A child can go through more emotional mood behavior changes in sudden bursts. You as a parent need to take care of those and balance the mood and imbibe right principles and value in a child.
Same holds true for a startup. Multiple dynamics in short span of time. You are the parent and you are supposed to not back out of the child as it is your baby. Whatsoever outcome, be with the baby for at least 1 year, preferably 3 years and nourish it with right team, right product, right service, right values and then if it still survives, the baby is now feeding you rather then you feeding the baby.
Unlike human where we need to nurture a kid for over 16-20 years, here you are nurturing a startup for 3yrs with focused attention and you will see it support you for rest of your life if you keep nurturing the venture.
Sometimes Investors seek Business Plan and approve investments too only to find in a couple of months, things going haywire.
A retrospection begins and there is a need for a change. There is a need for a super executor who has proven marketing experience along with strong delivery skills to successfully execute the vision / mission for minimum 1 year with no defined plan but focus on goals and targets set. once the venture moves in right path, again re-plan and things will be in much better shape then the original plan submitted to investor.
Bottom Line : No plan really works unless the execution team not in place.
Many a time in lure to make quick money or to make side income or to help family revenue grow, an individual gets lured by marketing leads to all sort of schemes. Each scheme may have its own advantages or could be scam too. Very important to be focused, committed and goal centric to only one or max two scheme if they compliment each other. Have patience and build network and don’t jump from one project to other assuming the previous would fail and didn’t look too attractive hence jump to next venture.
Same holds true to an entrepreneur or investor who need to stay focused and work towards growing a couple of ventures annually and have clear phase out planned only after 3 years of execution.
Life is a process and you are the system. Your system needs love, care, affection, intimacy, food, shelter for sustenance and you may have n number of sub processes in your life which you need to execute as part of your duty.
What you wish beyond your life as contribution to your family and society?
You would like to save money for your family? Will it suffice for next generation and beyond that? The answer could get fuzzy.. but if you think of a need and build a product or a service and create a running business, that would be the greatest contribution to your family and if you are able to also initiate a social endeavor, it would contribute a bit to society.
Bottom Line : Beyond Life it is Death and Beyond Death could be Salvation or Re-Birth and what remains between Life and Death is your processes and system. Make your system think and build good products, services and utilities for people and only happiness will be the outcome of that journey where your contribution would be valued by your near and dear ones.
I hope you are fine
I believe you are fine
Life is not about hoping but believing that everything will go well as it is planned already by unknown.
An entrepreneur should always believe on the project that it will work and it will surely will.
The Bridge is straight but obstacles exists. The initial investments is over and you are just 25% in between on the bridge. The way ahead you can see the light but you are lost as you are alone and you need to remove obstacles on own. You shriek and shout loudly “Help! How I wish I could have some people around me”. Soon you collect people who are moving on their way crossing the bridge, So it is important to identify people with common belief, common goal and common desire to travel together on the path and you will find bridge not too difficult to cross and you will emerge victorious in your venture
An entrepreneur’s dilemma in thinking should I take a loan (debt) or should I let go equity to an investor.
Let me explain through a road side noodle shop entrepreneur.
2 years back the boy was hungry; didn’t have food nor shelter; an orphan. In a south-east Asian country struggling. An angel came in and gave a US$250 fund and a handcart with necessary accessories. The boy questioned what if police raids me? The angel smiled and said ‘I am the police and just want you to grow. The boy curiously asked what is the total funding incurred by the police. Pat came the reply “US$1000. The 250 is for you to take groceries for next 4 days. Am also provisioning gas for you”. The boy began providing noodles to late BPO office staff. Every day would make around US$500 and Police wanted US$100 as his fee per day for his small help. After 2 months the boy counted his outflow and found he is giving 100x30x2=6000 US dollars. He got shocked. A whisper heard up in air ‘dear boy-he was your angel. he set your business at 25% equity. You never realized then as you were in need”
the boy said ‘how I get rid of my angel’
he questioned the police ‘please tell me one time fee and I will not pay you ever US$100 per day.
He said it is simple “Pay the taxes which works out 15% approx. to the government and apart from that pay me off US$12000 a one time fee. I am out of your life”.
The boy thought in his mind “Should I take a loan and pay him off or should I save and pay him off”.
He did a quick calculation US$500×30. His total revenue was US$15000 per month. He publicized himself in nearby area and put a poster ‘IMITATE ME- COST ONLY US$12000 for using my brand”. To his surprise he found 2-3 takers, he got US$36000 cumulative from 3 for setting up the brand in 3 locations of city. He didn’t know he is franchising.
He gave US$18000 to the police. The police got shocked and surprised and smiled. He questioned “Why you became so generous?”
The boy said “In future I will give US$6000 for each reference you provide for setting franchisee.
The police said “Sure. and in some other city, I will again distribute this 6000 to 5 different needy folks to be entrepreneurs”
Boy said “You will create competitor for me?”
The police said “No. Relax and stop worrying. We both are growing” and both ended up smiling.