10 musts for Entrepreneurship.

 

  1. Hunger of success: It looks very cool to be an entrepreneur. But in real, its not. To be an entrepreneur it takes a lot of efforts and efforts are not only physical and financial. They include the mental workout. This mantle work out is not only the strategic decision making or planning. it iss facing the society, It involves kissing your own personal sacrifices, facing the financial crunch. it involves being with and being out of the society at the same time.
  2. Clear vision: Your vision regarding your aim shall be clear. Your aim shall be precise & time bound & Scalable. Simply setting a goal without analyzing its feasibility, Practicality & path is the biggest & most common mistakes people do. So have a clear vision about “What, How & When & Why” before you start.
  3. Enough Funds: Whenever we talk about any type of business, the first question which comes is of finance. Why finance is so important in a Startup? Actually without Finance practically nothing can be done funds are the first requirement to start a business. But there is good news, and it is that how you arrange the fund is up to you. I mean no business makes discrimination on how the funds have been arranged. the only thing you have to make sure is that, it should not make you fall in debt trap.
  4. Keep your mouth Shut: The Quality Which I am talking here about may look to be very awkward to you all but it is very important. I have seen a number of people who keep on talking that I will do this, will do that, and you want to do this and you want to do that, but they end up nowhere. I don’t say that speaking or preaching your business is wrong but until unless you sure about the thing and it is very essential for your business to speak it out keep your mouth shut. This will save your time and energy for your startup.
  5. Spend only on what is essential: As we have already seen. Number 3 that it is very essential to have enough funds for your organization. it is equally important to spend that fund very wisely. Every single penny wasted may be the cost of your dreams. I have often seen entrepreneurs waste the money on things which are of no use like having highest level office new laptop number of employees even if they don’t need it. We should keep in mind that every single penny that can be saved shall be saved because a penny saved is penny earned, and that way you can fund your startup or a little longer and who knows that one extra mile may bring you to the lawn of success
  6. Delegate Delegate Delegate : One very big mistake that entrepreneurs do is that they try to do everything themselves. It’s not the time to do everything yourself. Entrepreneurship means managing the people. You should respect the expertise of every field and try to get associated with the people who actually have them. if you handle everything yourself you will be over worked and burnt out. So you end up being inefficient & less performing.
  7. Learn everyday: Entrepreneurship means maintaining the business. Business is something which works in the social settings and social setting is affected by every single development in any single field. Let it be science commerce or humanity. So one should always be ready to learn. The day you stop learning, you stop developing and they you stop developing you start degrading and in that manner you bring your own end.
  8. Persistence, Persistence, Persistence:  All of us have seen a number of people or we may be one of them who say that the person is successful just because is lucky. The slangs in Hindi like “Kya Kismat hai yaar” are very common but little do people know that it’s not the luck it’s their persistence and hard work which have paid them. We always hear that 99 of the startup fail every year. But the question is, if 99% startups fail every year, have they given enough time to it. Was it a problem of planning or something else. Remember your startup will pay you only if you will pay him enough time money and hard work to it. A business which is closed within a year was never started.
  9. Keep yourself updated When I say you should delegate, I never mean that you should be arrogant. Keep yourself updated with every single development. Not only of your organization, but also that of the society and the world. Read newspapers. Business weekly is must you may be small today but you have to break the barriers. Keep yourself updated it will help you find the way towards greatness.
  10. There is no rule: The last rule which is the most important one and supersedes all the above is that “There is no rule” All you need is success in an ethical manner. if you can make it without following a rule, there is no harm. Remember “if you are successful, your strategy will become a new rule.” but also keep in mind “if you fail you will regret for not following the rules.” At the end I will say just follow your heart and forget about the rules.

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