Startup—the qualities needed and the nuances

The question often comes to our mind how serial entrepreneurs are able to do so much. There is always different something different about people who are able to start a business, make it successful ,then pivot it to something entirely new and be just as successful all over again.

Success of an entrepreneur often depends on his/her ability to understand what goes into success in the first place.

If one has the expertise in a particular field, it can be used to build a successful business. It will facilitate to find something that one is passionate about. Passion will help the entrepreneur to carry through the challenging parts of the journey. Passion and expertise will enable developing a vision. Business always needs innovation and people who are expert in a field aren’t always the ones who have the best and most innovative ideas. It is important to search for areas of overlap. This is possible by tapping into the power of network. One’s own network can make the valuable introductions, contribute financially and most importantly provide realistic experiential advice. It is also important to expand one’s network and forge new connections and meet specialists who would love to explain their field to an interested audience.

With enough hardwork and creativity, one will be in a position to even innovate more effectively than those who have been in this space for years. What is needed is a heavy dose of paranoia and curiosity. There was a time when entrepreneurship felt like an IIT exam. People were hiding their own answer scripts. Today, the scenario has changed and the people are constantly helping each other.

If we think about what it takes to be a successful entrepreneur in 2019, the most accepted answer is Vision and relationship. Now what is equally important is access to technology The game of the Indian startup is changing. The second time founders have a better ability to raise capital, build better products and get better partnerships with merchants and bankers. This will make the game even harder, because the quality of people needed will be superior.

There comes a point, when things are not going the way one had planned. Reality hits hard when one sees their peers doing well in their corporate jobs and a self doubt comes in regarding decision to plunge into starting a business. This sinks in further when one has to expectantly wait for returns to emails from people in the network.

It is important to understand that superheroes are just normal people with super normal willpower to never give up. What is needed is just to push oneself to the limits possible to deliver. Building business is like boxing –unless you don’t get punched enough, you won’t become a champion. While passion is important, the fire of persistence is needed to make it big

1 comment

Leave a Reply

Your email address will not be published. Required fields are marked *