What they don't tell you about entrepreneurship | Mark Leruste | TEDxCardiff

Summary

In this TEDx talk, the speaker candidly shares the reality behind the glamorous facade of entrepreneurship. Despite the allure of freedom and success, the journey is often lonely and stressful. The speaker challenges the trendy image of entrepreneurship and highlights the importance of vulnerability and seeking help. They argue that the true motivation for many to start businesses is a deep-seated desire for purpose and meaning, which can be found in various forms beyond entrepreneurship. The talk encourages listeners to follow their curiosity and embrace small steps towards their personal quests, ultimately contributing to a better world.

Takeaways

• 🌟 Entrepreneurship is often perceived as a glamorous and successful lifestyle, but it can be lonely and stressful.
• 🚀 The rise of superstar entrepreneurs like Elon Musk and Richard Branson has made starting a business seem attractive and cool.
• 🤔 Many entrepreneurs struggle with feelings of loneliness, stress, and financial worries, despite the outward appearance of success.
• 📉 Statistics show that a significant number of businesses fail within the first 18 months, and entrepreneurship is not as easy as it seems.
• 😔 One in three entrepreneurs experiences depression, highlighting the mental health challenges associated with starting and running a business.
• 🌍 The desire for purpose and meaning in work is a driving force for many people considering entrepreneurship.
• 📊 A Gallup study found that 87% of workers worldwide feel emotionally disengaged from their work, leading to a search for purpose.
• 🛸 The allure of entrepreneurship is not just about fame and fortune but also about fulfilling a deeper yearning for a sense of purpose.
• 🔍 Finding one's purpose doesn't have to be about discovering the meaning of life but can be found in smaller, meaningful quests.
• 🚀 Starting a business or pursuing a bold idea can be rewarding, but it's important to recognize the challenges and seek support when needed.
• 🌱 Trusting one's curiosity and interests can lead to finding a personal quest, which may or may not involve entrepreneurship.

Q & A

What is the main theme of the TEDx talk?

The main theme of the talk is the reality of entrepreneurship, the loneliness and struggles it entails, and the importance of finding purpose and meaning in one's life, whether through starting a business or other means.

How does the speaker describe their daily routine?

The speaker describes waking up at 5 a.m. without an alarm clock, driven by passion, doing power yoga, taking a cold shower, visualizing goals, and consuming a green smoothie before most people check their social media.

What misconceptions does the speaker address about entrepreneurship?

The speaker addresses the misconception that entrepreneurship is always successful, glamorous, and easy. They highlight the loneliness, stress, and financial worries that entrepreneurs often face.

Why did the speaker quit their job to become an entrepreneur?

The speaker quit their job after a decade in the corporate, not-for-profit, and charity sectors, believing that being their own boss would bring them the flexibility, freedom, and success they desired.

What is the speaker's experience with social media and its portrayal of success?

The speaker has a successful social media presence, but they acknowledge that this portrayal of success is often a facade, as they struggle with the realities of entrepreneurship behind the scenes.

What statistics does the speaker mention about entrepreneurship in the UK?

The speaker mentions that out of 5.5 million businesses in the UK, 76% were started by people who employ no one but themselves, indicating a high level of loneliness in entrepreneurship.

What study did the speaker reference regarding entrepreneurship and mental health?

The speaker references a study by Professor Michael Freeman from the University of California, which found that one in three entrepreneurs experiences depression.

How does the speaker describe the rise of the superstar entrepreneur?

The speaker describes the rise of superstar entrepreneurs like Elon Musk, Richard Branson, and Steve Jobs, who have become the new aspiring celebrities of the 21st century, making entrepreneurship seem sexy and cool.

What does the speaker suggest is the true motivation behind people starting businesses?

The speaker suggests that the true motivation behind people starting businesses is a deeper yearning for a sense of purpose, rather than just the chase for fame and fortune.

What advice does the speaker give to those struggling with their entrepreneurial journey?

The speaker advises being vulnerable and open about struggles, as it allows friends to understand and offer help. They also encourage following one's curiosity and interests as a way to find one's quest or purpose.

What is the speaker's definition of a 'microquest'?

