5 things i wish i knew before starting up

LESSONS FROM AN AWARD WINNING SOCIAL ENTERPRISE

5 THINGS I

WISH I KNEW

BEFORE

STARTING UP

One of the oft heard phrases in the world of entrepreneurs is,

I WISH I HAD KNOWN THIS SOME TIME AGO

Compiled next are five main

lessons relevant to issues common across the industries.

LESSON # 1

During the starting phase there are a lot of

ideas going back and forth

Don’t try to implement all the ideas in one go. It’ll hamper your focus.

Instead nail down one idea. Something which packs the maximum

punch.

Then focus exclusively on this and execute it.

LESSON # 2

Raising capital is always a challenging process.

It’s marked with uncertainty and risk.

The fundraising process takes time. It can involve several rounds taking up to a

year at times.

Anticipate and keep this in mind.

It can have a huge impact on finances.

LESSON # 3

Do a reality check. The rosy picture your plan paints and actual

reality are mostly different.

Trench is as much a part of growth. Hitting the bottom before you succeed is

almost a rite of passage.

Remain focussed on the purpose. Strengthen the belief system that binds you

together as a team.

At times it’s sheer luck at play. Hold your breath, wait out the dip and

remember that it is darkest just before dawn

LESSON # 4

Recruit people who can get things done.

However also take care of the cultural fit.

Spend time & resources on hiring the right candidates.

They are the people who will transform your ideas into reality.

LESSON # 5

Rites, rituals and recognition go a long way.

It establishes team unity, increasing levels of employee morale and motivation.

Apart from building culture they are also a platform to share updates.

So keep these five points in mind, put on your entrepreneurial shoes and you are ready to race and compete with the best.

This presentation is based on a talk by Dr. Ashwin Naik,

Founder/CEO of Vaatsalya Healthcare.

Visit Entrepreneur Academy for more useful resources for

start-ups

THANK YOU

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