Continuing my experiences of the Startup Semester program at UC Berkeley, I now narrate my realizations of what lies behind starting up, in an expectations-against-reality format. For instance, I did understand that starting up is tough, but hearing first-hand experiences in the Richard Newton Lecture Series (IND ENG 95) and Tech Entrepreneurship (IND ENG 191) classes, I realize how much the journey may take one far beyond his/her comfort zone. In this post, I describe the top hard-hitting realizations I’ve gained so far.

Expectation 1: “Entrepreneurs lead glamorous lives.”

The reality is that most entrepreneurs are bankrupt, barely able to make ends meet. The result of entrepreneurial success is a sheer product blood, sweat, sleepless nights, and most importantly the sacrifice of things they hold close, such as love, family and friendships.

Expectation 2: “My idea can be successful.”

Over ninety-percent of startup ideas don’t take off (which means the chance of success is less than ten-percent!), and there’s always the factor of someone else working on it. A brilliant idea alone isn’t enough; it has to be feasible, scalable, money-churning and market-disruptive. Another entrepreneurial reality here is that your first idea will almost certainly pivot or evolve. Pivoting is highly risky and expensive, and the skill of an entrepreneur lies in when to do it.
Also, success doesn’t come quickly; it takes months (or even years) of execution for the fruits of collective effort to materialize.

Expectation 3: “An amazing product requires minimal marketing.”

The reality is that for a new product to be disruptive, it requires extensive study of the market and customer behaviours. For instance, there were already MP3 players in the market when the iPod came in. It was a hit was mainly because of its superb marketing (“1000 songs in your pocket”) that made it attractive.

Image courtesy: CNET

Expectation 4: “Building an online presence is simple!”

Talking specifically in terms of technology entrepreneurship, growing an online presence takes work. Fine-tuning algorithms, improving online strategies and building resources to scale up an early-stage business takes months (or years, again!), and is key to the technological aspect of winning customers.

Expectation 5: “I can be my own boss.”

An entrepreneur may be heading the company in more ways than one, and since it is a captain’s role, it requires excellent leadership. However, in reality, an entrepreneur does not entirely call the shots, and is often defeated to market circumstances and the demands of investors and customers.

Expectation 6: “There will be people to help me.”

It is a harsh reality that people whom you may most expect to help you, may be the ones to walk away. And along the journey, there may be people who quit, betray, and even criticize you in public. The emotional strength of an entrepreneur is tested to the greatest extent here, and he/she must be prepared for hurdles such as rejection.

Based on the above points, starting up provides an immense amount of knowledge and strength, even if it is a result of failure (which is still a worthwhile achievement!). In conclusion, there is solid and excellent experience gained in doing it – an experience exclusive to few, and a story of a lifetime.