It was my 10-year B-school reunion recently, and frankly, it was, to use an Americanism, downright awesome. It was a delight to see many of my classmates, who have excelled in their circumstances. Many are big shots. Some, like me, have chosen entrepreneurship as a calling because we believe we can change the world.
What I loved the most about hanging out with a bunch of smarty pants with matching experiences (and Jimmy Choos) is when you ask for their advice, you get unfiltered and candid opinions. A spade is a spade and not an implement designed to disturb earthworm patterns in the space that was formerly part of a jungle.
The most significant feedback I received relates to my entrepreneurship journey, which I have incorporated below.
I wanted to share this on LinkedIn as most entrepreneurship stories are post-fact. Few (no surprises here) talk about the actual journey itself.
1) There is little room for uncorrected errors
I’ve been uncomfortable in my skin for a few months (I think its what a mid-life crisis would feel like) because I’ve been half-heartedly executing a designated strategy. I have never believed in its merits – but it is what everyone else is doing – and unsurprisingly, it’s not providing the returns I expected.
Lesson 101 of being an entrepreneur is that, unlike a professional, you can’t coast and (knowingly) do things that hurt the business because (e.g.) that’s what management want. For me, uncorrected errors will kill my business. Being agile, learning from my mistakes, and moving on with my own conviction are as critical to my business as cash is.
Also decisions need to be made and executed in days, not weeks. Time is not an entrepreneur’s friend (nor is haste).
2) Believe in your solution like a fanatic (the fuzzy and friendly kind)
Provided you have a real-world solution and market timing is right, you must believe in what you are doing. You need to think and execute that belief as if the life of your loved ones depends on it. Every day. 24/7.
3) Solpreneurs are made of a different material
I don’t have a co-founder (and the merits of this are another post), so it’s just moi. As a solopreneur, the fortunes of my business rise and fall with me. I can’t afford off days where I’m distracted by other people’s problems or what they may offer.
However, for me to do the best I possibly can, I have to be 100% committed physically, emotionally, and mentally to my work. There’s no alternative. And this scares me, as (e.g.) for each person in my life, I need to (ruthlessly) ask myself are you deserving of my very limited time and energy over my life’s work?
4) Are you an endurance athlete?
What is at the forefront of my mind is I need the physical fitness of an endurance athlete. My work requires it, as I can spend hours and hours on my feet.
What I am discovering as an entrepreneur is that who I am, is constantly evolving to meet the demands of my work. Embracing this type of growth is a given…
And yes, it’s in with the deep-end with the sharks, and like MacGyver, I only have a Swiss pen knife to outwit them.
#entrepreneurship #solopreneur #solopreneurs #indianentrepreneurs #lbs #Lbsreunion2022 #reunion