Things about Entrepreneurship Basics that No School Teaches You
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Bill Gates, Jeff Besos, JRD Tata, Dhirubhai Ambani are some of the most prolific entrepreneurs that the world has seen. Each of them built a company that has impacted generations. Growing up, I heard their stories and I was inspired to be an entrepreneur. Often when we hear stories, we hear about the successes, but the failures, the difficult decisions, and the sacrifices are ignored. It is the tough choices that were made that make success possible. As an entrepreneur, I have thoroughly enjoyed my journey but there are a few lessons that I’ve learnt along the way that I would like to share with those embarking on this tumultuous but exciting journey.
If you are not passionate about what you do, you can’t be an entrepreneur. The first rule of entrepreneurship is to love what you do because while building it up you will be working long hours, you will be making sacrifices and that is only possible if you love what you do. Passion makes the difference between the ordinary and the extraordinary. Burning the midnight oil fuels you rather than exhausting you.
Risk Taking Ability
To be an entrepreneur you have to have a risk appetite. Taking risks, extending your ability a little bit more is crucial to success. You have to have the ability to go down an unknown path, not always sticking to what you know. Entrepreneurship is the journey of someone who has an idea of doing something just a little differently and risk is built into that road. You don’t always know if your venture is going to succeed and it is not like a professional setup where a fixed income is guaranteed at the end of every month.
Michael Jordan, the renowned basketball player sums up the entrepreneurial spirit wonderfully when he says, “I’ve failed over and over and over again in my life and that is why I succeed.” Taking hurdles, failures, and roadblocks in your stride and the ability to face them is crucial to long term success of your endeavor. If things don’t your way, which invariably they won’t an entrepreneur is able to take that in his stride. They convert failures into lessons for the future, while we often hear that, entrepreneurs embody that spirit day in and day out.
Being a leader is not only about leading but also about listening and inspiring those that work for you to believe in you. A true leader enables their people to grow and flourish, they empower those that work with them and bring out the best in each of their team members. An effective leader leads by example, ensuring that policies apply equally to everyone including himself/ herself.
Any company will go only as far as the vision of the leader. It is important that you have a vision that is expandable and knows no limits. A vision should also be specific because you can’t be everything, you need to pick one thing to excel at it and then expand.
Dream big but dream forever. Your dreams, your ambition define how far you will go. In order to be an entrepreneur, your dreams should reflect the expanse and the dynamism that is innate in a successful organization.
These are just a few of the tips that have helped me grow, helped me on the path to achieving my dream. The path hasn’t been easy, it hasn’t always worked out my way but that has only fuelled my desire to achieve. The thought that I leave you with is – at the end of the day no matter what you do, do it with heart, do it with courage and it will always be worth it.