Setting up a business is not so easy! It involves complex processes and a lot of thinking.. There are many positive sides of doing business but here (below) we have listed down a few harsh realities..
You are not a Superman, you can’t do it all yourself:
The whole idea behind the Business may be yours. But think realistically for a minute here, if you delegate a job that needs to be taken care of to a person who can handle it at the execution level then you are at a much better position to supervise and implement any changes if required. Delegation of authority is extremely important to run any business and it is very vital that you find the right person for that job.
Your close ones will not understand what you do:
It’s actually pretty simple, if you are setting up your business that means you are without a job. There’s more than half a chance that people will still not acknowledge you as a business man, even when you have considerable amount of work to showcase.
Do not worry in such a situation. It’s not their appreciation that you are after, as a business man your objectives are much greater and all you need is customer’s response to your business, no matter whichever trade you may have set up.
Wright brothers were laughed at when they tried to explain their concept of flying. For people, it was a farfetched thought, even when the brothers actually started working on it they were constantly at the receiving end of the people who always seemed to have opinion regarding everything, it is only when they demonstrated its function to public did they receive ample recognition and acceptance.
Building a team is no child’s play:
You have an Idea and you decide on starting up a business based on that Idea. So, you are excited and want to dive right into it. But wait a second, where is your team? It’s not a one man show, as referred above, it’s all about delegating work effectively, but even that cannot be done without hiring people and building a team. You have a vision for your Business’s growth; similarly others you meet may have their own Ideas.
The onus falls on you regarding whom to hire and how will that person contribute towards achieving your objective. Each person has their own core competency and you have to effectively distinguish one from other and filter out whom to include in your dream run of a business.
Go Hard or Go Home
Setting up a business is not about just buying an office space hiring a few people and doing what every other company does. Are you ready to walk that extra mile? If yes, then go all-out in making sure that it creates a niche for itself, or go home. The very instance you complain about something, its Knock Out. Know your limitations and work on solving it.
It has been said numerous times that an entrepreneur is supposed to be an adventurer. What it means is that an adventurer doesn’t get the kicks from the rewards of taking a risk, but gains utility from the risk itself.
Lastly, I’ll leave you all with a very thought-provoking quote by one of India’s best strategist and a Kingmaker
‘Once you start a working on something, do not be afraid of failure and do not abandon it. People who work sincerely are the happiest’ – Chanakya (c. 350–275 BCE)
This is a guest post written by Krutant who is actively involved in an upcoming management film ‘Chanakya Speaks‘
That’s true. Business is not one man show. Its easy to set-up but difficult to run.