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Startup
Guide
 Have
a big idea? Dreaming of ‘Kab Banega Crore pati’?
Driving down the road…and flash! You hit upon an idea that
could change the world. An idea that will put you into the annals
of history as a pioneer…but how and where do you start? I’ll
help you find out.
Taking
the entrepreneurial plunge
What’s
common in Bill Gates, Sam Walton and Dhirubhai Ambani?
Success
statements they are all right! Their immense drive to excel is
worth a mention. Strategising with the right business acumen and
innovative capabilities make them pioneers in their own right.
As technologies break new ground, entrepreneurial talent is proportionally
on the rise. The Internet revolution has seen more such budding
talent and as the boom continues more join the fray.
If
you are thinking of making strides as an entrepreneur, here’s
what YOU need to do.
Be
what you want to be
You
may be slightly nervous before you take the plunge. Starting an
enterprise is no easy task, especially when you have VCs and investors
to answer to. Before you’ve got the initial investment, rental
space, machines and manpower in place you need to have a dream
and a vision. This will help you hang in there when the going
gets tough.
Charted
course
Have
these things defined clearly- what you want to do, and what is
the course of action you need to take. Have you business goals
in place- the nature of the business, the budget, and where you
see yourself ten years down the road. Plan every step of the way.
It is the most effective way to success. Set your long-term, short-term,
and 5 year plans in place.
Customer
is king
Accidents
can happen, and even the best plans may go ka-put. One thing that
never changes is what your customer needs. Be sensitive and ready
to tailor your product to his needs. Many entrepreneurs have found
success only by being flexible to customer needs.
Think
tank
Even
if a situation seems impossible, the entrepreneur should be able
to spot opportunities. You should be able to guide your team through
the ups and downs. For this you need a dare-it-all attitude, which
allows you to take calculated risks. A proactive approach is thus
characteristic of a successful entrepreneur.
This
is the final exhortation before you to take the plunge. Product
evolution, start-up risks, fund raising, training have all been
discussed in previous. So get those great ideas working and make
your mark in the entrepreneurial world!
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