A random post on what might be possibly driving entrepreneurs to awesomeness! And my random thoughts to go along with the post.
To be an entrepreneur, one would need to step aside, be ready to march forward only with one’s ideas. It becomes easy, if the society has the entrepreneurial spirit, else it would be a battle to rise among a crowd which really doesn’t facilitate that. Its easy to sink, go back to a cave and allow oneself to be led by others, if one doesn’t have the mindset to accept failures and keep moving forward. Fear of failure might be necessary, but should not be the primary concern. Instead of thinking what can’t be done, one can get a better result by focusing on what can be done.
I am not implying that working for someone is evil and by being an entrepreneur you are escaping that. At some point of time in your life, you are bound to be working for someone at some point of time (if you want to make money). The artist sells his creative work to make money, exhibits his work to make money, gain recognition, and fame. Even the researcher who is ideally working on his passion is answerable to some funding source. Working for one’s own satisfaction without expecting monetary benefits is possible only when you are either basic human necessities are taken care off or you are ready to accept death. The best mode is to survive and also doing what you want to. Its the common tendency for an individual to hold back from taking charge of his life due to various pressures, commitments, and the need to take care of the more “important things in life”. I am not asking you to run away from your personal responsibilities, go ahead and take on the world with what you want to do. Take a break, balance the equation, set things right but don’t forget to strategically move your ideas. If you are in need of money before starting off what you want to do, get a job, make the money! But don’t forget why you took the alternate job, its important to enter and start but even more to exit at the right time. Identifying what you want to do in life is extremely important, and you might have to let go the fear of failure. Its equivalent of planning a vacation. You reduce your spending over a few months, balance it out, take care of things and set it in order before you can take your vacation, so that the rest of your important things can work the way it is supposed to and would need little attention from your end. And if you can never take a vacation, you either take the risk pill or keep whining about not being happy with what you do.
Its important, to know what one’s strengths are, and have a team who have the other strengths. When you work as a team, you are moving forward because you now have the gears of the right size, fit, and speed which help in moving the vehicle forward. People are often asked to “work on one’s weakness”. Is it really necessary? Its important to identify one’s weakness and improve, but its more important to keep building on your strengths. You need to tap into vital resources, mentors, guides, experts etc. Being an entrepreneur wouldn’t be that tough if you let go of your fear of failures, and what the world thinks of you. Get the negativity out! You only get stressed if you allow yourself to, moving forward or going back to a cave is completely in your hands.
This is what I think one should have the least to start off with.
- Planning
- Persistence
- Confidence
- Clarity
- Discipline
- Simplicity
- Patience
- Passion
- Calculated risk
- Strategic movement
- Put it in action
- Networking
- Start part time
- Spend time at start without expecting returns
- Identify strengths and weakness
- Observe the world around you
- Build a good team
- Be humble
- Don’t let negativity affect you
- Laugh at yourself and at your failures
ulag
January 24, 2011
A good article broadly outlining everything needed to be an entrepreneur. But out of all iv found that the most important thing is networking/connections. It really makes a lot of difference.
Another important point is having a Plan B. You must ALWAYS have a Plan B. Its easier said than done. But as an entrepreneur one must strive to have one as much as possible.
Another important point is that its good to build castles in air, but always have your feet firmly on the ground. In the sense that, its nice to think that your next idea will be earth-shattering and revolutionizing like Facebook or Groupon or something. But, never neglect the power of having small ideas which can slowly change the face of your business. There is no saying that you cant have a very successful business without some revolutionary sci-fi idea. If you do get such an idea, great. But even if you don’t it doesn’t stop you from being a successful entrepreneur. Mark Zuckerberg is not the only successful entrepreneur in the world. Think big, but don’t lose focus of the small.
Supreeth
January 24, 2011
I completely agree. Plan B is extremely necessary. Irrespective of whether you go solo or as a team. I also feel, its best to go as a team at start, so that you have another person to keep pushing forward when one loses a bit of steam. Its also important to pair up with someone who can make up for the skills that one doesn’t have. And also regarding the idea, its true that not all can hit on one break through idea. According to me, in a country which doesn’t have that vibe, it would be best to start off by packaging off a service and offering it to customers. Networking, is the number one thing! Without people knowing you, how will you spread? You need to be known, they might not be of any help at the present moment, but if you are in constant touch with people and really good at networking, they are bound to keep you in mind.
Aditi
February 1, 2011
Supreeth , wow thats a long post, I will have to read it in my free time . Meanwhile thanks for visiting my blog . Therefore you are mentioned in this blog post. http://twilightreadings.wordpress.com/2011/02/01/hello-february-meet-your-friend-january/ Thanks once again
Aditi