A 'microquest' is a small, personal challenge or goal that the speaker pursued, such as starting a drink startup in seven days with a hundred pounds, to answer a deeper question or satisfy their curiosity.

Outlines

00:00

🌟 The Illusion of Entrepreneurial Success

The speaker begins with a satirical portrayal of a successful entrepreneur's life, highlighting the disparity between the glamorous image portrayed on social media and the reality of the struggles faced. They discuss the loneliness, stress, and the constant worry about finances that come with running a business. The speaker shares their personal experience of leaving a stable job to pursue entrepreneurship, only to find that the freedom and success they imagined were not as straightforward as they seemed.

05:02

📉 The Harsh Reality of Starting a Business

The speaker delves into the statistics of business failure and the mental health issues that entrepreneurs often face. They mention the societal pressure to appear successful and the reluctance to admit vulnerability. The speaker reflects on their own experiences and the challenges of starting a business, including the unexpected loneliness and the difficulty of maintaining a work-life balance. They also touch on the rise of entrepreneurship as a trend and the impact of celebrity entrepreneurs on the perception of starting a business.

10:04

🚀 The Quest for Purpose Beyond Entrepreneurship

The speaker explores the deeper human need for purpose and how it drives people to take risks and pursue bold ideas, like entrepreneurship. They reference a Gallup study on worker engagement and discuss the millennial generation's search for meaningful work. The speaker shares personal anecdotes and examples of 'microquests' that bring a sense of purpose and fulfillment, emphasizing that purpose can be found in various forms and does not necessarily require starting a business.

15:05

🌈 Embracing Curiosity and Finding Your Quest

The speaker concludes by encouraging the audience to follow their curiosity and interests as a way to discover their personal quest for purpose. They argue that small, deceptively simple actions can lead to significant achievements and a sense of purpose. The speaker shares the story of an individual who painted 100 pieces of art as a way to express gratitude, illustrating the power of personal quests. They end with a call to action, urging everyone to start their own quest, regardless of its size or nature, to contribute to a better world.

Keywords

💡Entrepreneurship

Entrepreneurship refers to the process of designing, launching, and running a new business, which often involves risk and innovation. In the video, the speaker discusses the challenges and misconceptions of being an entrepreneur, highlighting the loneliness and stress that come with it, contrary to the glamorous image often portrayed on social media.

💡Social Media

Social media platforms are websites or applications that enable users to create and share content or participate in social networking. The video script points out how social media can create a facade of success for entrepreneurs, leading to a false perception of their reality.

💡Loneliness

Loneliness is a feeling of sadness or distress about being alone or lacking social connections. In the context of the video, the speaker contrasts the public perception of entrepreneurs with their personal experience of loneliness, emphasizing the isolation that can come with running a business.

💡Success

Success is the achievement of something desired, planned, or attempted. The video challenges the common definition of success by showing that it's not always about wealth or fame, but rather about finding purpose and meaning in one's work or life.

💡Vulnerability

Vulnerability refers to the state of being open to attack or harm but, in a personal context, it means the willingness to reveal one's true feelings or weaknesses. The speaker encourages entrepreneurs to be vulnerable and share their struggles, which can help them find support and understanding.

💡Purpose

Purpose is the reason for which something is done or created or for which something exists. The video emphasizes the deep human need for purpose and how it can drive individuals to pursue bold endeavors, including entrepreneurship.

💡Microquest

A microquest, as introduced in the video, is a small, manageable goal or challenge that can bring a sense of purpose and fulfillment. It's a concept that encourages individuals to find meaning in smaller, achievable tasks rather than focusing solely on large, life-changing endeavors.

💡Quest

A quest is a long or eventful journey or pursuit, often with a specific goal in mind. In the video, the speaker uses the term to describe the personal missions or projects that give individuals a sense of purpose and drive.

💡Mental Health

Mental health refers to an individual's psychological and emotional well-being. The video highlights a study that found a link between entrepreneurship and mental health issues, such as depression, suggesting that the pressures of entrepreneurship can have significant impacts on one's mental state.

