Being an entrepreneur is a dream for many and I truly believe that startups will save our country. But rarely do we ever discuss the challenges that come with being your own boss (and the boss of 5 others).
I launched my first venture at only 21. My marketing was on point, I was making sales from the second month and many of my acquaintances seemed envious of whatever success that I got :P. But behind the scenes, it was like riding on the back of a roaring lion that could devour me at any moment.
Now, after several years, I am back in the same boat as a “co-founder” and I am so grateful for everything that I learnt from my first ever venture, including, the on-ground reality of the ins and outs of running a business that no MBA class could ever teach you.
Here is what I learnt:
- Having a Business Partner is crucial
Having the right partner who compliments your abilities is God-sent. When ami said aik aur aik gyara hotay hain she was dead-on. :P.
- The Power of Teamwork
In my first business, I did everything singlehandedly, from buying raw materials, to designing to photo-shoots and sometimes even modelling and it drove me crazy. Your employees/co-workers are your best assets and nothing great has ever been achieved without teamwork.
- Be a giver
Many startup owners think of generating profit too soon without focusing on providing something of value. Your vision should be priceless and your product invaluable. The revenue will follow.
Considering your startup as an isolated island can be detrimental to your success. All the successful start up hubs in the world espouse to transparency, collaboration and thinking about the overall good of the society/community that they are a part of. It important to consider what problem are you solving and how many would benefit from it? And of course, the secret ingredient to any great company is daily mega-doses of passion. If you are a start-up with any pearls of wisdom to share, please go ahead.