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Tips for entrepreneurs who want to be more than just a businessman

In a competitive world, the life of an entrepreneur is not that easy the way it looks. Believe it or not, building your own empire from scratch takes every bit of your heart, soul, blood, and sweat.

According to me, taking a risk can turn around the desk, when there is a passion in both heart and mind, you eventually find a way to follow your instincts and turn it into reality. After completing my MBA from IMT, I began my career as a banker and worked at Citibank and Kotak Mahindra. With no entrepreneurial background, I quit the banking field and decided

to take the risk as my conscience urged me to take baby steps towards my dream of being an entrepreneur. Till now the decision motivated me every day to achieve the goals.

Starting a business is one thing but taking it to bigger heights is what matters. For entrepreneurs, the word ‘growth’ signifies many forms. It can be either revenue growth or business expansion, increase in employee workforce or earning new clients. Thus, ‘Growth’ as a whole is very challenging and succeeding in all forms is what a real entrepreneur should aim at. I have always believed that one should follow its instinct, by doing so you will be better equipped to face hurdles of the entrepreneurial journey.

I have been in the industry for more than a decade now, and since the time I have incorporated a few steps which are being reflected in where I am today. You must be wondering how did it all happen and what approach one should practice in any business?

I believe, five key elements are crucial for any entrepreneur to start his/her journey. Any business whether small or big has to be adored as a kid and you should nurture them with all the good qualities so it can outshine others in the industry. For me, Passion, Perseverance, Resilience, Proactiveness, and Right attitude are the main characteristics which make you an entrepreneur and support you in attaining success.

People before Profit

Richard Branson has said, “Clients do not come first, employees come first. If you take care of your employees, they will take care of your clients”.

Being the head of an organisation, I always admire the aforementioned thought and believe that employees are the key to the success of any organisation or a start-up. In any business, employees are the most vital asset and they act as your brand ambassador in the real world. I firmly believe that it’s my duty as well as responsibility to provide a positive corporate environment where employees are motivated and inspired every day. We should be appreciative of the efforts put in by our employees and encourage them to learn new skills and gain the tools needed for continual improvement, that’s how a company touches the success ladder. Grooming employees for advancement are ideal ways to prepare for the future, factors like appreciating workers, motivating them, having an open dialogue are some valuable tool that benefits the employee and employer too.

Long term profitability vs. short term gains

To stay strong and survive in the business, both profitability and growth are equally important. Both aspects go hand-in-hand when it comes to taste business success. Small wins give you the strength and confidence to achieve bigger ones.

However, we should be mindful of short-term gains, because few people tend to lose track and satisfy their inner self. Short-term profit might look attractive, but the long-term goal is what builds a brand. My advice for budding entrepreneurs is, always try to scale up the business rather than worrying about profit when it is started. 

The lesson till now I have learned is that if an entrepreneur fails to invest in the future just for a short-term profit is unlikely to have a sustainable business. 

Long Pain taking process over shortcuts

There are no shortcuts in any business. Hard work and patience makes you every day strong and gives an inner strength to fight the ordeals which come in the way and come out of it stronger. In every business, ups and downs are part of life but that doesn’t mean we restrict ourselves from taking the risk. If we look around, we will find there are too many small-scale industries that never became large companies, because entrepreneurs tasted early profits and stopped taking risks at some point of time.

Whether it’s planning for the year or planning for the next five years, it’s important to have a roadmap to understand where you are going and how you will get there.

At last my message to the budding entrepreneur is that It’s easy to follow other’s footprints, but taking steps which become footprints for others to follow is indeed great. You can achieve this when you become an admiration for others and people admire you. And you can be an admiration only by following your inner soul, doing what you want, the way you want and when you want.

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Disclaimer

Views expressed above are the author’s own.



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