Becoming Entrepreneur

Entrepreneurship is the new gold world for this century, and every single individual once in their career dreams about it. Is it good or bad or ugly? It is hard to debate because of the pros and cons, but one aspect is consistent: it is a dream of this century.

There are often bigger rewards at the end of the stick, and most of us chase that reward by masking it with other words like passion and eagerness to change the world. But it is a stick; often, the cons far outweigh the pros, but what doesn’t in real life?

Let me give you some Entrepreneurship 101 -

1. Persistence matters - Everyone in the world talks about being persistent in any discipline that you like to succeed, but in the world of entrepreneurship, persistence is geared more toward how you deal with bad days.

   Why bad days, though - because when the extent of success is very high, the chances of it happening will be extremely low, and that’s what makes it tough to pursue, and the days are often worse than good.

2. Knowing the wind: Most of the founders I meet often try to solve a problem that might occur in the next five years or replicate something that is already solving a better problem. Now, there are no issues with either of them, but it requires an enormous amount of courage to wait for the market to change with time.

3. When to get out of the loop - Obsession with your product or idea is good, but it should have some validation from the market. It cannot be chasing the smokes and having no defined output that can be measured. Success might not happen in the initial few years, but it should surely have a glimpse of acceptance.

I hope this starts by giving some idea of how you need to prepare yourself mentally for the world of entrepreneurship, but if you are looking for how to break it, I have attached free resources from the Founders’ Institute (FI).

I had a great time mentoring over 37 firms in FI in the last couple of years, and one common pattern that I have realized is that ideas often come to the people who are looking to solve problems.

Please find the link here - it expires in two days

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