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5 Key Earnings of Entrepreneurship Life

5 Key Earnings of Entrepreneurship Life
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You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

When you are into a phase where each move and strategies decide your company’s future, it becomes vital to take care of what to learn and what not to. It is very important to know the difference between good and bad. You have to foresee that are bound to come your way. You have to be on your toes, not with probabilities but solutions and answers to the frowns and question marks on faces.

When you own a company, you have to take decisions which might warm up minds and raise the temperatures in the meeting room. Being thee CEO of your business not only brings to you money but also learnings and experiences. Smart is the one who invests money not after resources but his gut feelings for his experiences and learnings. And also, I being one of the CEOs have learnings as my takeaways.

learnings are the best assets and resources to invest into.

1. Employees replicate their founders habits:
So, during the tea-talks employees often discuss about their bosses. What kind of a boss are you? Are you a lazy boss who keeps bossing around your employees and polluting the employee-friendly environment? Or are you the one who takes inclination towards helping your employees for a better efficiency in the work environment and giggles around during tea-talks? This might sound too monotonous, but that’s the reality. Your employees or sub-ordinates always learns from you.

They try to imitate you, because somewhere they are trying to grow and develop and God-knows dreams of owning their company someday. They consider you as a leader and a leader doesn’t create followers, but always gives birth to new leaders.

They’ll try to locate your qualities, will notice your gesture, will take notes of your words, will quote your decisions or motivating speeches. As the saying says so, “You reap, what you sow.” If you’re a lazy boss, don’t expect your employees work hard while you keep seeping coffees in your cubicle. Set an example they can lead to.

 

2. Its not the people but their positions that are valued:

You were born with nothing, but you when you start growing you start creating something. Similarly, when you work in a company, it’s not the personality or your attire that people takes count of, but your values, ethics and perceptions you carry with you. It’s your way of tackling the situations that creates a value. You cannot decide the value of anything, unless you create it.  People follow you, fascinate your persona because your way of perceiving things made it so. You create your identity, you sculpt it with the best of qualities. People designate you with Sir/Ma’am, asks you for a tea or coffee because of that success you carry with you, because they respect your hard work and perseverance.

 

3. When your employees come to you to get things approved, you create culture of non-thinkers:

When you and your HR team spares important time in recruiting someone, someone you have picked on the basis of their calibre and skills, whom your team found the best-fit for a particular job position, why would you need that person come to you for every single thing he creates. In-fact, that is contradicting and questioning your judgement you made while selecting that person for the job.

When a normal task needs your approval, your employee is sure to lose his sight and will shut his own mind. Creativity and innovation will stop knocking your doors. Creating an ever-evolving culture requires you to push your employees to their edges. Best things happen when you are your edges.

 

4. Value is something that you build and customer buy, everything else is waste:
When you sell your product or service to your customers, it’s actually a solution you are trying to sell to your customers. Your customers buy from you, they use it and they evaluate it. The goal of any company is not just to create a product but rather the value.

Say, for example: we never doubt on the products which are manufactured by Nike or Reebok because we are well aware with the quality it serves. Nike is known because of the value it has given to his products, because of the quality, because they have maintained the trust of their customers.

Similarly, whatever you try to sell can be only sold if it has some value. This is the basic rule of marketing. If you just have the idea and even the product but no sales, then there will be a day when your product is going to be doomed. People love good things and as far as you are able to deliver that, you’ll never lose the game.

 

5. Everything is fair in StartUp & love, the key isnever give up”:
It seems cheesy when you read it for the first time. But, this is the reality with which we entrepreneurs live day and night. The journey from being a startup guy till becoming a successful entrepreneur is not easy. There are so many lips waiting to pin-point your mistakes and tantrums that can lead you to take worst decisions.  But, once you are in this game you have to bear the cheaters and also a guy with a sportsman spirit. Not every two businessmen are enemies but neither is the probability that they are friends. Every businessman looks out for the statistics that are churning and hot enough to burn down their competitors.

In the end, what matters is you keep hustling and bustling. You keep winning your customers. You maintain that ethics and moral values of your business and nothing can go wrong. When you are in the game, it’s either win or lose but never about giving up. There is loser in the game not because he gave up, it’s because there could have been something better.

Down the line, there is so much more awaiting your efforts and dedication. You’ll never learn these things unless you yourself go through this journey. These can’t be taught in schools or colleges or in any curriculum. It’s the best and rich source and the only source with the help of which you can push your business in the direction of development and profits. 

Edition: March 2017

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