“All that glitters is not gold.”
The Untold Secrets of Startups Why do you want to go for a startup? Because you saw that your relative has started one and he has got a great clientele in the early years of the business, or because your friend is making huge profits.
A great gymnast will never tell how many times he fell before he made a perfect landing, a great writer will never tell how many pages went into the trash before his first bestseller book was created. Similarly, a great entrepreneur will never tell how many losses he incurred before he made those profits.
People don’t want others to see their struggles. They want to make success their face. That is why you just see the beauty of every field whether it is fashion, sports, or startups. And not the hard work, the sleepless nights, and the hopeless days.
I am going to tell you a few untold secrets about startups, so you know that it is not just a bed of roses.
Ups and Downs: This journey is full of ups and downs. People would rather brag of their ups than accept their downs. Do not be phased by their growth, because you haven’t seen the struggle behind it.
Learning from everyone: People never tell you what inspires them. There are so many times that someone makes a mistake and others learn from it. It is one of the best ways to improve yourself. Ask questions whenever in doubt.
Connections: Networking is the key to success. No one ever tells, how important connections are during the initial stage of business. The more you talk to fellow entrepreneurs, established personalities, and freshers, the more insights you get. When people know you, they talk about you, they refer you to potential clients, leading to more connections.
Coach: You are not a prodigy who knows how to handle finances, make an investment, target customers, and work out the legalities. You need people who are good at things, that you are not, to help you. It is not bad to ask for help. You always need a coach in your life.
Teamwork: Do entrepreneurs ever thank their team enough? Well, everything comes down to the team at some point. You might be a great entrepreneur, but your company is not going to work until your team wants it to. A dedicated and skillful team goes a long way in the success of a business.
Many roles to play: As an entrepreneur, you have so many roles to play. Sometimes a manager, sometimes a salesman, while sometimes a researcher. You have to constantly switch between each or take up more than one role at a time. You can never complain. This is your life now. You chose it. So pull up your socks and get set to keep all your balls in the air.
Funds: You may think that someone started a business because they have enough funds. You may think that they are wealthy enough to bear the losses until the time they start making profits. That is not true. Everyone, no matter how rich, needs to have a proper idea of where their funds are going to come from and how it is to be utilized. Whether you have enough money to keep you going for a year, or not enough to even keep you alive for a week, managing the funds is your priority.
Failures: More often than not, startups fail, within the initial 5 years. This is a harsh truth but needs to be kept in mind. Your strategy should not just be to have a great idea and hard work. But you also need to focus on keeping the business alive. But even if you fail, don’t start blaming yourself. Stop repenting. Stand up again and access your failure. Do better next time.
Being an entrepreneur is a tough job. It is even tougher when you start comparing yourself with others. Do not compare your start with someone’s middle. Everybody has a different graph. Do not blindly follow their moves.
You need to learn from others. That does not mean that you have to follow each piece of advice like a word of the Bible. See, learn, innovate, and grow.
The world of startups is not as glittery as it seems. Take your time researching before you step in. Your time, money, and efforts are important. So do not waste it by just being impressed by the outer beauty of the industry. Look around and make an informed decision.