By Divej Mehta
The best part of being an entrepreneur is to be able to live a journey that’s unparalleled. Especially when you are starting out young with the hunger seeking success and with no baggage of fear. Starting with an idea and betting everything on it to make it sustainable, scalable and profitable. Although there are fewer joyous moments in the early days of any business trying to survive and build its ground, it is important to know the details I’m going to share in this article, in hope that it will help you ease your journey to becoming what you dreamed of.
Start To Finish: Brace Yourself For What’s About To Come Next
Keep the long-term and short-term visions always in mind. The long-term vision is the one you ought to start with always, that’s your aspiration and that is the place you want to get to. But in getting there you’re gonna need shorter goals, they could be as short as a week. Make sure to evaluate each goal, it will help you stay on track if not, it will keep you aware. That’s going to be key, but remember don’t be too hard on yourself, some goals may not be achieved but that’s okay, you’re a step closer. Brace yourself for what’s about to come next, always make sure you’re ahead, be it your peers, employees or the market. For some it may come naturally, for others it may need some work. Read, listen and adapt is the best way to keep yourself ahead of the game, always.
Good things take time, we’ve all heard that right?! It’s true, try seeing it this way, 5 years ago I was at University perusing my MBA, and 5 years later I have successfully launched a footwear brand that’s retailing in over 20 cities in India. I did not know where my life was leading for the first 20 odd years. It is perfectly normal, but seeking opportunities in every of your life is whats important.
Dedicating yourself to a routine is important. Manage your time priority wise so you can make time for everything. A lot of people often complain about not having enough time, well, if you’d manage to fix a routine, you’d probably master the art of making time for almost everything. Give this a serious try, especially if you’d like to be a successful entrepreneur.
Listen, understand and do what you were going to do anyway. I’m known to do things my own way, even though I love taking advice. Why? It’s simple, no one will ever be able to give you the best solution other than yourself because I’m yet to come across an individual that has had the same exact circumstance or a problem like mine. Then why ask for advice? Because you learn more ways of solving your own problems. Most times you’ll need a combination of problem-solving options, you’ll get 2-3 opinions for you, but if you combine you’ll have plenty.
Don’t be afraid to let people go. I’ve seen many leaders depending on a few employees, it’s one thing to depend on an employee who likes to work independently and another to do the things which don’t align with your vision. It’s not always about getting the work done. Culture and Ethics will give your start up a solid foundation. Remember your are for the company and never the other way around.
Expect the worst outcome. A lot of people argue about this one, but to be able to survive the grind successfully, I believe if you’re okay with a decision’s worst outcome then there should never be a second thought. It is important to stay positive, but foolish to think that that’s the only outcome.
Never overlook an unresolved issue, we will always have a problem, can be with an employee’s attitude, an argument with a peer, a technical error which is very minor and feels like it could be dealt with later or something else. We usually tend to leave a smaller problem to be solved later, don’t make that mistake. Stop it the moment you discover it, don’t let it grow, because it will come back and you’d be surprised by the increased intensity of the problem you thought was small.
Make sure your books are always in order. Most young entrepreneurs tend to overlook their books because of having too much to do. Yes, there is too much to do always, but no it’s not okay to miss the most important part of your business. Be it taxes, be it a balance sheet or even a log book, it needs to be up to date in order for you to know where you stand. This will help you when you’re running out of funds and you’ll know in advance and will have time to act on the situation. It will also come in handy when you’re thinking of raising capital or funds.
Believe: It Is Important To Set Aside A Few Moments To Do Something You Enjoy
Don’t forget your me time. You can’t always work on full throttle. Having a routine is difficult for most aspiring entrepreneurs, given the amount of workload to be handled in a given number of hours. But it is important to set aside a few moments to do something you enjoy. Try to set a routine for yourself, meet friends over the weekends, watch a movie, listen to music, spend some quality time with your family. It will help you recover and allow you to function much efficiently.
Remember, it okay if a few decisions you make go sideways, remember you’re learning each day and tomorrow is another day. We’re only human, and given the age and experience of young entrepreneurs, we tend to make mistakes. Take time to self-reflect, move on and work on a contingency. Hard Work, there is no other alternative. Don’t get let down by a few bad days or weeks. It may take months for some startups to mature. Try researching and understanding the timelines of your category of business. Spend a few hours each week on categorical research and set timelines accordingly. Do the things your way and then do it again, if it didn’t work in a different way. You’re going to get it right.
Most importantly, believe. The day I came up with my idea of a startup, I was called ‘Mad’, and was told that I’d never be able to do it. Today, I have built a sustainable business model, producing 2,500 premium quality footwear each month and have successfully rehabilitated over 200 people in less than 2 years. Be a believer and you will make it to the finish line.
