Met up with three youngsters in last week’s business clinic workshop – working hard to make their venture successful. They have seen little success in their two year old product development company focused on Agrotech.
Product idea is great – that’s what the awards from 5 leading institutions seem to highlight. They have distributors lined up with cash deposited in the bank. Customers are calling in every other day enquiring when they can see the product in action. There is a competition amongst 3 VCs to fund/participate.
What is the issue?
It took us about 15 mins to realize that the problem was with the promoters! They had decided to experiment a product idea and embarked on an attempt to realize a vaguely formed entrepreneurship journey. They had everything but the zeal to go the entire mile.
One of them felt that it is too much of commitment. Another believes that they should only create a product and let someone else take and run with it. Remaining founder feels that they should call it quits as their experiment is over! Unbelievable. But True!
It was the classic case of blundering into an undertaking out of a vague sense of desire/ duty, nagging, or peer pressure, only to realize part way through that it is not within our scope, talents, or time!
Embarking on a journey requires preparation and commitment to complete it. Entrepreneurship is a journey that creates its own dependency, expectations and impact for the people who come in various forms – employees, customers, market, etc…
“Never stop till things are done” is a good motivator. But, “don’t start the journey if the job on hand is not worthwhile or doable” is the first part – known only to successful leaders/ entrepreneurs!
Best strategy is as Sun Tzu suggests:
The leader of an army acts
like one who has climbed up
a height and then kicks away
the ladder behind him.
Think twice, may be thrice before you start. Once you are on the walk, remember there is no exit path! That’s how winners run their lives!
If you are a leader, don’t forget to kick the ladder once you have climbed up! Leave no chance to run away!
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