The stories you hear of the extraordinary hard work and ultimate success of some of the world’s best founders, such as Elon Musk or Jeff Bezos, can make starting a business sound exciting. However, when romanticising this concept, we must understand that these are the outliers, the massive successes.
It is estimated that about 60% of small businesses fail and that doesn’t even take into consideration the additional cohort of companies that barely make ends meet with founders making minimum wage or less.
Not only does starting a new business bring on financial instability and stress, but it can take a massive emotional toll with no guarantee of success. Founders often leave a stable job and take a massive chance on their ability to succeed.
This is the spirit of the entrepreneur.
Despite all these difficulties, founding a company is an admirable pursuit.
There is a quote that comes to mind each time I think of why as entrepreneurs we put ourselves through all these difficulties. Fredrick Nietzshe says;
“I know of no better aim of life than that of perishing in pursuit of the great and the impossible.”
So what is so admirable about it? As entrepreneurs, you;
- create jobs for people in your community
- are the forefront of innovation, bringing new ideas and technology to life
- drive economic growth
- provide social impact by solving social and environmental problems
To the cynical out there, sure like any economic pursuit, as entrepreneurs we want to turn a profit, create wealth and leave a legacy for our families – there is no shame in that either. But that can be said in the million other ways to make money with much less risk and stress.
So whether you are building some new technology to change the world, or improving competition in services industries like finance and real estate, you should be proud of the impact you are having on the world around you.
Levels Growth Consultants
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