Side effects of Entrepreneurship

·         Frustration Frustration hits you like the monthly mobile bill. Every month, we plan something great, but plans fail quite often. We can’t avoid the frustration of failure, but we can learn how to handle it.

·         Insecurity-You doubt your decisions many times. You won’t find anyone to help you out. This is a side effect of becoming your own boss. You can’t ask for directions all the time, even if you have mentors.

·         Self-worth issues-You doubt yourself. After continuous failures, you start feeling like you aren’t worthy of anything. Persistence and perseverance are keys to tackling such a situation.

·         Addiction of work-This happens with almost every entrepreneur. Addiction to anything has an adverse effect on life. It’s even possible for someone to become addicted to smoking or alcohol after starting up, as they use it to alleviate stress.

·         Sleep disorders-Bad sleep habits take the front seat when you have to deliver a product in time. There is so much chaos, from customers and employees to family, that you often mess up your sleep schedule. My own bad sleep patterns began to affect my productivity, so I started waking up at the same time every day irrespective of my sleep time. My routine adjusted automatically to my sleep timings.

·         Family relationships suffer-Have you experienced this when you don’t give time to your girlfriend, wife or kids? Even when you sit with them, you talk about recent funding news, or your difficulties in hiring, or how tough your customer is. Give it a break! Spend some quality time with your family.

·         Bad food habits-A very likely situation for bachelor entrepreneurs. You won’t have time to cook food. You will subsist on ready-to-eat junk food alone. You had better get on a fruit diet instead.

·         No social life-You won’t feel it because you are busy building your product or chasing your next customer, but your friends know how many parties you are missing.

I am not trying to scare you, but it is scary because I have experienced this in my startup life. If you still want to take a leap then go through the checklist below before taking the final decision.

Checklist before leaving your job

·         Why quit? Is it because I hate my boss or work, I want to pursue my passion, or I want to become my own boss?

·         Can I work on my dream venture while doing a full-time job? How much time will it take to launch an MVP (Minimum Viable Product)?

·         What are my Plans A and B? What if both fail? Do I have plans C and D?

·         How much do I spend monthly? Calculate your present expenses and future expenses.

·         How much do I need to support the family in the future? Consider your obligations like marriage, your kid’s education, and the foreign vacation you promised your family.

·         How long can I survive without a salary? If you think your venture will start paying you back in one year then save money for yourself for at least two years, because your plans will fail quite often.