Appscrip is celebrating 5 years of its existence today and what a journey its been.
😇 Thought of sharing some of my learnings from these years:
1. There are no short cuts to success
Work smart is, of course, important but in entrepreneurship, it is about working “smart-hard” so you need to be smart for a lot of hours.
Success achieved by shortcuts is short-lived; we often get tempted by the shortcuts and ignore the loopholes of that shortcut but later realize how big a mistake it was.
2. Entrepreneurship is like a slow-cycling race
If you have to win this contest, the only way you can do it is to maintain a measured pace, focus only on yourself/ your cycle and most importantly maintain your balance.
If you start looking out at your competitors, you will lose your balance. If you go too fast you don’t win. If you go too slow you fall. To maintain balance, back yourself and focus only on your own journey.
3. A popular question Investors often ask
When will you sell? A business is like an entrepreneur’s baby, selling it is not an option, rather think how you would nurture it.
Make it grow and let go of it only when someone else can take better care of it than you.
4. Think binary ( YES / NO )
Don’t be afraid to take decisions. An average entrepreneur takes at-least 5 decisions every hour. Weigh the risks, go with the gut but don’t hold back from taking a call.
You only learn from mistakes, make as many as you can as early as you can. Remember the cost of a mistake is a lot lower at the start of the entrepreneur’s journey but the learnings from them are worth their weight in gold.
5. Be mentally strong and self-sufficient
Do not lookout for people to support you. People choose interest and convenience.
The feeling of always being on the edge of the cliff without anyone to hold your hand gives you a stronger sense of responsibility and greatly impacts your critical decision making.
6. Chase name and legacy
Build an organization that will outlast you. Money usually follows name and its never the other way round. We all come from different backgrounds, have faced different limitations and have different stories and thus our success timelines are also different.
Success is Success whether it comes to you in your 20s or 40s. Most of the times the hard-fought success is more fulfilling and long-lasting than the instantly earned one.
7. Don’t take nonsense from anyone
Do not compromise on your vision and learn to say – NO. You only need a few people/ clients to support you not the whole world.
You will always find some people who are on the same page and are willing to back your vision. Take them along as you rise and always be grateful. The world will follow.
8. Entrepreneurship is a lonely journey
Read a lot of self-help books, stories of other entrepreneurs. Be a part of an informal group of entrepreneurs.
This will be one of the best support groups you will ever find. Visualize your way out of temporary setbacks.
9. As a David (bootstrapped entrepreneur) you will be fighting with not 1 but several Goliaths (competitors) simultaneously in different directions
The only way you can survive is by being yourself, preparing well and focusing on the process. Your attitude will determine your altitude in life.
No one (including competitors and investors) has the power to change your life. That power solely rests with you.
10. Keep your family happy
What will make you effective, is your ability to not only build a successful business but manage your time in a way that allows them to maintain a healthy personal life throughout the process?
While some entrepreneurs operate from the mentality of “Whatever it takes, whatever the cost, make it happen,” I am a firm believer that whatever you sacrifice in the short term with your interpersonal relationships and personal health, you will end up paying for in the long run.
11. As an entrepreneur, it’s blessed to give than to receive
Be a Go-Giver. I see a lot of entrepreneurs who are everywhere trying to seek something or other. Try to give more and you will definitely receive more.
Be genuinely interested in helping others and this will come back to you in bigger proportions and from unknown quarters. Lastly summing it up.
“I simply love- Entrepreneurship is like Building a Castle in the air and then designing a Ship to take you there”