💡Work-Life Balance

Work-life balance is the equilibrium between an individual's work responsibilities and personal life. The video script discusses how entrepreneurs often struggle to maintain this balance, leading to a focus on work at the expense of personal well-being and relationships.

💡Aspiration

Aspiration refers to a strong desire to achieve something or to be a certain way. The video explores how the rise of superstar entrepreneurs has inspired a new generation to aspire to entrepreneurship, often in pursuit of fame, fortune, or a sense of purpose.

Highlights

The speaker's life appears successful on social media, but they admit to feeling lonely and stressed about finances.

Entrepreneurship has become trendy, but it's not always as glamorous as it seems.

Many entrepreneurs struggle with mental health issues, including depression.

The rise of superstar entrepreneurs like Elon Musk and Richard Branson has influenced the perception of entrepreneurship.

The pursuit of entrepreneurship is often driven by a deeper yearning for a sense of purpose.

Having a sense of purpose is linked to better mental health and even a longer life.

The speaker shares their own experience of starting a business in a week with a small budget.

The speaker emphasizes the importance of following one's curiosity and interests as a path to finding one's quest.

Starting a business is not the only way to find purpose; it can be found in various aspects of life.

The speaker encourages everyone to start their quest, no matter how small, to make the world a better place.

Entrepreneurship is often misunderstood as a path to fame and fortune, but it's more about the pursuit of a meaningful quest.

The speaker challenges the notion that finding one's purpose means discovering the meaning of life.

The speaker suggests that small, curious interests can lead to significant quests and a sense of purpose.

The speaker shares a story of a woman who painted 100 pieces of art to express gratitude, illustrating the power of personal quests.

The speaker advises to trust the breadcrumbs of curiosity, even if they seem unrelated or intimidating.

The speaker quotes Paul Graham, emphasizing the importance of starting with small steps to achieve big things.

Transcripts

[Applause]

at tedx about to give a killer talk

if only they could see me now

next stop oprah

hashtag livingthedream hashtag winning

crushing it

how could i forget

[Laughter]

