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The Dark side of Entrepreneurship

One of my close friends convinced me to start my first venture. I was so intrigued by what is Entrepreneurship that I left a decent paying cushiony job as a programmer to test the waters of Entrepreneurship. Trust me. All the fuss about Entrepreneurs makes starting your own venture so tempting. Those were the days when leaving a job was the biggest crime that can be committed by a middle-class family person. The marriage stocks would plummet. Family standing would go down. Everyone would talk behind your back on your foolishness. How naïve could you be to leave a job in an IT Company? We...

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How do Entrepreneurs handle Failure?

Success has many fathers but Failure is an Orphan. And in the mean world of business, failures are not rewarded. They are looked down and Frowned upon. “The National Venture Capital Association estimates that 25% to 30% of venture-backed businesses fail.” “according to U.S. Census data, only 48.8 percent of the new establishments started between 1977 and 2000 were alive at age five.” This is for small businesses. The failure rate is much worse than for “startups”. The irony in the above statement is. They do not even have a number for failures in startups. They have left us to our imagination.  We have to figure out the failure rate in “startups”. Entrepreneurs and Failures: Failures are quite common in startups. An entrepreneur might fail in raising funds. Delivering work. Making sales. Keeping employees happy. Managing a work – social balance. Returning money to investors. Worse. Fail the startup. I know all the above sound very common to all the businesses or any salaried person. So why am I focussing only on entrepreneurs in startups? Entrepreneurs in startups are always hanging by a thin wire. They are low on funds (bootstrapped startups). Are trying something new and are under tremendous pressure to succeed and are always trying to win a losing battle. The “pressure” is nothing in comparison to what a normal business owner or a salaried person might feel. I recently...

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How 3 Outsourcing mistakes led to Closure of my Startup

Rank My leader was my dream startup. The single platform to allow all political leaders to be evaluated real-time based on news. The web portal failed because of some blunders I did while outsourcing almost all work of the portal. There are books written on how to outsource smartly. Benefits of Outsourcing. Tips to outsource, etc, etc but when outsourcing goes bad, the business built with the help of outsourcing is bound to go south. The pros and cons of IT outsourcing are widely debated. I outsourced most of my work via upwork. The cons outnumber pros of Outsourcing. The...

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3 Reasons Why Startups should Bootstrap

Indian Startups had a stormy start to 2016. The Unicorn startup in Indian Startup Space, Flipkart was de-valuated by few investors. This was followed by closure of another famous grocery delivery service PepperTap. (what went wrong with Indian startups in last 1 year) The lessons from the storm were many. But there was none stronger than the most fundamental rule of startups. “Startups should bootstrap. Get some traction and then get an Investor”. Burning Cash on Customer acquisition maniacally will lead your startup anywhere. Our Startups forgot the basic fundamental of business. Hence, the turmoil. For a startup, Bootstrapping...

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Can Entrepreneur afford “Comfort Zones”?

 “Life begins at the end of your comfort zone.” – Neale Donald Walsch What is a Comfort Zone? Brown describes it as “Where our uncertainty, scarcity and vulnerability are minimized — where we believe we’ll have access to enough love, food, talent, time, admiration. Where we feel we have some control.” (source : Wikipedia.com)  How is Comfort Zone created in the professional world? Our professional lives make us perfect in what we do. Programmers code | Sales guys sell | Accountants handle accounting. The whole routine of our professional life is repetitive and to an extent mundane. Inadvertently, without us realizing we start living...

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