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5 things I wish I knew before starting up

This presentation will help you to avoid some common mistakes while starting up.

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5 things I wish I knew before starting up

  2. One of the oft heard phrases in the world of entrepreneurs is, I WISH I HAD KNOWN THIS SOME TIME AGO
  3. Compiled next are five main lessons relevant to issues common across the industries.
  4. LESSON # 1
  5. During the starting phase there are a lot of ideas going back and forth
  6. Don’t try to implement all the ideas in one go. It’ll hamper your focus.
  7. Instead nail down one idea. Something which packs the maximum punch.
  8. Then focus exclusively on this and execute it.
  9. LESSON # 2
  10. Raising capital is always a challenging process. It’s marked with uncertainty and risk.
  11. The fundraising process takes time. It can involve several rounds taking up to a year at times.
  12. Anticipate and keep this in mind. It can have a huge impact on finances.
  13. LESSON # 3
  14. Do a reality check. The rosy picture your plan paints and actual reality are mostly different.
  15. Trench is as much a part of growth. Hitting the bottom before you succeed is almost a rite of passage.
  16. Remain focussed on the purpose. Strengthen the belief system that binds you together as a team.
  17. At times it’s sheer luck at play. Hold your breath, wait out the dip and remember that it is darkest just before dawn
  18. LESSON # 4
  19. Recruit people who can get things done. However also take care of the cultural fit.
  20. Spend time & resources on hiring the right candidates. They are the people who will transform your ideas into reality.
  21. LESSON # 5
  22. Rites, rituals and recognition go a long way. It establishes team unity, increasing levels of employee morale and motivation.
  23. Apart from building culture they are also a platform to share updates.
  24. So keep these five points in mind, put on your entrepreneurial shoes and you are ready to race and compete with the best.
  25. This presentation is based on a talk by Dr. Ashwin Naik, Founder/CEO of Vaatsalya Healthcare. Visit Entrepreneur Academy for more useful resources for start-ups