my life is amazing

i wake up

at 5 00 a.m

every day with a big smile on my face

and that's without an alarm clock

and you know why

because my passion wakes me

you see after an hour of power yoga i

hop in a cold shower where i visualize

my goals before i jump on a podcast

and green and green smoothie

that's before most of you have even had

time to scroll to your first social

media feed yes

unlike you i have the freedom to decide

how i spend my days i go on holiday when

i want

where i want and for how long i want

but

you already know that because you

obviously following me on instagram

you see success

is my first

last

and middle name

yes

you've guessed it

i'm an entrepreneur

and i'm living the dream

it's funny

because it almost sounds true

and it makes me wonder who is that guy

well

that's me

at least

that's what you would think

if you looked at my social media feed

you see we're currently writing a way

where entrepreneurship is hip

and like any fad when it doesn't go to

plan

it's really easy to put a brave face

keep up appearances and pretend like

you're successful even if you have no

idea what you're doing

but when did it become cool to become an

entrepreneur

in fact who here runs a business

do you feel cool

because i don't know about you

but i do not feel cool

in fact most of the time

i feel lonely

i worry

i stress about money on a daily basis

and this was so not meant to be the plan

you see about a year ago almost to the

day

i quit a job after spending a decade

working across the corporate sector

the not-for-profit and the charity

sector thinking

that if i quit my job everything i ever

dreamed for in life would come true

because obviously being your own boss

means that you have the flexibility

freedom

and success is bottomless

well it wasn't the case

you see maybe what it looks like on the

outside through all my podcasts and

youtube videos

it looks like i'm having a ball at a

time

but i actually spend eighty percent of

my time

staring nothing but a screen

and sometimes i don't even bother

leaving the flat

or wash

but don't tell my girlfriend that

because she thinks i do

and this this got me thinking

it's it's the same thing that when my

friends call me up and say hey mark do

you want to catch up for a beer and i

say i'm sorry i've got other plans i'm

busy

but i'm not busy

i'm just really really worried about how

my business is actually doing

and so i feel like i can't share that

and this is something that i've seen

over and over again so i'm the host of

the most unpronounceable podcast ever

known to mankind as dyslexic i could

have picked a better name

the unconventionalists and effectively

what it is i get to speak to a whole

bunch of really exciting people from all

walks of life who've experienced

different levels of success

and let me tell you this

it doesn't matter if you're a one-man

band or if you're a business with a

thousand employees if you have a hundred

followers or if you have a million

the resounding feeling is how tough the

journey is and how lonely it can

sometimes feel

now if you look at the statistics it's

pretty scary out of the 5.5 million

businesses in the uk

76

of them were started by people who

employ no one but themselves

so it's a pretty lonesome journey to

save the leaf for almost three quarters

of us

and yet we feel like we can't open up

and talk about it

because

we've made up

that tears

don't sell

and so

we live with this dirty little secret

except this secret is something that

everyone who's ever started a business

knows oh too well

and i started thinking

if you look at the statistics

and you look at company house data

it looks like

actually

in 2016 it was another record-breaking

year

of 75 new businesses every single hour

that's insane

bloomberg says that actually eight out

of ten entrepreneurs failed within the

first 18 months

and there was a study by the professor

michael freenum freeman from the

university of california that basically

studied the link between

entrepreneurship and mental health

issues and he found that one in three

entrepreneurs experiences depression

when the hell did entrepreneurship

become trendy

especially when you look 20 years ago

and it was basically a bunch of geeky

guys living in a box staring at a screen

well

you see

when i quit movember

i thought

that everything was going to come to me

i could have never imagined that after

spending four years in a dream job as

country manager raising 2.8 million

euros for men's self hobnobbing with

celebrities being interviewed on

national television and being part of

incredible team all that to start my own

business would be so tough and lonely

so when my friends and family ask me so

how are things going

i smile

i grind my teeth and i say great

when really what i want to say is this

is the toughest thing i've ever done in

my life

i'm really struggling

and if you can relate to this situation

i want you to know that actually

being vulnerable and telling your

friends that you're hurting is the best

way for them to know you need help

and i know that's scary

but instead i've been guilty of putting

up a mask and feeding the myth

that being an entrepreneur and living

the entrepreneurial lifestyle

is the lifestyle we should all aspire to

and that got me thinking surely there

must be a reason why so many people are

thinking about starting their business

well

i think this is my opinion

that because of the thanks the rise of

the superstar entrepreneur including

elon musk richard branson and steve jobs

the rise of the superstar entrepreneur

has given birth

to the new aspiring celebrity of the

21st century

social media and front cover magazines

have labeled it that make it sound sexy

and they make it sound cool and you know

what it is

it feeds into our need to be recognized

to be famous to be rich

but is the allure of being an

entrepreneur

for the chase of fame and fortune really

all there is to it

no

it goes deeper than that

consider the gallup study that found

that 87

of workers worldwide feel emotionally

disengaged from the work they do

and as a self-proclaimed millennial

we've got a bit of a pick-off especially

when you know that millennials are the

most purpose-driven generation in

decades

so there's no denying that we're

currently facing a crisis at work when

it comes down to finding purpose

take a look at this mythical ad of a

dream job and for those of you at the

back we can't read it

men wanted for hazardous journey

small wages bitter cold long months of

complete darkness constant danger safe

return

doubtful

honor and recognition

in case of success

would you apply to that ad

well according to the book the hundred

greatest advertisements

five thousand men responded to sir

ernest shackleton's ad ahead of his

third expedition to the south pole

endurance in the early 1900s 5 000

people

and you know what else this ad could

apply to

you've guessed it pretty much any

startup or any new business or any bold

idea you come across

because the way that he sorted out these

5 000 applicants was by putting them

either in mad

hopeless or possible and if you've ever

tried anything bold in life you'll know

what i mean when i say it's very

difficult to know in which category you

come across so the question becomes why

would thousands of people want to join

sir shackleton down to south pole

and would this still be applied today

and if you think it wouldn't

think again

mars one a controversial dutch company

announced in 2013

that its mission was to establish a

permanent human settlement on mars in

2023

two men and two women would originally

sent and then four more would follow

every two years

the catch

there is no return expected to planet

earth

labeled as the one-way ticket to human

kite's biggest adventure

more than two hundred 000 people

registered their interest in 2013.

