All great changes
are preceded by Chaos
A new business is chaos. There’s no
systems or structure in place. If you hate chaos then you may want
to reconsider starting a business. Chaos is not for everyone and
that’s why there are traditional jobs.
Big ego equals
big problems, keep a watch
As a business and a founder, having a
healthy ego can be a great thing. It’s your ego that can give you
the self-respect and the self-confidence to take the risks it will
take to start a business in the first place. However, when it’s not
kept in check, your ego can run rampant and actually be detrimental
to your business. You would think that the ego would make you push
toward the “biggest and the best” of everything for your business.
but ego is complacent and resists change
You got a business, so what? You’re not
better than the next person because you started a business. Starting
a business is not a badge of honor that comes with a gold medal.
Pipe down your ego. Resist the urge to put “founder” and
“entrepreneur” on everything you do as if you went to Mukesh Ambani
College as part of your business journey.
all the time, sometimes is ok
I have really struggled with this over
the years. I feel like I have to control everything, which leads to
micromanaging every aspect of my business. Obviously you want to
care about the details regarding your business. Here’s the thing
though, you and your team aren’t perfect. There will be times when
expectations aren’t met. And, that should be perfectly acceptable.
But, instead of being overbearing, critical and constantly watching
your team, you’re creating a culture where your team believes that
you don’t trust them, so don’t do it and keep a watch.
In other words, micromanagement doesn’t
work. Back off a little and give your team the freedom to shine on
present is the game
Its heartening to say that having a
digital option is the key, we have come so far in the internet
journey and today if we do not have a digital option, then a mystery
health crisis like Covid 19 would kill your business. so think
through, and see — Can I buy your product or service without leaving
home and have it delivered to me? Or, can you still add value to our
lives from the comfort of our home? These questions explain your
digital strategy. Because digital just means business, and it’s how
you stay in business.
Hire people way
smarter than you, very very important
The best people I’ve hired over the
years are far smarter than me. The business owner doesn’t need to be
the smartest person in the room.
Find smart people who have niche skills
and leverage their expertise, rather than try to be a jack of all
trades, master of none.
& network and always have your mailing list
I can’t say I was late to the party on
this one, I have still not reached there yet. The platforms you
market your business on are not owned by you. Your social media
accounts can be taken away from you at any time and you don’t own
your customer’s contact details.
A follower is an unknown person you can
An email address is a prospect.
email address can turn a prospect into a customer. so work on it and
Learn how to lead
People are at the heart of any
business. Even if you are a one man band in business, you will have
to work with people at some stage, even if they are not employees
and act as freelancers.
A leader is one who
knows the way, goes the way and shows the way.
If you know what motivates people, you
can link the outcomes of their work to who they want to become.
Human interaction is one of the hardest things to learn in business.
People have biases, beliefs, issues, and mindsets that prevent them
from being effective.
A simple business task should be easy
to do but once you involve people, it gets complicated.
People make decisions not based on
business logic. People act as an x-factor. That’s why it pays to
understand people so you can lead them.
Going big is
overrated, not required in all the scenarios
Going big in business is overrated. The
bigger your business gets the more stress you take on. If you’re
making enough money to cover what you need, why risk it all to go
big and potentially be left with nothing? It’s a question worth
asking. How big is too big?
A global lockdown ended so many
businesses which tried to expand beyond their reach
So if your business can be managed and
the growth can be organic, that’s advisable.
My bits, try and use
your customer money to expand, that’s the best way. Customer
love is the most important thing.
That’s it for now, and am sure all the
above would give you lots of motivation and insights, those are my
learnings and my advice. Am sure everyone is different and will look
at it differently. But if my experience can help even one person
then I am home.
Please share your views and advice as
While I move to a new journey would
like to say that “Life is like riding a bicycle, to keep your
balance, you should keep moving.”