Entrepreneurship is like a lonely journey with a lot of luggage. You have to manage it all through the different terrains of business. Some people take years to succeed whereas others get instant success. It all depends on how you smartly you take your journey forward.
When I began my entrepreneurial journey with EduGorilla in 2016, I came across several setbacks ranging from hurdles in capital formation to the recruitment process. Hiring has been one of the toughest jobs.7 Key Insights Entrepreneurs can learn from the journey of EduGorilla @Bizztor_IN Click To Tweet
People who possess the talent to propel a startup generally don’t take the risk to be a part of it. So, I had to throw around 5 or sometimes 10 interviews in a day along with the non-stop work schedule.
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We are fortunate to overcome many unexpected hurdles like relocating our office to different places without affecting our work and through smart teamwork. I owe my success to continuous learning. I have gained many experiences and lessons but the few which have been hugely beneficial would be worth mentioning here.
The value of an idea lies in its utility
Every aspiring entrepreneur thinks that he should come up with a big innovative idea to succeed. What I have discovered is that first, you should only go for a simple idea. It should be about a simple product or service that has not been offered in the market in a client-centric way.
You need to fulfill the needs of the clients with an innovative approach. Afterwards, you can use the resources earned to focus on revolutionizing other aspects of your industry by adding new products/services.
Be ready to take the blame in the end
An entrepreneurial life is filled with excitement. You are your own boss and free to make and change rules. However, there is a flip side too. In corporate houses, we can blame our bosses but here you can only blame yourself.
No reason would help you if your market research went wrong, your initial assumptions were erroneous or you failed to hire the right people.
Make effective use of scrum calls
The daily morning or scrum meeting should not just be about helping to set the context for the coming day’s work. It is always about time management and team alignment. Team effort and holding regular meetings to find solutions to every problem are most important principles that our team follows.
Additionally, we never let any smart work by our employees go unrecognized. Recognition makes employees feel valued. It is through consistent reassessment and realignment of team goals that we achieve better results with each passing month.
Stand out in helping customers
In the cut-throat competition prevailing around us, it’s difficult to differentiate and build your own brand. So, you’ve to find ways to help your business stand out from the crowd.
In my case, my company deployed powerful AI (Artificial Intelligence)-driven systems to create an amazingly curated list of about 300,000+ Schools in 12 states &the number is still counting. Apart from having an online presence like other Ed-Tech companies, we started doing a lot of groundwork as well, by personally visiting places to help counsel students of all ages via our expert psychologists.
Recently, we collaborated with a renowned NGO, FUEL to counsel students in various districts of Haryana. Very recently, our work was even appreciated by Prakash Javadkar, Human Resource Development Minister of India.
Never get demotivated
This is an old, yet a power-packed phrase. On every failure of mine, I keep reminding myself that there is no success without failure. If you want to succeed as an entrepreneur, you need to keep in mind that you will perhaps fail many times before tasting the fruits of success.
Also Read: Successful Young Entrepreneurs in India
Celebrate small wins
You need to motivate the employees by celebrating with them over small wins like the creation of a brilliant design, increasein the traffic, achieving a milestone and so on. It boosts your morale and instills energy in the team to keep going.
Honesty must be your best policy
Always be honest about your products and services. If you can’t make the service or a product available by a due date, inform the clients. Have a conversation with your clients and sort out the problem of delay in the best way you can.
It is your own words and clients’ word of mouth that make and destroy your reputation. Businesses that aren’t honest with customers lose their reputation and trust built over time. It attracts a very negative feedback, which might even spread rapidly.