A Few Important Suggestions For Start-Up Entrepreneurs

Entrepreneurship is about nurturing something from a simple thought to something with a full-blown life of its own. Something which, over a period of time, can continue to live, grow and flourish, even if you are not present on that journey.

Launching a start-up is like having a kid. It needs much more than a great idea: it involves a lot of thinking and planning before you take on that responsibility. It demands mental, financial, physical and social commitment from you and your partner or co-founder.

You need to be absolutely sure and totally prepared before taking that plunge because you and you alone, are the most important factor in your success and if you get yourself right, half the battle is over. But if you are not assured on all fronts and if you don’t get yourself right, then you might have problems cropping up in your start-up, when things are not going too well. And if you are not confident about your ability to become an entrepreneur, then do not waste a few good years of your life and a whole lot of money chasing that will-othe-wisplet it remain a dream.

The biggest creators of start-ups and supporters of entrepreneurship are the venture capitalists (VCs), who have invested heavily in both. Most of the time, VCs believe that out of ten start-ups, only one will work. And they say this out of experience.

\A start-up is also about being able to get a group of like-minded people to come together to work. In other words, to work as a team. In large companies, people work for a career, a salary and out of a desire to learn. In a start-up, people work for all that as well as for a vision and an aspiration to create something with their own hands. A start-up entails unpredictability, a lot of work, sometimes a lack of talent, a lack of resources, a lack of funds and, perpetually, a shortage of time.

In such a scenario, it is vitally important to have people who are willing to help and to fill in for each other. Unlike large organizations where role descriptions and vertical responsibilities are well defined, a start-up calls on everybody to do everything. A lot of deep-seated motivation, a willingness to shoulder responsibility, team spirit and ever-ready support are required from co-workers. It is very important that all the people working in a start-up should enjoy working together and, ideally, are learning and drawing inspiration from each other. The way you are outside the workplace, that is the kind of entrepreneur you will become Entrepreneurship is not a job, but a life that you are called upon to lead, something that you willingly accept as a life in all spheres.

The University Canada West provides a variety of business and management related programs for start-up entrepreneurs.

Categories: Business