I have been absent a long time and, I (wishfully) hope that the only person who has noticed my absence is me.
Over the past six to eight months, I have faltered and failed more times than I would like: my key lessons, that I hope will propel my next phase of (messy) growth, are the subject of my post.
Entrepreneurship is creative
Entrepreneurship is a creative process, and if you come from a straight-laced corporate background, as I do, than this can be a challenge. My mindset has dramatically changed to become more fluid and adaptable. I realise, the process requires me to break things such as relations I have outgrown, and this is entrepreneurship 101.
Customer centric feedback loop is critical
When one tries to solve a problem, a constant feedback loop with users should be one of the first things you create after you have a good working model. This rule applies to technology-related applications and physical and tangible products. Your customer’s feedback is gospel. For example, I recently thought I was testing the texture and consistency of a lip product. However I underestimated the importance of colour and the actual look and feel of the container housing the lip product. Users who disliked the lip product were fixated on the colour and forgot to give feedback on other questions.
Entrepreneurship is not a one man show
Unless you are a polymath, its unlikely that you are a subject-matter expert on everything from manufacturing to marketing (the dreaded M&Ms). Time spent locating the right resources and cultivating them is time well-spent.
Best in class and entrepreneurship?
Do not feel guilty about being demanding about the standards and quality of your product. BUT recognize that market timing is an unforgiving and unpredictable factor that should govern all your deadlines. Also, whom are you really making changes for? Is it your end-users or, is it your satisfaction?
Entrepreneurship’s why
Understand and constantly revisit your “why.” Entrepreneurship is easily the most isolating and lonely experience of my life, so my “why” (which I will discuss) is my strongest core belief and what keeps me going at 6am and 9pm.
My “why”
Initially, my “why” was a measurable goal: become no 1 skincare brand.
This binary goal stopped exciting me a long time ago. I am not only obsessed with how many units I sell or cost/unit. I dwell on benefit my work will/ should bring to society, specifically India.
I am Indian, but the one place I have been viciously burnt is India. I could do my work in the US or Europe and it would be easier. BUT I am going to manufacture in India because I want the know-how to develop in my country and there to be job creation.
What I am endeavouring to do was never about ticking a box (e.g.) becoming the Chief XYZ. I want my work to benefit my people through the products I sell and the employment I create: I do this knowing the ROI on my personal outlay is zero.
However, if what I do, propels the Indian Beauty industry to be best in class then I have already won.
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What to read on my blog
Books on entrepreneurship to read
A good way to connect to other women, is to attend women-only networks. There are many of these.
I am part of the female fusion network in Dubai. Here is the link
https://www.femalefusionnetwork.com/