So you want to be an Entrepreneur....here are few things that could be of help

So you want to be an entrepreneur. Don't know where to start? When to start? Not quite sure about the challenges...well here are a few questions to start with...although not quite in an order of importance but worth considering.

1. When is the right time to start?

There is no better time to start than now. All you need is a strong desire and belief to start. Neither is it too late to start. Don't believe. Check this out.

2. Do you bootstrap?

Well if you don't, then learn. In general parlance, bootstrapping usually refers to a self-starting process that is supposed to proceed without external input. Many of today's largest companies started with bootstrapping including the likes of Apple, Dell, Zoho - Bootstrapping had a major role to play in their success. Hence it is important to learn to live and survive with bare minimum for the initial months and years. Whatever you earn you invest back not much goes into your pocket.

3. Can you think about family - rather the extended family?

Family includes not just your immediate family but also the families of employees you are going to employ. As an entrepreneur its the biggest responsibility you undertake. You are not just creating job opportunities but creating livelihoods. The employees are going to depend on you in the same manner you are going to depend on them. Are you willing to commit?

4. Where's the money, honey?

Though it's true, not to think about money initially and focus on creating meaning and value, there will come a time when just bootstrapping will not be enough. The revenue has to start ticking at some point. If your venture is not able to sustain and grow itself, be prepared for the worst. A lot of startups unfortunately had to down their shutters for failing to see sufficient revenue generation. It's all about survival of the most adaptable and fittest.

5. Should I share my idea? What if anyone steals it???

Definitely. You should share your idea. First for the simple reason when your idea passes into the experienced hands it gets tested and validated. Secondly you need to know that the world is big enough a place for someone somewhere to think on the lines you do although there maybe variations in taking the idea to its logical conclusion. Thirdly, if it does get stolen, celebrate for your idea has found takers and its worth every bit. Time for you to gear up and move forward.

6. Are you willing to shoulder responsibility and shoot the trouble out?

Overhead costs, infrastructure issues, employees not turning up for work, bills paid/ unpaid, dues payable and receivable, productivity and many such things which are bound to consummate the employer unlike the employee. Atleast, in the initial phases when things are being fleshed out and systems and processes being put in place. Taking care of all these whilst focusing on the startup is daunting task. How willing and able are you to manage and sail the ship through?

There are many more questions to answer. The list is indicative. No need to say if you have ticked the "Yes" block in your mind for all the questions...it's high time to get started. If not it's time to reconsider your decision.

Day 9 - The Power of Understanding

The words “I understand” hold immense power. In the TV show Two and a Half Men , Charlie Harper often uses this phrase, sometimes with humorous intent. But beyond the humor, these two simple words—"I understand"—carry a depth and magic that is often overlooked. Understanding is the first step toward empathy. It reflects a willingness to connect with another person's experience, their emotions, and their perspective. Yet, to truly understand, we must pause and reflect on what we mean when we say it. Do we really understand what the other person is going through? Are we merely acknowledging their words, or are we trying to feel what they feel? True understanding isn’t about sympathy or offering solutions. It’s about resonance. Do we truly feel the depth of someone’s anxiety or pain, or are we simply familiar with the emotion? Does understanding require us to have lived through similar circumstances, or is it possible to grasp the weight of another’s experience even...

The Trap of Who vs. The Power of What

In any conversation, debate, or discussion, we often find ourselves fixated on who is speaking rather than on what is being said. The easiest response is to judge the messenger, dismissing their words based on our perception of them—their biases, history, or even our own prejudices. This reflexive focus on 'who' rather than 'what' creates barriers to understanding and blinds us to the essence of the message. The Judgmental Trap When we become obsessed with the speaker rather than their words, we risk falling into a judgmental trap. We start assessing their intent rather than engaging with their argument. We question their credibility, label them based on past interactions, and dismiss their perspective outright. In doing so, we fail to listen. Every speaker, no matter how well-intentioned or knowledgeable, is inherently flawed—just as every argument, no matter how sound, carries its own set of assumptions and imperfections. But if we allow our perception ...

You Are Not The Only One

You just stumbled upon a brilliant idea. You have to come to believe its a gem of an idea. You have a strong intuition its going to be game changer. You want to turn it into an enterprise. You are excited, since your long cherished entrepreneurial dream is now sure to see daylight. You start putting things in place in run up to your dream venture. You are fiercely protective of your idea and taking every precaution to not let it out. Somehow you believe, you are the only one ever to think about it and if you do share it with someone else, chances are - they may rob you of the idea. So you are not willing to let your guard down. And therefore are reluctant to share, discuss and deliberate the idea with anyone else. At times, even with some who might help you shape and execute the idea. The anxiety and the insecurity of loosing your baby (that too even before its been thoroughly conceived) holds you back. If this is what you have experienced and this what you still believe. Let m...

Connecting with thoughts - My thoughts and Me

Search This Blog