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Asked a question 3 years ago

What’s One Thing Most Entrepreneurs Should be Doing, but Aren’t?

Where am I?

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A short guide to strategy for successful entrepreneurs.

Most start-ups are founded by first generation entrepreneurs. Even if they do come from a “business family", the family business experience does not prepare them enough for the dynamics of today's business world. Most of them are intelligent and highly capable people for sure, but unfortunately they are in a game where they're clueless about the rules of the game! 

Let me try and give you an analogy about starting your new company. Imagine this. The new entrepreneur knows his destination (business goal, success, revenues, market share, etc). 

But unfortunately, he is in a completely new country, without any map (or google maps), there are no sign boards, no public transport systems, where the people do not speak any language that he is familiar with; the people are quite suspicious of visitors and probably not very friendly. The place is even more confusing bcoz the weather is totally unpredictable, there are many days at a stretch that you don't get to see the sun or moon to be able to figure out directions.

The new entrepreneur is fully loaded with optimism, knows how to ride his vehicle (his business, new idea or technology) very well, usually better than anyone else, and is well aware that he will be rewarded handsomely when he reaches his designation. Now, can you imagine how ill-equipped the entrepreneur is, when it comes to reaching his destination? He goes around with a lot of enthusiasm in this new place, which is changing almost every single day. After a few days or few months, he is gettin a little weary, unsure and is worried whether the fuel (finances) will last till he reaches the final destination. Slowly, he starts coming across other visitors, who are also searching the same destination. Some of them have been searching for much longer than he has been. As time goes by, he is now more doubtful whether all the stories he read in the newspaper and internet and saw on TV about people who reached the final destination is true. Some entrepreneurs feel they've gotten a lucky break  when they find someone (investors) who is ready to give him money for fuel. Unfortunately, in most cases, these investors start telling the entrepreneur what changes he should do to his vehicle to reach the destination.... for most of them have not reached the destination themselves.

If only the entrepreneur is willing to take the guidance of an experienced mentor, high chances that he will be able to navigate his way to his desired destination! What prevents such intelligent individuals from not following this simple idea: their ego.

If you find value in my thoughts, and believe that I can add value to your learning journey, feel free to connect with me on LinkedIn (profile ID is giniyan).

All the best!