Why Entrepreneurs need to burst the Entitlement Bubble :Sivesh Kumar, Founder and CEO – StartUp Monk

   

The world doesn’t need another Idea, the World needs a rebel.

Yes, the world needs a rebel.

The technological advancement has reached at a point from where it is really hard for entrepreneurs to make new discoveries or great innovations. Even best of the minds can only work to make existing things a bit better with all the knowledge and resources. And this is creating a huge spectrum of self established entitlement by the entrepreneur community. Some entitlements which bother me the most are:

  1. Entitlement of Unique Idea: No, your idea is not unique. Even Facebook’s idea was not unique, in some way or other it was designed on the lines of Orkut. If you think you have a really brilliant unique Idea, let me burst the bubble for you. Google it, and in some form or the other, some 50 people will be at ideation stage and some 10 already executed. That also globally. And you make it worst when you ask Investors and Mentors to sign Non Disclouser Agreement (NDA)
  2. Entitlement of Funding: Investors and VCs has all right to reject your pitch. They are running a business and their business model depend on investing in ventures which they think will make money in future. So, even if they will have a doubt as thin as a hair, they will not gonna invest in your StartUp. Neither they are running a NGO nor they are doing Charity.
  3. Feels the World owes them something:Entitlement and the disappointment it brings is a disaster for business owners. When an entrepreneur puts huge amounts of time and energy into a bad business idea, they sometimes develop a (false) belief that they’ve paid their dues. That now the world owes them something. There’s no prizes for hard work alone unfortunately. Your pain and struggle means nothing to the market place. Execution is everything, but only when you’re clear on how to create value. Quitting because of bitterness or feeling victimized by the world is the easy way out. What’s harder is leaning in. Leaning in to figure out what it was about your efforts that failed to create value for others. Those who give up will never find out the answer.
  4. Feel Entitled to fast results: As Jack Ma said the bigger the problem you are solving the more time it will take. Everything worth doing is worth doing precisely because not too many other people are doing it. There’s nothing of lasting, concrete value that’s been created by an entrepreneur that didn’t require significant patience. 
If you started out as an entrepreneur expecting it to be quick, the only thing you need to give up is that expectation itself. Stick around. Play the long game.

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