Often perceived as a glamorous profession, the life of the entrepreneur is often fraught with stress and disappointment, according to a presentation from Mark Suster made earlier this month. Suster, a two-time entrepreneur turned venture capitalist made a keynote presentation at the Seedcon event in the US in November.
Read the sldieshare presentation below:
Suster’s speech, aptly titled “Entrepreneurshit”, must have hit home. He tweeted that the blog entry received 58,000 hits in one day , making it his site’s busiest day ever.
The presentation (below) shed some light on the reality of being an entrepreneur- a common path in the digital sector.
The presentation, entitled, “Entrepreneurshit. The Truth About Building Startups” set out to debunk the impression that being an entrepreneur is all about glitz and glamour.
Some of the reasons Suster says it sucks to be an entrepreneur:
• You hardly have any time to spend with your family and friends.
• There’s little time to sleep because you’re always on the road.
• Positive outcomes are pretty rare — not every founder makes big money.
• Many entrepreneurs who raise a seed or venture round only operate with nine months’ worth of cash at any given point.
• It’s hard to convince top-notch talent to quit their jobs to join a young company.
• If someone’s not working out, you need to fire them immediately because you only have so much in your budget to put up with non-essential employees.
• The next WWDC, F8 or DreamForce event could be where you find out there’s a new company or product out to crush you.
• A lot of people are depending on you and closely watching how your company performs, whether it’s your parents, family, employees, investors, or the press.
• The startup community constantly tells you your product simply “won’t work.”