Indians think that one cannot be an entrepreneur if they do not have the capital to invest. This was true till some years back. But now, with the burgeoning of so many venture capitalists who are ready to invest in a good idea that can bring about a change in the world, now all you need is a promising idea. Now, all entrepreneurs need is the resolve to start out on their own.
Being an entrepreneur is not a piece of cake. While you can see your company growing and your ideas taking shape, there can be extremely tough times. When my company was around two years old, we hit a rough patch. We were not getting enough projects. I had to pay my staff, and I did not have any source of income. Sleepless nights had become a regular affair at that time. Profits seemed a dream. I did not know where to get the money from.
In all this, my son had turned two. We had to enroll him in a school. The expenses increased, without any sign of them being replenished. I was running into debt, and the pile kept increasing. I had started doubting my choice of becoming an entrepreneur. What if I am not cut out for it? Did I make a wrong life – altering choice? For me, the answers to these questions were more painful because I had two people who depended on me – my wife and my son.
I started meeting other entrepreneurs, in the hope of finding some solution to my problems. Although I did not get any magic solution that would make my problems vanish, I did learn something important – all entrepreneurs have their demons. All might not have the same problems, but they are similar.
One guy committed suicide because his idea was not showing profits even after a couple of years. He could not sustain with the money provided by venture capitalists, and started picking up loans from various banks, without a thought about the interest rate. Once he could repay the bank, he took another loan from another bank to pay the first loan off. Thus started a vicious circle he could not get out of.
Throughout this difficult time, I had the constant, undulating support of my family. They gave me the support I needed, and without them, I would not have made it through the difficult times.
Difficult times do not last, even though they seem to go on forever. The fear of such circumstances should not stop you from pursuing your dream.