Cricket & Entrepreneurship

If you are a cricket fan, you would have watched the T20 International final of India vs Australia, and would have enjoyed every moment of it. I mean, what a match it was! Captivating and thrilling till the last ball! And once India won the match, and also the series, the media exploded with all kinds of praises for the Indian cricket team.

Yes, the boys played well. But aren’t they the same boys who were at the receiving end of criticism since they lost abominably in the World Cup 2015. Just goes to show, how fickle is media and the fans. One moment they will make you Gods, and the next treat you as dirt.

Somehow, I can draw a parallel between cricket and entrepreneurship. Entrepreneurs work - hard and are true to their passion of building a unique or useful product for the society. Customers, if they like the product or services, are all praises, and the moment they are unhappy about the company or the product, they start criticizing it, without once taking into account the previous impeccable record. But, the flipflop attitude of customers shouldn’t affect a true entrepreneur. They should stay true to their passion and make efforts to improve their offerings to make their customers happy. The brickbats and accolades are all part of the game, so better to take them in their stride!

(taken from eazyhire.in)

Infographic on 'How to Start a Startup'

An interesting infographic by Funders & Founders on Paul Graham's essay 'How to start a startup'. It takes you through the journey from when you have an idea to when you take your company to an IPO.

The Right Time is NOW

In life, one of the most common phrases we use to avoid certain things is "It's not the right time". The same applies to someone looking to start up.

As humans, we try to find reasons to justify our statement. Some include
- an advice from an astrologer about now not being a 'good time'
- not having enough money
- not feeling equipped enough
- the market may not be right at this time etc. etc.

Though some of these reasons may have a certain logic to them, it should not refrain a good idea from blossoming. Most of these things can be worked out and if you feel that something needs to be done, don't make excuses and delay it. Just do it now!

The Intangible Benefits of Entrepreneurship

There are many reasons to be an entrepreneur. Owning a business can be joyful or a pain in the you-know-what. Chances are you’ll experience both ends of the spectrum at times. It’s not easy to grow a business, and in frustration, entrepreneurs decide to quit.

Freedom

Freedom is the one thing each of us wants and needs. Freedom comes in many forms and can be the difference between truly living life or simply existing. Entrepreneurship provides many ways to be free. You get to set your schedule and spend your time each day on the things that are important to you.

Impact

You started a business to make a living, but what you do in that business helps people and changes their lives. The impact of a business lives beyond the entrepreneur who started the business. Look at a company like Apple and it’s founder, Steve Jobs, as an example.

Take some time to enjoy the freedom you have and the impact you’re making in people’s lives. Enjoy the little moments in the journey to build your business and live each day fully present. You’re creating a legacy that will extend beyond your lifetime. That should make you smile.

(taken from http://www.entrepreneur.com/article/249852)

How to be an Entrepreneur???

I cam across these lines in www.entrepreneur.com which fascinated me and made me realise that this is all it entails.

"If you want to be a successful entrepreneur, don’t start out wanting to be one. Start out with a customer problem and a product that solves it. Get capital. Make the product, market it, win customers. Someday you’ll wake up and realize what you’ve become: a guy who took a risk, started a business, and made money. An entrepreneur."

What's your skill set?

Idea generation is the point where a future startup's success chances are determined to a big extent. Ideas and opportunities can be found everywhere, especially in a fast growing and huge country like India. I tend to see and identify atleast 2-3 business ideas a day, and some of them do seem very very exciting. However, I've realised that going after any idea is not the best way to startup.

I've learnt the hard way that all entrepreneurs cannot execute all businesses. Some will be better in some businesses than others. It hence becomes extremely crucial for any budding entrepreneur to analyse his/her skill sets and formulate/identify an idea around that. I am not saying that one should be very rigid in this. However, the closer the match between the idea and the skill set of the founding team, the better the execution of the idea will be.

Inspiring Entrepreneurship Story - Elevate!

"In 1998 I was a copywriter/account manager at a small ad agency in NYC. I liked what I did, but working in jammed quarters with ten people (and one stinky bathroom) and being told when to show up and when I could go home was getting old.

I was just twenty-seven but knew I was doing good work for our clients and that I had some talent. Then I noticed a freelancer coming in and out of the office on his own schedule yet doing pretty much the same work as me. He'd come back all tanned from the Hamptons and would do his work while he was there.

I was so envious. And then I found out he was making way more money than me.

But then I realized my envy simply meant I wanted more freedom for myself. So I didn't get mad... I got smart. I took him to lunch, asked how he got started, and once I kind of understood the first few steps I quit my job.

I didn't have any clients, I had never taken a business course, I was cash-poor and in over $15,000 of credit card debt. But I somehow knew I could hustle. And it was just more painful for me if I had stayed at that job and never known what would have happened if I didn't try.

I stopped at Staples on the way home and put a new printer-fax machine on the last bit of room I had on a credit card. I printed business cards that said I had offered marketing communications services. I attended any networking meeting I could find. I asked for referrals. I met a lot of people but nothing was happening. And I was getting tired of ramen noodles.

When I didn't have the money for my next rent payment on my tiny apartment, I was getting nervous all this wouldn't work. But one day, after praying for guidance, the phone rang. One of the agency's clients had looked up my number. They said they had no reason to stay with the agency if I was gone. They became my first real client--one that at least paid for my rent, groceries, and Metro card.

And from there, you couldn't stop me." -- Ali Brown, founder & CEO, Elevate.

Moral: Believe in yourself!

'Passion - the Genesis of Genius'

I want to top the Maths exam, it's my favourite subject!
I want to make my girl friend feel really special this Valentines!
I want to make my mother proud!
I want to be the best husband and an amazing father!
I want to create the next Facebook!

The common ingredient is all of these is PASSION. If I 'want' something, then I have to be passionate about it. The same argument goes for your startup as well. If you really want to create a sustainable business, you have to be passionate about it and it is this passion you have which will ensure that you keep persevering.

The Birth of an Idea!

The common way an idea is born through an experience. A bad experience, a gap in some particular service, an unmet need, all of these lead to the birth of an idea in most cases.

However, entrepreneurs, being the versatile lot they are, need not limit themselves to their experience. Some identify opportunities in any Field/Industry. As is said in the quote above, "Opportunity will necessarily not knock on your door. If it doesn't, build a door!"

Patience - a Very Crucial Quality for an Entrepreneur.

A very typical situation: a good idea -- a good team -- a good start -- failed startup.

What was missing in such cases? A lot of the times we see it is patience. Entrepreneurs need to maintain the momentum especially during the low phases.

What failure teaches you...

I've failed in my startup ventures till date.. I've tried more than a couple of times and have had to close down the ventures within 1-3 years from inception. I've lost money, confidence and respect towards me from my friends & family. I stand here today reflecting on what I've done. All looked bleak initially. But then, on analyzing further, I feel now that I have taken a lot from each of my ventures (which I will individually detail in other posts).

Failure has taught me things right from the importance of a business plan, team building, building a robust business model, having concrete estimates and expectations, having good mentors & advisers in your journey and so on. Probably, if I had to succeed in my first venture, a lot of this learning would not have come to me in as detail as it has.

So, failure is not bad at all. It's important to try and if you fail, just make sure you take back as much learning as possible. Repeating a mistake and failing a second time because of it is stupidity and a complete waste of time.

Why the name etrlearning???

A chartered accountant has a CA prefixed to his/her name.
A doctor has Dr. prefixed.

Why should an entrepreneur not have "Etr"???

What say guys........