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.

The Power We Yield - A Reflection on Meiyazhagan

I recently watched a Tamil movie that left me reflecting deeply on the intricate, often unseen threads of connection that bind us to others. Despite having watched it twice and appreciating its nuanced storytelling, I still struggle to pronounce the name of the mysterious relative, Meiyazhagan . The name may evade me, but the emotions it evokes resonate deeply. The story unfolds with Arul, a man who embarks on an emotional journey to reconnect with his roots. During his visit to Thanjavur, Arul is shown his childhood bicycle, now a cherished relic in the home of a relative he barely remembers. The bicycle, meticulously maintained, symbolizes resilience and love—it once served as a livelihood tool for the family and now stands as a "god" in their household. The relative, referred to as Nandhini’s husband, shows unwavering affection and generosity toward Arul, despite the latter's inability to recall his name or their shared history. This anonymity does not dimi...

Day 19 - The Power of Multidisciplinary Approach

In an era of specialization, many of the world's most successful people advocate for a broader, more holistic view—one that embraces a multidisciplinary approach to life. This approach involves combining knowledge and skills from various fields, leading to better problem-solving, creativity, and adaptability. Think of a Renaissance person like Leonardo da Vinci, whose expertise spanned art, science, and engineering, shaping innovation for centuries. Today, the importance of a multidisciplinary mindset has become even more crucial in navigating the complexities of modern life. The Impact of a Multidisciplinary Approach David Epstein’s book, Range: Why Generalists Triumph in a Specialized World, provides compelling arguments for why those who explore a wide variety of interests often outperform their more specialized peers in the long run. Epstein highlights examples from sports, business, and science, showing that people who dip their toes into different fields are often...

The 70+ Hour Work Week Debate: An Intentional Grab for Attention or a Serious Commentary?

The recent debates surrounding the idea of a 70+ hour work week have sparked intense reactions, drawing both applause and criticism. While some view it as a badge of honor for high achievers, others see it as an outdated notion that glorifies burnout. But a deeper question emerges: is this debate merely a deliberate attempt to grab eyeballs and enjoy a fleeting hour of glory? In today’s media-driven world, controversial statements often gain disproportionate attention, flooding news feeds and capturing the public’s imagination. Leaders making such proclamations may find themselves in the limelight, relishing the buzz around their bold, albeit polarizing, remarks. But at what cost does this attention come? The Underlying Risks and Downsides The glorification of excessive work hours raises several pressing concerns: Burnout Culture : Does endorsing 70+ hour work weeks perpetuate a culture where exhaustion is equated with success? How does this impact mental health and well-be...

Connecting with thoughts - My thoughts and Me

Search This Blog