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It looks very alluring from an outer circle- sketching equations on whiteboards, nasty all night sessions of coding while crushing through the cartoons of Brewers or Red Bull, receiving and dialing n number of call calls, taking your company to a billion dollar platform within a fling and the best part is living your dream life.
However, the real part is hidden from everyone apart from the Entrepreneurs who know it takes countless sleepless nights, constant stressed-out days, less or even no time for relationships and health and the ever poking reminders from your soul that you are now responsible for all your investors and employees because you have decided to do this!
And being an entrepreneur myself I have been through all blues to achieve what I wanted to- to establish what I ever dreamed about! The path of glory is full of pitfalls but how you come out and deal with them makes you either survive the battle or crash forever. So here are Dos and Donts for all the emerging Entrepreneurs from a real-time experience:
Lets talk about the DONTS first
1. NEVER HESITATE TO SEEK HELP AND FEEDBACK: An entrepreneur should first learn to take suggestions and help, and should shed all the hesitations and grab every opportunity to learn. There should be a constant loop of feedback's from its employees, investors, and stakeholders.
2. SUCCESS IS NOT AN OVERNIGHT SHOW: Be focused with a long-term vision and true determination. It will take time but patience is the key for you. Dont expect success overnight.
3. DONT LET THE INVESTORS AND STAKE HOLDERS CONTROL YOUR COMPANY: Build healthy relationships with your investors, after all, you need the magic paper from them, but this doesnt give them the right to mold your company. You are the best person to take decision for your company.
4. STOP BEING AFRAID AND BREAK THE RULES: Do what you fell is good for your company. And you know what this is the best part of being an entrepreneur- you set your own rules.
HERE COME TO DO LIST
5. DO WHAT YOU KNOW AND ARE BEST IN: Do not enter the industry you dont know about because there is no substitute for experience. Start your business with something you really want to and you know the in-out well so that you can explain your vision to your clients, employees, investor, and stakeholder.
6. HIRE PROFESSIONALS ACCORDING TO THE PRECISE REQUIREMENTS: Time, quality and cost are supposed to be three major factors responsible for the success or failure of any organization. Invest for the best quality of professionals out there rather than hiring a folk just to make your work place look like an organization because the key contributors are your employees and this would ultimately upgrade the quality of your startup.
7. RECOGNIZE YOURE MISTAKES AND NEVER HESITATE TO LEARN:Entrepreneurship is a complete leap into something that you are not completely pro at- this means you are open to mistakes. Never ignore your mistakes correct them with a better resolution. You should always know when to hold and when to fold.
8. TAKE DECISIONS AND BELIEVE YOUR GUTS: No one ever promised you success for sure. Wrong decisions are better than no decision at all. Have the courage to follow your guts as this journey is all that you have ever thirst for.
It is a journey of transforming your vision into the reality and being an Entrepreneur takes a lot of guts as there is no shortcut for the success and we at Symphony understand this. We have helped more than 100+ startups to turn into organizations. Here are few of their success stories
