A lot of us often wonder why some entrepreneurs succeed and others don’t. A lot of entrepreneurs have ideas with similar market size and sometimes an equally talented core team and yet things don’t go well for all.
With the exception of few entrepreneurs who get funding a bit too easily and seem premature successful, most of the entrepreneurs have to carry these four ingredients for success: Say no to excuses: Most of us are not able to achieve our full potential because we have a bag full of excuses. Excuses only multiply with time. And the more you entertain the excuses, the more you delay the work and the less likely you are to achieve your goals. So take a strong determination that no matter what, you will say “No” to excuses. Strong inner voice than outer voices: A successful entrepreneur has a very strong inner voice.
The naysayers will keep saying no, but his inner voice will keep him determined to follow the path. An entrepreneurial life is full of obstacles, full of people who are standing beside you to tell you why and how you will fail. If you don’t have an inner voice, you will never succeed. Written plans: Do you know why a lot of mentors ask you to paste your Business Model Canvas in your office? It is not just there to give your team some clarity on what the focus is, but rather to give you a reminder of what you should be doing. If you are not familiar with BMC, at least get a written plan of action pasted at your startup office (or your home).
A clear plan will remind you of clear action and motivate you to take steps towards it. Failure is a checkpoint and not a roadblock: Moving from one failure to another is the jist of a startup story. Failures are inevitable. The idea that we think should work, can end up failing or producing short results. Sometimes the market may change more dynamically than we expect. So remember that failure is a checkpoint and not a roadblock.
For any queries, feel free to write to me on Rajeev@TBSPlanet.com
Rajeev Tamhankar
Twitter @rajeevtamhankar
The writer is IIT-R Alumnus, Entrepreneur of The Year’17 (Print Business) and the Founder of TBSPlanet Comics