Business

Six success tips for budding entrepreneurs!

By Shekhar Chandra

Posted on January 20, 2016

Share

Tweet

Share

Share

Email

Comments

StartUp India is the new mantra and Indian youth should embrace it. Starting up with your idea, and eventually building an organization is not an easy task. Road to success is never easy!

In the start it’s exciting but with time it gets tougher so a little perspective at the start can take you places.

Here are the top six that’ll help you to stay on right course and course correct easily.

1) Find a problem to make meaning:

While starting up, look out for “what’s broken?” with a perspective to make meaning for others rather than starting out solely to make money.

As experience says, If you start out with making meaning, you’ll probably make money too but if you solely start out with making money, you wont make meaning and not make money too.

So Think about making meaning by asking these questions:

(a) How can quality of life be enhanced? — what product/ service you can build to enhance the quality of life of people.

(b) Right a wrong! — what product/service is awfully wrong and no one is doing anything about it?

(c) How can you stop the end of something good? — is there something that you and others like but due to lack of something it’s about to end… what can you do to stop it?

2) Pick a hard problem:

Solving harder problems will have lesser competitions and while solving it, you’ll enhance your skills and stretch yourself to build an evolved organization with a champion-mindset.

3) Build solutions that are easy to use.

Your solution has to be differentiable so that people notice it for its meaningful difference. At the same time it has to be Integrable in people’s life so that they can use it to solve their issues while doing their jobs.

4) Be analytical + creative:

Technology is at its best when it’s not seen. Something magical is created and lasts longer when both analytical and creative approaches are applied to solve problems.

Design your solutions as well as the culture of your organizations that takes the power of both sides of brain. Also think about ways in which people will come to know about your solution and access it.

There will be certain touch points and with some creative approach and analytical thinking, you can let people feel delight at the critical touch points.

5) Selling and story-telling:

Strategizing about Selling rather than selling is not the startup game… you should be storytelling and selling the benefits of your solutions rather than giving details about your product/ service. Let people imagine how your solutions helps them get the benefits they wished to have.

6) Have a champion-mindset:

A winner has the skills to win the game, a champion is the one who knows how to pick himself up, train harder and WIN at the next opportunity.

As budding entrepreneur you’ll face many rejections, but how to respond is in your control. Champions, root for their offerings, take any criticism as feedback, seek the value in the feedback and incorporates it in solution and selling.

Startup and RISE!

(Shekhar Chandra is an IIT-Delhi alumnus.He has over a decade of entrepreneurial experience and leadership Excellence. He is also a member of Big Wire editorial team. Reach him at YouLEAD)