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Zero To Crore

The art of business

I was at a summit on “The Art of Entrepreneurship”  which was attended by over 100s of budding entrepreneurs, startups and SME Business owners. I learned and shared the following:

1. As an entrepreneur you must invent failure else failure will invent you.

2. Don’t invest in business where the entrepreneur has plan B. Also don’t invest in CV.

3. What’s the lovemark that would attract your customers and stakeholders towards your business.

4. For 5 years nourish the business, for 5 -10 years care and control, for 10 to 25 years empower your business and after 25 free it from your clutch and control.

5. Unless you find a woman’s customer taking away her wallet with a smile for your product don’t start.

6. As Monalisa cannot be created in the lab so is the business- you must go out and get going unless you discover your pearl.

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Location, location, and location

I was thrown a question:

Two people with relatively equal skills, graduated from same college, both were class toppers, both has similar domain knowledge, both know how to use their tools effectively – yet one still does better than other; one flourishes while the other strugles. Why so?

I remember, I was once told, only three things to consider when starting a new business—location, location, and location.

I thought on this a bit deeper about the location factor. In other words, not about “Where are you going to do?” but “Where are you going to be?”

Are you going to be in a place called fear, or in a place called love? Where are you —and where are you coming from—as you encounter life? Now, in the example of the two equally qualified workers, one is successful and the other is not, the real reason, I found;

One person is being open, friendly, caring, helpful, considerate, cheerful, confident, even joyful in his work, while the other is being closed, distant, uncaring, inconsiderate, grumpy, even resentful of what he is doing. Now suppose you were to select, what if you were to select between these two? What then would be your experience?

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Live yourself. Live honest. Live present.

Last week, I was hosting TiE entrepreneurs over “business builder breakfast”. Post the event, I was interacting with a guy and he said “you’ve spoken and answered with such a simplicity that it made us feel like entrepreneurship is nothing except our everyday life. Your words were so close to your heart and we stayed connected throughout.”

My life experience says – live yourself and there are ample amount of people who will connect, conduct and care for you. Live honest and see yourself at the top list when people think of trust, credibility and loyalty. Live present and enjoy the moments as gifted to you and keep engaging, interacting and solving real issues with real self.

Have a blessed day!

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The right way to start a business

An aspiring entrepreneur asked me during the workshop, “I want to start a business, but I don’t know how and where to begin.”

A person from the audience replied, “The best way to start your business is to start now.” The audience applauded and I wished it was that simple.

In my opinion, the ideal way to start a business is to have an idea and then ask yourself, “Why is no one else pursuing this valuable opportunity?”

Then, you need to answer three crucial questions: First, what is valuable? Second, what can I do? And third, what is no one else doing?

This will give you the confidence to move forward and build a business that validates your idea – whether you should start it or not.

As a good #entrepreneur, you should run your business in a way that enables you to generate new ideas, experiment, fail, learn and succeed.

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Why starting up is important than the size of your startup?

Imagine possessing an idea of immense potential—a concept capable of reshaping the world and leaving an indelible mark on humanity. When aspiring entrepreneurs approach me, seeking guidance and sharing their plans, I often pose a pivotal question:

“With this remarkable idea, do you aspire to rapidly expand, secure substantial funding, and attain dominance?
Do you prefer measured growth, striving for profitability, prioritizing customer satisfaction, and gradually achieving prominence?”

In response, I observe a momentary hesitation, followed by hesitant nods, mostly leaning towards the first option. It is intriguing to witness this inclination, as renowned companies such as Uber, Airbnb, and Facebook began their journeys with a humble vision: “To solve the problems of a specific group of customers.” With unwavering brilliance, they executed this vision flawlessly.

What sets these transformative enterprises apart is their foundation built upon essential pillars: exceptional products, successful commerce, profitability, customer loyalty, and unwavering focus. These elements serve as the cornerstones for their remarkable growth, both in size and speed, while maintaining a steadfast commitment to profitability.

It is crucial to recognize that the path to building a substantial company is paved by addressing the needs of a specific customer base. By providing an exceptional solution to their problems, these businesses earn trust, loyalty, and expand their reach organically. Gradually, their reputation grows, serving as a springboard for future success.

So, as you embark on your entrepreneurial journey, remember the significance of a solid foundation. Seek to understand your target customers deeply, craft a stellar product, and focus on profitability. Let these principles guide you towards sustainable growth, allowing your aspirations to blossom and impact the world in profound ways.

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