Establishing a business is not as simple as having a secured job with a fixed salary. Very hectic schedules and sleepless nights are part and parcel of an entrepreneur’s lifestyle. Here is what five startup founders said they had to sacrifice to get their business off the ground.
- Sacrificed Many Things:Founding members of FRANKLY CO, (a flexible workspace that caters to women) Oonagh Geoghegan and Dee Behan say they gave up wondering, Saturday brunch, titles, Netflix shows, buying a house and are still giving up much more.
2. You Can Compare Entrepreneurship With A Gamble: Barbara Sharp, co-founder of Pax Republic, a regulatory technology company said they had to sell their family home to fund their business. Entrepreneurship is a gamble and they were ready to jump into it as they had experienced and expertise on it before.
- No Backup Plans and Net Income: Alan Downie, the founder of Bug Herd, says there was a time when he was earning almost nil or not even a fraction of a desk job earner. During those days his wife had to do overtime to keep their bank balance up. He faced mental and emotional challenges which also often affected his family. But now he realizes that he has chosen an extraordinary career and is optimistic about becoming a success, but working without a net is an ongoing risk.
4. Planning Ahead And Do Not Give Up Much: Tim Moylan, co-founder of Shootsta (a subscription-based video solution) said he had not to sacrifice much to start or grow his business although he had to spend a few sleepless nights. Many people sacrifice a lot by working long hourswith high job pressures and less job security. But he also advised to start a company as a side business and grow it until it becomes a full-fledged full-time job. Tim says every circumstance is different, and in some instances sacrifice is inevitable. Every entrepreneur has to bear a cost to lift their business, but a clever entrepreneur can avoid sacrificing a lot and still could become a successful business person.
- Halaxy Founders Gave Up Cooking Gas As they Couldn’t Afford It: Alison Hardacre, co-founder and managing director of Halaxy recalling the old days with Lachie (nine years ago) told how Herculean a task it was to launch a start-up when there was no such culture. She also told how they had to face several roadblocks to establish Halaxy (A health tech farm in Australia). Their friend circle was very pessimistic on their start-up idea and suggested them to get back to corporate jobs. There was a time when they had no money even to buy underwear or to pay for gas.