine if others are at present not believing in you or your idea. It's all about you believing in your business plan and having the strong will to move forward and make it happen, no matter what.

Gradually, once you begin tasting success and rise high, wait and watch how all the doubters and haters turn into your fans!

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