How These #18 Entrepreneurs are Bending the Rules in 2018
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
By definition, “an Entrepreneur is a person who is willing to take the risk for his venture to earn money.” However, it doesn’t end there! For handling risk, one needs to be prompt to create, break and re-mould RULES! RULES that makes and breaks an ENTREPRENEUR! With the dawn of 2018, entrepreneurs across India intend to change the ecosystem with their path bending RULES! Let’s check out who is bending what.
#1. Fix No Professional Boundary
“As entrepreneurs, we cannot fix our professional territories. I plan to be more accommodative and acceptable, juggle and fit into each other’s professional responsibility. We do have our set of works that we excel in but are aware of other’s too,” states Shah Miftaur Rehman, Cofounder and CFOO, Wow Momo.
#2. Say Yes To a ‘NO’
“In 2018, we would say ‘NO’ to the possible opportunities of generating money which could be lucrative but deteriorates the quality of work. As a start-up, we tend to say YES to every opportunity, eventually losing focus,” states Ishdeep Sawhney, Founder, Banihal.
#3. Slow and Steady Wins the Race
“With limited resources, it is important for all start-ups to scale gradually. I would focus more on revenue rather profitability in 2018. Profitability should be there as you scale, not before,” states Malika Sadani, Founder and CEO, The Moms Co.
#4. Formal Communication - What’s That?
“In the corporate world of formal communication with the clients, ‘Wobotians’ plan to create semi-formal as well as a continuous communication channel with the clients. WhatsApp groups between our support team and client team helps build a smooth communication,” quips Adit Chhabra, Founder, Wobot Labs.
#5. Fitness First, Procrastination Later
“Fitness is every New Year’s resolution, but never kept. Now with another year ahead, I plan to shed off procrastination and work on my fitness and incorporate the same in each employee’s schedule! I will set mental health targets for myself as well as for my team. If you aren’t mentally fit, you aren’t working,” states Aarti Pandey, Co-founder, Folk Fitness.
#6. Hello Passion!
“Maintaining the right manpower is tough. Therefore, I plan to hire more people who are passionate towards entrepreneurship and work independently in our organization. When passion meets profession, you become more responsible,” states Dr. Ankur Hastir, Founder, Gym 99.
#7. Pen Your Thoughts Down
“Spend the first five minutes of the day penning down your thoughts for the day; revisit them before calling it a day. No matter how modern we have become with several reminder apps, I would prefer doing it the traditional way with my pen and diary,” states Ketan Kapoor, Co-founder and CEO, Mettl
#8. Family On the Top!
“I prefer spending time with my daughter Ayesha, switching off my phone. I advice all my colleagues to go out on a vacation with their family. Prioritize your quality time with family rather than having post work engagements with your colleagues,” states Jacqueline Kapoor, Founder and President, Ayesha Accessories.
#9. Plan the Big Picture
“Make each second count responsibly outside the lines of business. As a leader, I need to channelize myself well in order to make my team productive. While people do not give enough time to plan their goals, I would give two hours each day to plan goals before executing them. So, for me planning is the main steering wheel for 2018,” expresses Priyanka Modi, Creative Head, AMPM.
#10. Progress Over Perfection
“It is good to be perfect, but being a start-up you need to break the rule of perfection over progress. Be progressive and obsessive to your own mistakes and learning from them are sole reasons to grow,” states Akshay Verma, Founder, Fitpass.
#11. Keep Your Feet Dynamic
“The first rule is not having any business rule especially when the economy is going through a transition. Be ready to change your business model anytime,” states Puneet Chawla, Founder, Jaypore.
#12. Merit Over Preference
“I choose my teammates on the basis of their merit and not on the basis of any personal or professional relationship. Qualities build us and not the interpersonal relation. Diluting the qualities to fit in a family member inside your organization is disastrous,” says Kapil Mahtani, Director, Tresmode.
#13. Time has Time!
“Team interaction is a mandate, but you should know when to channelize what conversation. I am constantly being pulled into conversations by the team throughout the day. With 2018, I would fi x a timeline for team discussion unless the urgency level is nine or ten,” states Sukhmani Bedi, Co-founder Betterbutter.
#14. Under Promise to Over Deliver
“We believe in under promise and over deliver which has been a hit and we would keep it as one of our secret to success. You could say that as a precaution against failure because there should be one master principle that remains the backbone for all organization,” states Khalid Wani, India Director, Western Digital Corporation.
#15. Authoritative? Naah; Freedom? Yeah!
“It is important for us to be free than authoritative. Let everyone loose and let people take charge of their responsibility. Hand holding your employees when needed is good but authoritative makes them slave. I would segregate whom to hand hold and whom to set free on the basis of their experience,” states Vishwas Shringi, Founder and CEO, Voylla Fashion.
#16. A Happy ‘Morning’ Maketh a Professional Day
“You cannot give your first two hours of the day to emails and calls. I ask my team to concentrate more on their responsibility because if the day is set your schedule is set,” states Karan Tanna, Founder and CEO, Yellow Tie Hospitality
#17. Accepting Failures!
“The cost of innovation is developing an organizational ability to face failure. I would embrace more failed ideas and ideate on them more in 2018. I would give extra care as to why the idea fell short and what can possibly improve them,” states Samir Kapoor, Co founder and CEO, Multifit.
#18.Loyalty on Top!
“I would plan to harness loyalty, not hierarchy. Hierarchy bends and dents the company chain making work an obligation. Whereas loyalty contributes to long-term company success and increased productivity. In 2018, I would invest in building the human factor of my company eventually building my team the brand ambassador,” concludes Prateek Srivastava, Founder, Stern Advisory India.
(This article was first published in the December issue of Entrepreneur Magazine. To subscribe, click here)