Take that chance – it’s worth it!

If you are at that stage of your life where you think you want to do something different, something that has been on your mind for a while, something you wish you could do – JUST DO IT.  Naaaaa, this statement isn’t convincing enough by itself.  I myself wouldn’t act upon it.  Therefore, I have tried to put down a reasoning below for why you should ‘take that chance’ whether you are a young boy walking out of college or old man heading for retirement.

Let’s say, you are young and would be soon stepping out of your incubator to see the real world.  Isn’t it worthwhile to ‘take that chance’ and spend a few years of your life pursuing something you really want to do!  Someone would argue here that what if it doesn’t work out, am I not wasting some of the most important years of my life to take a head start over my peers or atleast be at par with them.  My question to them is which race are you in, is it called ‘I would be happy to be just ahead of you’ or ‘I would be happy cause I did what I wanted to, by having the courage to ‘take that chance’’.

Let’s try to understand this by an example.  A, B and C complete their MBA and together graduate at the age of 22.  All three of them want to be an entrepreneur.  However, this is the path they take:

  • Because of the fear of failure, A takes a job with an MNC at the salary of 20 lacs per annum and continues to be in service for one or the other MNC for the rest of his life and retires at the age of 60 as a CXO of one of the companies.
  • B starts his own venture and after 3 years of hard work realises that he has failed.  No later, he joins an MNC at the salary of 20 lacs per annum and just like A, continues to be in service for one or the other MNC for the rest of his life and retires at the age of 60 as a CXO of one of the companies.
  • C too starts his own venture just like B but C is successful with his venture.  Initial 3 years are invested in building up the business and he starts earning only after 3 years ie at the age of 25. Since he was successful he has the option to exit it at high value, continue to keep growing his business forever and thereafter – he definitely doesn’t need my guidance on what he should do.
Particulars

Person A

Person B

Person C

Started earning at the age of

22

25

25

Pursued his dreams

No

Yes

Yes

Entrepreneurial experience at early age

No

Yes

Yes

Probability of being a billionaire

Low

High

(because of the venture)

High

(because of the venture)

Stability at the time of retirement

Yes

(retires as CXO of a company, so…)

Yes

(retires as CXO of a company, so…)

Yes

(probably retires as a billionaire)

A simple illustration above, may suggest that it’s always worthwhile to ‘take that chance’ – over a period of time there is no difference between A and B.  Rather, B may be rewarded to ‘take that chance’ as even if an entrepreneur fails – there are established business houses and growing start-ups who are ready to hire them with high salaries and perks for their entrepreneurial skills and experience (report from The Economic Times).  Hence, there is a probability that B might be better off than A at the age of 25 just because he had the courage to ‘take that chance’ at the age of 22.  Let me assure you, Person B is not just on paper, but they are found in real life as well and Tapas Dwivedi of Knowlarity in this ET report is just one such example.  After failing with his venture called dapple.in he joined Knowlarity to pursue his dreams.

Now, there can also be a situation where a person doesn’t have the gestation period to ‘take that chance’.  For instance, it is also possible that Person C would have never been able to ‘take that chance’ if he had a family dependent on him.  He had to earn to support his family as soon as possible ie at the age of 22.  He didn’t have that gestation period to venture out.  He would have then landed up being an employee like A and not a successful entrepreneur he could otherwise be.

So this part of the blog is dedicated to all those who couldn’t pursue their dreams due to such circumstances.  However, clichéd it may sound, I would like to say one thing ‘it’s never too late’.  Let me explain this as well.  Assuming C also joins an MNC at the salary of 20 lacs per annum at the age of 22.  However, unlike A, C doesn’t leave his dreams behind.  After having made enough money and experience till the age of 40 (enough money is a myth but what C knows is he can satisfy his own and his family’s needs even if he doesn’t earn for the next 3-4 years is enough money), C starts his own venture.  Now there are two possibilities, his new venture fails or succeeds.  Let’s understand the consequences of both with the matrix below:

Particulars

C continues with his job and retires at 60

C quits his job and starts his own venture at 40

Fails at the age of 40

Succeeds at the age of 40

Started earning at the age of

22

22

22

Pursued his dreams

No

Yes

Yes

Probability of being a billionaire

Low

High

(because of the venture)

High

(because of the venture)

Stability on retirement at the age of 60

Yes

(a decent job for 38 years will atleast give stability at retirement)

Yes

(a seasoned entrepreneur would be hired even at the age of 40)

Yes

(probably retiring with multi-million dollar empire)

There is virtually no difference in the life of C even if he fails in his venture at the age 40.  Let’s take a few real life examples over here:

  • Amarinder Dhaliwal: Appointed as Chief Product Officer at IndiaMART as per a news report in The Economic Times, Mr Dhaliwal has a history of cofounding a failed start-up.  DoneByNone was cofounded by Mr Dhaliwal after serving for over 20 years in media, finance and investment banking space.  DoneByNone was shut down after being in business for over 3 years.  Soon after, Mr Dhaliwal joined Micromax as COO and now IndiaMart as CPO.
  • Vikas Purohit: He recently quit Paytm to start his own venture as reported by The Economic Times. Before joining Paytm, he had served several MNCs ranging from Amazon, Tommy Hilfiger, Reliance Brands and Madura Garments for over 10 years.
  • Arnab Goswami: His journey from Times Now to Republic TV is as dramatic as his television debates.  Arnab’s journey in journalism has been a drive from traditional consensual discussion formats which only presented facts to his approach of taking a stance.  I must say Republic TV is already a hit.  However, assuming it didn’t turned out to be as successful as it did, do you think Arnab would have to struggle to maintain his life.

The above are just a few examples of people who had the courage to ‘take that chance’ in their 40’s.  Few were successful in their venture, whereas the others failed but were soon back in business or employment with senior position in well-known companies.

Therefore, whether you are a young boy walking out of the college or old man heading for retirement, it’s worth it to ‘take that chance’.

13 thoughts on “Take that chance – it’s worth it!

  1. Avinash

    Ur post has inspired me. I may or may not be successful down the line. “but taking that chance, oh! Yes, I will surely take it.

  2. Nikhil Jain

    Well written.. The best way describing through real life examples that why you should have courage to take that chance.. The best part “which race are you in”.. Definitely the one in which I’m happy doing what I want to..

  3. Rishabh Jain

    Very well written. .
    Its really intriguing to to know that a chance is always worth it. And it’s never too late to start

  4. Anonymous

    Very well written…
    Describes everyone’s situation in one way or another.
    Keep up the good work and post more articles like this

  5. breakthefog

    Let’s just DO IT!!! Go out there and create, make myself, love what we do, do what we love, have what we want and want what we have!!! Life is about… being so… Let’s JUST BE!!!

  6. Sydney Meek

    This is so well-written… and convicting! Sometimes we try to outweigh the good that could come from a situation with the bad, but we will just end up with regret. Taking a chance is ALWAYS worth it! Thanks for the reminder!

    Sydney Meek | meeklyloving.wordpress.com

  7. rspires811

    I thought this was a really great article. It is always worth it to take a chance. Things many not always work out but you would have learned a lesson that will help you when you try again.

Let me know your thoughts !!!