Looking to Start Up? Here Are 5 Must-Haves
A lot of millennials nowadays are choosing to start out on their own.
A lot of millennials nowadays are choosing to start out on their own instead of settling for the conventional 9-to-5 jobs. They are confident about their potential, believe in their ideas and are passionate about being job creators, rather than just being employees. Most of all, they are willing to take the risks that come along with their decision. This explains why India is home to numerous start-ups, some of which have gone on to script amazing success stories. If you too are looking to start up, but don’t know how to go about it, here’s a handy guide on some of the must-haves:
#1 Unrelenting commitment
The foundation of every start-up is self-belief. Before convincing anyone else about your idea, it’s absolutely essential that you believe in it and are committed to it, come what may. Only then will you be able to make others see the potential your idea has. It’s not going to be an easy journey and you must be prepared for the grind. As a future start-up founder, you can leave little to chance. The groundwork of building a start-up never stops and there are a lot of things you will have to do on the go: reworking VC pitches, replying to mails, making video calls and lots more. You must always have your guard up. This is where a strong mobile network such as Airtel has you covered. Airtel’s high-speed and superior connectivity will ensure that you are always connected, irrespective of where you are. This way, nothing will come between you and your start-up dream.
#2 Ability to convince your investors
You must have the ability to convince your potential investors to back your start-up idea. After all, they are the ones who will be putting their money behind it. So you should be fully prepared to answer all their questions and clear their doubts, if any.
It’s also essential to have a future roadmap ready when approaching investors.
It will show them the scalability and growth potential of your idea. This will only increase your chances of getting a funding.
#3 Budgeting sense
While starting up, one thing that you should be very mindful about is your budget. No point going overboard with expenses in the beginning only to regret later. So right from the first step you take, you should be careful about allocating funds wisely: don’t over-hire, work out of a co-working space till you are able to rent a place of your own and have realistic growth plans.
#4 Risk appetite
When starting out on your own, things may not always go as planned. So you should be prepared to take that risk and deal with unpredictable outcomes. It’s not like a regular job where you can switch companies. This is your own business. You should be willing to take failures in your stride and move on. And if you ask any start-up founder, they will tell you how it’s experiences like these that actually toughen you.
#5 Great sense of timing
If you are looking to start up, you should have a great sense of timing and your business idea should be novel. There’s no point entering a space that’s already overcrowded.
You should be able to see opportunities and potential where others can’t.
The best of start-up founders have timed their entry into the market such that they have been the first-movers in that space and this has immensely benefited their business. It’s all about good timing.
So if you too think that you have a business idea that has the potential to change the world, it’s time to ditch your job and wear the start-up hat!
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