Startups & Team Building

It's very important to start a new venture with right set of mindset, passion, execution skills and people.

All the four skills are like individual wheel of car, any one of those goes off sync and chances of fatal learning experiences gets higher. Everything that happen till an entrepreneur successfully creates value in the ecosystem are products of right or wrong decisions. Which essentially and indirectly could be called learnings.

As much as I have seen and being a first generation entrepreneur myself start ups are not about destinations but they are also equally important about journey and people in it.

Having a good business idea and good team is very important. Here are couple of learnings I have come across so far -

1. Stay connected to goal even though path holds equal importance.

2. Be honest as well strict towards work with your team. This does not mean you have to be rude.

3. Idea may fail if you choose wrong set of people or not put efforts in the right way.

4. Don't feel bad if you have to act logical toward bringing in and out people from ecosystem. It's a sad reality but there are many people who does everything in their power to worry about work but not the work. These people might rot your system and maybe for a while your dream of building something.

5. Don't be afraid to experiment something new, or probably expand your services or product portfolio. It should not go completely off track from the idea but genuinely innovating something or building and selling something over the top may be very helpful in long run.

6. Don't waste time with makeshift tech or any other gigs. Always define what you want and when you want. Any of this goes off timeline immediately look for a solution. More delay will get your farther from the goal.

7. For the first 20 hires, Do not. I repeat do not onboard people who are shifting just because they are getting a good hike. These will be the most harmful people to the system in the long run and one way or another this will be realised by all the stakeholders. If money brought you happiness you never wanted to jump the ships and build something of your own. Further, Your core team should be working and putting in same efforts as much as you do. Otherwise you might feel left out. Be selective with whom you want to start the journey.

8. Hire preferably young talents and before bringing them in the ecosystem keep your induction and training tool kit ready. I am sure nobody think about this, but this make the life really very easy, while training and dealing with fresh mind.

9. Fresh passouts people may appear headache today but they on long run may become 1st, 2nd or 3rd level pillars. I am sure you don't want to buy a pillar and just put it their as if you are building a modular building.

10. Keep exploring what's happening in the market there is always a room for new learnings. Never fail to skip this.

11. Focus on yourself, family, health, mental health and wealth. Any order is ok. Just these specifics should be ingredients.

12. Networking plays a good role. Maybe think about letting off your bad ghost that make you say wrong things when not required. A positive attitude is always appreciated.

Always remember your passion brought you where you are today. Don't let any external factor come and impact what you wanted to build. Just go for it and not stop till it's done as you wanted or as the customers wanted.

Signing off for the day...

Prabhash