that's insane

so

actually why would people join sir

shackleton 100 years ago and the reason

why hundreds of thousands of people are

willing to leave everything behind to

join history to the chase for mars

is the same reason why so many people

are attracted to the idea of becoming an

entrepreneur

it's a deeper yearning for a sense of

purpose

now

professor steve taylor the senior

lecturer in psychology at leeds beckett

university said that not having a sense

of purpose makes us more vulnerable to

anxiety

boredom and depression

because baked in every single human

brain from our ancestors fighting off

saber-toothed tigers to us wrestling a

really bad wi-fi connection

we all have a desire for purpose

it's our thirst for a mission

it's a yearning for a quest and to

fulfill it

psychology science even went as far as

saying that having a sense of purpose

gives you a much better chance of having

a longer life than pretty much anything

else

so your life depends on it

it's a bit of pressure right

well that kind of pressure is exactly

where we go wrong about finding your

purpose you see what really bugs me is

that people make up that when you talk

about finding your your meaning of of

being or your purpose you've got to find

the meaning of life you've got to find

the meaning of your life

and that's a really big ask the way i

see it is that if it was a thorny issue

for aristotle then i should probably

keep it simple

and if you don't know what a quest is

and you don't know what purpose is

look around you they're everywhere

they're in the books you read

in the stories you tell

and the movies you watch

i've been obsessed with this concept of

quest and finding a quest

and i've spoken to hundreds of people

who started theirs and this is what i've

learned

they come in all shapes and sizes

they're not measured by how impactful

they are but rather how they make you

feel

when you think about them

when you're actively pursuing them

i want to give you an example of a

really small quest what i've come to

label microquest now you see a few years

ago i had this really stupid idea to see

if i could start a drink startup in

seven days with a hundred pounds

and this was while i still had a

full-time job by the way so i'd wake up

at 6 a.m do recipes i was traveling try

and cross the border of belgium with one

kilo of protein powder in your bag

and the crazy thing is that i ended up

working my butt off for seven days went

to a festival in the woods and i sold

all my plant-based protein shakes

i made a whooping net profit

of nine pounds

it was the happiest i'd been of course i

had no idea if it was going to work but

actually when you look at it i was

trying to answer

a deeper question

is it possible

to start a business in a week with a

hundred pounds or less

now

i can't tell you what your quest is but

i can tell you what it feels like in

case you hear it knocking on your door

it's something that for whatever reason

is grabbing your curiosity even when you

don't want it to perhaps you're thinking

about it when you're in the shower or

maybe it's something to do when you're

doing over the weekend but i'd like to

share with you another example

take laurie podga

who for a year and a half decided to

paint 100 individual pieces of art for

100 people in her life who meant

something from her husband to a

hairdresser to the mechanic

her quest was to express her gratitude

through her art

and in the end she brought all these

people together in a really emotional

exhibition in a hometown of north

carolina

now you see this yearning we have of

having a quest having a purpose is at

the heart

of why so many people believe

that starting a business is the only way

to get that sense of freedom adventure

and purpose

but it's not

of course it can be and admittedly it

has been for me

yes a year ago when i quit my job to

start my business it's been the hardest

thing i've ever done

but it's also been the most rewarding

thing i've ever done

and this is what i've realized is that

actually

you think you want to start a business

but what you're actually looking for

is a quest

you can find purpose and meaning working

with an organization and you can find it

on your free time and you can find it on

the weekend

if you don't know where to start which

tends to be the majority of everyone i

speak to

trust the things that you're curious

about follow the things that you're

interested about

those are your breadcrumbs don't dismiss

them they sometimes feel like there's no

way i could be interested in barbecues

or violin

and next thing you know they lead you to

your quest those are the breadcrumbs

trust them

and if they scare you

that is so good

because what scares us most is most

often what we most need to do

take paul graham

the co-founder of white combinator the

most sought after startup accelerator in

the world who said it seems in order to

do really big things

you need to start by doing deceptively

small things

so whether your quest is an

entrepreneurial one or not i urge you to

start today

don't wait

because if everyone had a purpose

no matter how small

the world would be a better place for us

all thank you

[Applause]

you