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... (More)