"Success" - The Members Only Club!
As the door swings behind one realize it's only on "YOU" to "CATAPULT" into the "SUCCESS" or you can just make yourself comfortable in the audience
“You are not allowed inside…” says a stern voice from behind as he hurriedly pulls open the entry door to get inside the elite invite-only club of the city. Now, frozen in his stride he thinks back what made him so sure he can get inside this guarded entrance.
At this moment the rough journey and the factors along that flashes in front of his eyes that got him standing here...
Risk- It is important to go ahead and do the unusual or just settle and be ordinary. You need to exit your comfort zone, be uncomfortable for a while. But once you have reached stability, there is no point being carried away and it may prove prudent to be cautious and safe to sustain yourself to the level you have achieved.
Grit- Building from scratch is inspirational; scratching till you don’t get there is true grit. Because true grit is rewriting your story when you are being written off and then your comeback will be more impactful than your launch. You have to sometimes take the plunge before you even start walking. Battles are not won alone, but they don’t end till the last one is fighting, hence never shy away from putting your best punch forward. In the end when it's over and you look into the mirror smiling it won't reflect your grit, but your result.
Noise- With so much happening around it works to cut yourself from the distraction and focus on yourself and the task ahead. Be silent unless you don't have anything big to say. Being off the radar works, ignoring the unwanted noise around you can become the key to your success.
Persistence- Persistence is the fuel that can drive you. Passion is overrated and Persistence is a bigger requirement than Passion in building a successful startup. But just because passion sounds sexier than persistence we give it more importance. In the end, Passion can definitely help you jump into your startup but Persistence is needed to run it. Because building your own business takes a lot out of you. Passion wears off & what is required underneath is perseverance to achieve. Don’t just love what you are doing but make sure you don’t give up till it is done.
Lean- Be microscopic in approach: Try to prove your business model first; e.g., target your locality before you move on to the city than larger geography. Make money: You know what is cooler than 10,000 free users? 100 paying customers! There is nothing sweeter than making profits before you expand. Mastering the mundane things helps in getting in the rhythm. Raising money isn't the benchmark, building a business is.
Frugality- Getting funding isn’t equal to winning a lottery ticket. The more frugal you are with your investor’s money the more confidence you will gain from the community. Frugality is an important ingredient in the recipe of success: This stands true even when you make it big with your business or when your business is bootstrapped. The more frugal you are with your investor’s money, the more confidence you will gain from the community. It is good to be understaffed & hire people who are happy to go beyond their defined profile to learn. A secret sauce for a startup is finding the need gap & filling it with profitability.
The brief moment concludes as he reflects on these factors that got him here and he looks back with a smile to the stern-voiced manager of the club who is stopping him to get inside. But now, the manager is taken aback to see the person who is smilingly staring back holding the door to enter inside the auditorium is the same guest speaker on the huge cutout for whom the elite members of the club are waiting to hear patiently on the topic displayed in big text that reads “How to enter into the Successful Members Club".
Deep Malhotra is the Co-Founder of BECK Technology Ventures Pvt. Ltd. and Gemini Group. Deep has over 13 years of entrepreneurial and startup experience in working & building companies like Google, MySpace.com & rediff.com.