By Chandran Iyer

After working in different Technology companies , Shekhar joined a multinational  firm and was very happy that the company had offered  him a very good salary package.  He had managed to extract nearly 100 per cent hike over his last salary and felt that life will be beautiful in the new company. He celebrated his achievement at a pub clinking glasses with his friends. His dopamine level was at his peak.

But within a month’s time, his euphoria faded. He had a good salary packet and perks, but he had no time to enjoy. While the office was paying him well, the work that he had to put in was enormous. .  His boss was a bully who was overloading him with work.  Shekar’s work life balance was on a toss. Even when he was going out with his girlfriend on weekend, his phone will ring and his boss will bark at him demanding completion of task.

Shekhar wondered, wouldn’t it be nice to be an entrepreneur and be his own boss? After all, there will be no boss and there will be enough  quality time to enjoy.

Are you thinking of quitting your job and becoming an entrepreneur mainly for this reason? If your answer is yes, then understand these myths before quitting your job:

Myth Number One : As an Entrepreneur, I am not answerable to any boss. Remember that you are answerable to your client.

Myth Number Two: I will not have work or performance pressure. Remember when you are an employee , you are working in a system which creates money. As an entrepreneur you have to create  a system which is not easy.

Myth Number Three: I will have enough time for myself. No, you won’t.

Myth Number Four ; I will earn a lot of money.  Remember 90 per cent of the start ups fail.

Does it mean that one should not become an entrepreneur? That is not what I am suggesting. All that is needed is to take informed decision. Even if you know swimming, it is not advisable to jump into unknown rivers. There may be crocodiles, current or other dangers.

If you transition from Employee to Entrepreneur correctly, then it can be the biggest game- changer.

Lesson No 5: Never Test How Deep the Water is with both feet. Before you  become a full time entrepreneur, have a part time source of cashflow.

( I am a journalist who transitioned from being an employee working in India’s leading media houses to become a Media Entrepreneur.  If you are an employee thinking of becoming an entrepreneur Feel free to connect or Follow me on LinkedIn)