{{ searchResult.published_at | date:'d MMMM yyyy' }}

Loading ...
Loading ...

Enter a search term such as “mobile analytics” or browse our content using the filters above.

No_results

That’s not only a poor Scrabble score but we also couldn’t find any results matching “”.
Check your spelling or try broadening your search.

Logo_distressed

Sorry about this, there is a problem with our search at the moment.
Please try again later.

If you've been paying attention to the massive valuations being given to companies like Facebook and Twitter through secondary markets and the easy money that's being lavished on new startups in Silicon Valley these days, you're not surprised at the latest generation of entrepreneurs seeking to become the next Mark Zuckerbergs.

Bubble or not, good times are here again for the time being, and this time around, the good times have built up a new phenomenon: the Cult of the Entrepreneur.

You see it just about everywhere these days. Its primary characteristic: the glorification of the entrepreneur who starts with nothing, and against all odds, manages to succeed.

The Cult of the Entrepreneur is epitomized by blog posts like that of well-known angel investor Chris Dixon, who the other day wrote:

You’ve either started a company or you haven’t. ”Started” doesn’t mean joining as an early employee, or investing or advising or helping out.

It means starting with no money, no help, no one who believes in you (except perhaps your closest friends and family), and building an organization from a borrowed cubicle with credit card debt and nowhere to sleep except the office.

He goes on:

It almost invariably means being dismissed by arrogant investors who show up a half hour late, totally unprepared and then instead of saying “no” give you non-committal rejections like “we invest at later stage companies.” It means looking prospective employees in the eyes and convincing them to leave safe jobs, quit everything and throw their lot in with you. 

It means having pundits in the press and blogs who’ve never built anything criticize you and armchair quarterback your every mistake. It means lying awake at night worrying about running out of cash and having a constant knot in your stomach during the day fearing you’ll disappoint the few people who believed in you and validate your smug doubters.

It's the perfect script for a Hollywood movie, but is this really what being an entrepreneur is all about?

In my opinion, no. Entrepreneurship is a wonderful thing that should be encouraged, and the internet continues to serve as one of the most powerful platforms for entrepreneurship today.

But not every individual starting a company is an entrepreneur, and the type of person described by folks like Dixon have what I like to call Entrepreneuritis. Its symptoms include:

  • Needing to raise money for your venture because you have little to none of your own.
  • Feeling bitter because of the assumption that nobody believes in you.
  • Worrying about what unimportant people (read: those you aren't trying to serve) think and say.
  • Discomfort recruiting others to join your venture because you know deep down inside that you probably don't have the resources to execute.

Those suffering from any of these symptoms needn't ask a doctor about a prescription drug. There's a cure for Entrepreneuritis. It's called 'being realistic'.

That might sound pessimistic, but the truth of the matter is that despite the stereotypes Silicon Valley has created, most new businesses are not started teenage wunderkinds, 20-somethings with lots of ideas and little domain expertise, and founders who have a negative net worth.

Can these folks succeed against the odds? Sure, but you could win big in Vegas betting everything you own on red too.

At the end of the day, the real problem with Entrepreneuritis is that it creates the false impression that you have to start a company to get in on the action in today's market. Yet nothing could be further from the truth.

As Maxim founder Felix Dennis has pointed out, you don't have to start your own business to be successful. To the contrary, "If you never have a single great idea in your life, but become skilled in executing the great ideas of others, you can succeed beyond your wildest dreams" he writes in his book, The Narrow Road: A Brief Guide to the Getting of Money.

At a time when technology is rapidly evolving, and forcing meaningful transformations in industries ranging from publishing to marketing, some of the finest opportunities to build valuable skills, a rewarding career, and financial comfort do not require that you beg for funding, sleep on the floor of an office you're paying for with a credit card or lie awake at night worrying.

There are many ways to participate in the digital revolution, and the best aren't the sexiest. In other words, you don't have to start a company to finish a winner.

Patricio Robles

Published 28 April, 2011 by Patricio Robles

Patricio Robles is a tech reporter at Econsultancy. Follow him on Twitter.

2391 more posts from this author

Comments (2)

Avatar-blank-50x50

Climb Digital

Hi Patricio, great article! Being an "entrepreneur" is less to do with what it means and more to do with having people support you as a new business and give you more exposure.

I started Climb Digital from nothing with very little money and have to say the journey is not an easy or glamorous one. I also opted out of starting a tech startup business that might have a 1 in 15 chance of making it if I got investment from a company. I took an existing service that I knew I could improve upon what my competitors were offering.

I do agree that the measure of one's success is not to do with starting a business, and that you could ultimately get paid more for working for someone in the early days of starting a business. Starting a business is a lifestyle choice that is open to people who choose to sacrifice quite a lot of their existing lifestyle to make the business work. Although I don't have any children of my own it is very much like taking care of an early born child in that the business has to come first!

over 5 years ago

Avatar-blank-50x50

Investment Consultant

Sometimes I get the Entrepreneuritis, especially when I just started because making money is what I prioritize. I never succeeded when I was like that, so I decided to change my outlook and learn to engage with others.

over 5 years ago

Comment
No-profile-pic
Save or Cancel
Daily_pulse_signup_wide

Enjoying this article?

Get more just like this, delivered to your inbox.

Keep up to date with the latest analysis, inspiration and learning from the Econsultancy blog with our free Daily Pulse newsletter. Each weekday, you ll receive a hand-picked digest of the latest and greatest articles, as well as snippets of new market data, best practice guides and trends research.