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Five Tips For Wantrepreneurs Who Have Just Taken Their First Step

No one is born a sprinter. We all learn to push ourselves up from the floor and then balance before taking that first, wobbly step. It is an individual choice where to go from there. ― Richelle E. Goodrich

A journey of a thousand miles begins with a single step. As wantrepreneurs, you may have big dream and plans about your future startup but you have to begin somewhere. Getting started will give vision to your dreams. Stop dreaming about your multibillion dollar unicorn – start today – start now.  As an aspiring entrepreneur – you may entail challenges, glitches, complications and lot of hurdles but everything gets sweetened with the potential rewards of a successful startup. Trust me there is no reason for you not to achieve the same or better success which other startups have achieved.

Here are five tips for wantrepreneurs who have just taken their first step towards the journey of building a successful enterprise.

  1. Consider starting a small business instead of a startup

It is wise to understand early on that not every idea can grow exponentially as to be the next Facebook or Instagram, but can surely build a successful and profitable business by providing a great product or a service to the people.

Having a small business is a complete game changer because here the main goal is to have the foundation for a successful business and serve the customers in the best way. While a startup-unicorn, as it is commonly known, would aim to grow big and fast by getting most of the investments, a small online business would simply grow within the limits, serve its customers and gain profitability. Read More

  1. Focus on what’s important for your startup

No one would want to have a business which is great one day and closes the shop the very next day. Focusing only on receiving funding, and not paying attention to the actual business functions is going to screw up your business. When people are trying to raise money, they think they have the most unique and the so-called disruptive and innovative idea that is going to change the market. Think of it again. Is it really that disruptive and innovative? And if it is, then why are the investors not running behind you and why must you chase them for funding. Focus on building business – small things – small efforts will result in big outcomes. Read More

  1. Your success depends on who you are!

Business is a creation of an entrepreneur. While a person thinks deep about his business, several facts help him discover his business. These facts or words describe an entrepreneur. Yes, these attributes are the essential success factors that will decide your trajectory. Read More

  1. Go Lean – create minimum viable product – test it – go big! (Investors will love you)

Lean Startup isn’t about being cheap [but is about] being less wasteful & still doing things that are big. The model has gained great attention over few years. It favors experimentation over planning, mitigates the risk of guessing and iterates development rather than the traditional large scale water-fall projects. It’s about encouraging to create a “Minimum Viable Product”, testing it with the real-world customers and then basis the learnings – developing the business model, products and services. Investors love these kinds of Startups. Read More

  1. Wrong reasons for choosing entrepreneurship

If you want to become an entrepreneur, you’re not alone. Star-studded films like The Social Network and Steve Jobs have put startup culture in the limelight. It’s no surprise so many people are considering embarking on the entrepreneurial journey.

Unfortunately, however, these glitzy portrayals of entrepreneurship may motivate some to start a business for the wrong reasons. And by putting the wrong foot forward, these entrepreneurs may ultimately trip and fail at their ventures. But this doesn’t have to be you. Before starting out, avoid failure by ensuring you’re not pursuing entrepreneurship for the following wrong reasons. Read More

So, there you have it, a few insights into reality that might help you save yourself from worrying and stressing out. While you do take in everything that I have said and come up with your own experiences, don’t forget to enjoy this experience because your next business won’t be your first business ever!

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I'm a self confessed foodie, king of the kitchen, wannabe anthropologist, technology evangelist , curious, inquisitive & experimental entrepreneur at @DigiLands and an adrenaline junkie. Love spending time with my wife & two young children and faulty KitKats that consist purely of solid chocolate.

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