This is a question which was recently put to me on a visit to IIFT B-School by couple of students. To everyone it sounds a no brainer but if you are running a startup especially if you have bootstrapped your way through you understand in which direction is this post going.
The student in front of me were from hard working middle class families with dreams in eye to earn lot of money quickly and in hand with information on startups getting funded millions of dollars. Telling them yes is easy as our job is to motivate the youth of today but one surely need to share with them the dark realities of life.
In real world not all companies get funded millions of dollars. Not everyone can come up with validating idea which will create bandwidth for huge money. Although the students carry the top B-School tag which they feel can help them open right doors at right places but ground reality is its not having just the contacts which help but finding ways for utilizing them right.
If you try to answer the question you need to analyze what is your vision vice-a-versa skills available with you to achieve it. Secondly Entrepreneurs are not only made by their self confidence and belief but belief of people around them their family their friends as their comes time in every persons startup life cycle when he/she would like to give up everything coming under the pressure.
So are you cut for it?
If you are a person who has already been working for some time and feel working for self is your calling then take the risk now and get into it.As you wont regret a bit. But if you are person who is just finishing B-School and after participating in couple of B-Plan comptt. feel motivated to get in. The answer would be NO. Why ??
My suggestion is you should first work for a similar idea kind of company probably nurturing in startup environment where you can implement and test skills on someone’s else money probably sharing similar goals and ideas. 1-2 years down the road you will figure out yourself if you are meant to take such risk to succeed and make something which stock market will go crazy investing in.