Entrepreneurship Zone – A few tips for a smooth ride!
Entering the E-Zone?
Well, Entrepreneurship can be a treacherous path. Success here often comes with learning from various mentors who have been there and done that. Finding a mentor can be the biggest boon to a new entrepreneur, but it isn’t an easy prospect to find the blend of all experience in one person.
If you are an entrepreneur, struggling to carve your niche, here are a few tips that can surely help you get started with a bang!
Treating the life like one long learning process is the key… You never reach sacred place called “THIS IS IT”… No place like that exists… the biggest motivation is to keep challenging yourself; Learn and evolve with each day.
Do work you love.
Entrepreneurship is a never ending pursuit. So, to keep going you must pick work that you really care about because at the end of the day, it will remain the single most motivating factor.
Take the risk.
Success and failure are the two sides of the same chance we take… either of the two must happen. But for the fear of failure, if you don’t try at all, you are indirectly nullifying the chances of success as well. We do not know what is store for our efforts unless we actually do it. So, go ahead, take the risk.
Believe in yourself.
Once you decide to set out, the most important thing is to have belief in yourself, abilities and strengths. It is purely a mind game most of the times… If you think you cn do something, but if you think you can’t, you never can! Once you start ahead, the only question should be, ways through various obstacles on the path.
Find good people.
Find interesting people to hang out with. By interesting, we mean people who have travelled on the same road as you earlier and have reached a certain mark, people who have succeed stories to share. After all, who you hang out with is who you become!
Too many meetings, brain storming and thus too many ideas? You know not how to handpick from those… but you got pick the right one and take action, because that is the access to success.
Invest the time.
No success has really come overnight. There is a lot of effort, time and struggle behind that seemingly overnight success stories we hear. Each one who has shot to the top was once a fresher and a new bee. Be prepared and willing to give it the time to manifest results.
Energy management and not time is the new mantra.
A lot of time and no energy is a disastrous fail. So, rather wafting your energy on managing time, you may rather manage your energy right!
Build a great team.
Alone is not a recommended way to travel. Well, not in entrepreneurship. Invest time and money to build a great team. It boosts confidence and spikes up your success rates.
Skill is easy to find as compared to values and commitment. Hire people with good ethical values coupled with skill. Skill is something they can be trained on.
Prepare raising capital.
Right from the scratch, prepare your business plan in such a way that in the long run it should be able to attract the venture capitalists. In reality its harder to raise capital than we expect it to be. It is best to be prepared for that.
Learn from mistakes.
The best way to move closer to success is to learn from your mistake. You may fail initially, sure, but eventually all the learning will take you a long way forward towards your success highway.
Know your customer.
This is crucial! Knowing your customer would sort great many things and puts things in perspective. Once you pick your customer group, you will be able to figure how best can u address their issues and deliver the right solutions.
Learn from complaints.
Many popular business entities have quoted that,it I syour dissatisfied customers and critics who can provide immense learning. Listen to their criticism keenly and welcome it to really see where your product/service is lacking. This gives a scope for continuous uogradation.
Customer feedback: High priority.
Make sure you invite this – from time to time. Period!
This is what we mean by it – Too much wasteful expenditure on unimportant stuff and lack of budget left for more important stuff. Prioritize well and spend wisely.
So, does it sound like too much to do? Well, yes! It is a continuous process and takes a lot of trial-error and loads of patience. But once these few aspects are taken care of, there is no stopping you!