Published on May 18th, 2011 | by drkkr0
10 Pointers on Entrepreneurship
Entrepreneurship has always had a mystical edge to it: Brave people sallying forth riding out to surmount giant obstacles .
After experimenting it for the past few years, while I have not lost that element of romance. I have a new appreciate for the realities of the game, the careful and inspired preparation and ground work that is needed. To put it other way, I am still captivated by the dive, but now I have knowledge and an appreciation of the springboard.
I have been experimenting entrepreneurship for a while, after being a successful intrepreneur, my team decided to venture into entrepreneurship and some of the ventures have taken off well, some of them are struggling, some of them yet to see the light. In the process I have been mentoring and consulting certain business ideas and also have been speaking at various forums on entrepreneurship. Very recently I attended a course of LBS and NEN to learn from Prof John Mullins on Entrepreneurship.
I bet you the moment you are an entrepreneur your mind starts exhilarating. It is one of the most challenging yet rewarding experience any one can go through. If you want to be an entrepreneur one needs to move out of the comfort zone. All business schools, entrepreneurship conclaves speak about successful entrepreneurs like Narayana Murty to Richard Branson.
Entrepreneurship on paper or while you teach or discuss seems to be inspiring but in reality most of the entrepreneurs fail. I guess that exactly makes entrepreneurship a rare breed. Opportunities today are massive, look at the work NEN is doing in campus.They are giving opportunity to kids who are keen to plunge into entrepreneurship and they are also building world class entrepreneurship educators and mentors. I thought I will blog based on my knowledge and experience 10 Pointers every entrepreneur should focus on. If your sails are set right, the winds nor the storm cant shake you whatever there might.
1. Have an idea about what you want to do and how you want to go about. Never underestimate an idea! A small idea can be the spark to a massive business.
2.Give yourself a chance because you would never know what you could achieve and succeed unless you take the chance.
3.Research is required to assess the condition. Observing and reassuring help in improving processes and there by improving efficiency.
4.Be persevering and be patient.
5.Have a business plan as you will need to understand your bottom lines to be successful.
6.Speed is the essence of most business today. Always be one step ahead of your competition.
7.Create a team that is willing to test effectively. Great team can push you far. Founder chemistry is important. Find Good people… Realize Employees are the Business.
8.Invest in talent, intellectual Capital and Physical infrastructure.
9. Cash flow is underestimated by lot of Entrepreneurs.
10.Build Trust. Don’t ever stop learning. The day you stop your organization dies.
An entrepreneurial journey is not an easy one.There will be lot of ups and downs and you should be willing to weather the storm and go forward at all times. Tough times never last but tough people do. If Entrepreneurs have clarity on the 10 pointers I have shared then entrepreneurship is the way forward.
Have fun – it’s your company any way.