Key Lessons for Entrepreneurs

There is one common thing amongst all of us- the sheer determination to succeed. Nothing is going to stop you; No one is going to stop you, no bureaucracy or anything. You will do it at the end of the day. If you have faith in yourself, then you will succeed -Stewart Goldstein

• As an entrepreneur trust your guts, be prepared to make mistakes and don’t be afraid of taking risk
• Have a clear visions of what you want to do and how can you get there
• Don’t think, just because you are an entrepreneur and the founder, you should be the CEO. You may or may not be CEO material.
• Innovation is key, people will get bored of product, update product regularly which will inevitably create opportunities that lead to growth and profitability
• Every business has highs and low so be prepared to deal with them positively and calmly
• A Person cannot have all the expertise, find the right people who would be interested in creating something new
• Believe in your decisions ,be flexible, Stay focused have a clear strategy with a plan B
• To succeed, use your strengths rather than assuming you’re strong in every area
• Hard work, good time management, no procrastination and some luck can help you to achieve success.
• Follow your dreams, be highly motivated, and Work with creative people from all types of industry
• Do not start company just to make money, be passionate about what you do
• Think big and have a vision on long term growth
• Every venture goes through cycles; have patience, courage and self belief
• Do not sell your concept to another person or another firm
• Follow market trends, embrace technology and create something useful
• If you want to grow, stay in the growing market
• Do not lose sight of your targets, Do not dismiss any demographics
• Find where the customers are looking for you, go to them; solve their problem and money will follow you
• To attract the right people, you will need good idea; believe in your idea
• The idea should be practical and implementable, Profitable ideas are often the simplest ones
• Be open minded to change, Changes is constant, Do it yourself to begin with
• Don’t have an ego; listen to others, network with right people. You will need more money, always keep looking for investors
• Invest wisely; anyone who invested in facebook is a billionaire now!
• Stay calm ,remain cool, be willing to experiment, give people what they want
• Soft skills is important ,Negotiate hard on vital deals
• Business is more about execution than strategy
• Have a good funding strategy as it is one of the pillars of the business
• Make sure employees are happy, don’t guess it, but ask them