15 Tips to Run your Startup successfully

Major Learning from our first venture as 1st generation Serial Entrepreneur being First Time Right

  1. If you are a bird, fly – If you are a fish swim, do not try to swap. Be aware of your strengths and capabilities and explore around that.
  2. Timing of your idea and Right Team are most important and critical for success of any venture
  3. Choose your Partners wisely. Have partners who compliment your skills! For e.g. Having 4 partners and all “techies” may not be of much help rather having someone good in operations, someone good in Managing Finances, someone in Marketing, Business Development and client relationships, someone in Strategy and People management will be of great help
  4. You need to be different in your offering if you need to survive in the market
  5. Be open to change based on circumstances
  6. Do not compromise on your ethics for the sake of business
  7. You have to play multiple roles; do not define your scope of work or put limitations and boundaries to your role. It’s “Your work” or “His/her work,” “Not my work,” “I am only doing everything” are things of past and vague.
  8. As an Entrepreneur, you require to play extended roles and become “jack of all and Master of some”
  9. Always move around with an “L” board on yourself. Stay away from “I know” attitude
  10. Be ready to give up corporate perks
  11. Do not nurse ego if you are treated as a “vendor” in client meetings. Focus on what you came for!
  12. It requires lot of courage to convey your idea without the fear of being wrong and a never “let go” or “Never Never Never Give Up” attitude!
  13. Low operational costs should always be kept in mind
  14. Perseverance, Patience, Resourcefulness and Resilience are key skills required
  15. Believe in your idea even if other’s don’t believe in your ideas

Motivational book on Entrepreneurship – “You Can Do It!”

Leave a Reply

Your email address will not be published. Required fields are marked *