On a daily basis, thousands of articles are published talking about how great being an entrepreneur is and all the benefits it allows you to live out your passion. Some even go as far as tell you to quit your job and become your own boss, which in all honesty – you never become your own boss, people will still be telling you what to do.
Entrepreneurship isn’t for everyone but it is for anyone who is prepared to take on the journey. While magazines, news, and social media, highlight the successful entrepreneurs out there. According to Bloomberg Business, 8 out of 10 entrepreneurs who start a business fail in the first year. That’s 80%. The odds are against you.
Do you accept that challenge?
Cool. Because in order to be an Entrepreneur you must be Kū.
Does this sound familiar?
You are cruising with your friends, maybe having a few drinks at a bar, when you come up with an idea you believe is going to be the next big thing.
We should start a bar!
Needless to say, a couple groups down from you are probably saying something similar.
We should start a brewery!
With all the failure and success stories out there, you get a good idea on how you can apply those lessons to your aspirations of starting a business no matter what scale you are thinking. Guys, it could be selling your crochet skills on Etsy. No judgments here.
But before you embark on this journey towards become an entrepreneur, there are a few Truths you should know before you take that leap. Remember, it’s not for everyone but it is for anyone willing to crawl through the trenches and ready to be Kū.
6 Truths of Becoming a Kū Entrepreneur
It’s not all glitz and glamour
You see the monthly salaries, the pictures with famous people, the stories about traveling around the world and it all sounds frickin amazing. That’s just a view of a small percentage of entrepreneurs out there. Not saying that it’s not possible, anything is possible, but even those highlighted entrepreneurs will tell you it wasn’t always glitz and glamour.
Have you ever heard of Arianna Huffington? She founded one of the most recognizable names online, The Huffington Post. Before the Huffington post, she tried to publish her book and experienced 36 rejections before a publisher actually accepted her book. That’s rough.
Walt Disney was told that he lacked creativity and was released from his newspaper job. He went out to start his own animation company, Laugh-O-Gram Films which also failed and left him out of money. Disney made his way to Hollywood, received more criticism, and continued to fail. Then, you know the rest of the story.
People focus on the successes of entrepreneurs rather than the failures and hardships, but that’s where you need to learn from.
The work-life balance is impossible
In the beginning of starting a business and actually making money, your work is life. People tell you it’s important to create a balance between work and life, but when it comes to you building your project from scratch – it becomes your life.
You have to bust your ass now so you can reap the benefits later. As entrepreneurs you have a zero sense of balance. Many times you will skip meals, stay in on weekends, and maybe even miss showers, meaning you will stay away from any distractions that could hold you back from developing your vision.
While Thomas Edison worked towards creating the first light bulb, he had a cot next to his desk, worked long hours, took catnaps, and went right back to work.
Now, it doesn’t mean you have to give up everything. But it does mean you have to focus what matters most and get rid of the unessential stuff.
A Support System is Essential
It can get lonely as an entrepreneur.
You have all these ideas and you dive right into bringing them into life. There will be moments where you may feel things aren’t going the way you thought and you may even think of quitting when things are getting a little rough.
Having that support system or mentor to guide you along the way and make sure you stay to your path, is important for following through on your vision. Join or create a Mastermind Group, find a meet up group of entrepreneurs in your area, or tell your friends and family about how you would appreciate their support. The people you have around you have a direct effect on you.
You Will be Criticized
Eleanor Roosevelt said, “Do what you feel in your heart to be right – for you’ll be criticized anyway. You’ll be damned if you do, and damned if you don’t.”
Richard Branson founded Virgin Atlantic in 1984 and all of his competitors told him he would fail. Branson used the criticism as fuel to ignite creative ways to overcome those obstacles and doubts. Many of the world’s successful leaders were laughed at and criticized. But instead of letting the criticism and naysayers get the best of them, they learned to be open to valid criticism and let go of the naysayers.
You can’t expect to please everyone, so don’t try to. You also can’t help those who don’t want to be helped.
Fake it Till You Make it
Even with things are slow and not exactly where you thought it would be, you have to be able to act like you’ve already achieved the status you envisioned and present your company to others in that light. This doesn’t mean to misrepresent and lose your integrity by fluctuating numbers to make yourself look better. That’ll come back to haunt you. Also, strive to grow fast. Look for creative ways where you can create partnerships, extensions for your brand, or connect with customers and make sure you bring value to them.
Make sure to stick to who you are and don’t think you have to become someone else. Remember your original goal and keep to your values. Our mantra here at The Kū Project is “Be You. Be Kū.” and we stick to that in every decision we make.
You Will Fail
Michael Jordan said, “I have failed over and over again, but that’s why I succeed.” You must expect to fail. That is a definite guarantee for entrepreneurs. But it’s what you do with those failures that lead you to success. Entrepreneurs see failure differently than the majority. While most people will quit and beat themselves up, you must use the lessons you learned from the failure and strengthen your dedication.
Strength is found in the struggle, and as an entrepreneur, you will come across many times of struggle. Embrace it. Overcome it. And Rock on.
If you think you want to be an entrepreneur or are one today, you have to be Kū.
By embodying the philosophy of Kū, you look for strength in everything around you and that you do. You want to attract strengths to you that will help you achieve your goals and aspirations. You can find strengths in the failures just as must as you’ll find in the successes.
Accepting that there will be struggles and hard times rather than fighting it, is an important part of going on your Kū entrepreneur journey. This is by no ways to scare you from trying. This is to share with you the real stuff that people don’t want to talk about because it’s not ‘positive’.
Yes, it’s not that flowery-positive, but it’s real. Being an entrepreneur isn’t for everyone but it is for anyone willing to be Kū.
