Business Tips

Humans are hard-wired to hold on to their pride. More often than not, the fuel to grow as an entrepreneur comes from being jealous of other successful entrepreneurs. That’s not a good way to fuel growth. If you want to become successful so that you can feel better in front of people who you had jealousy on, you are probably having a misguided goal. You need to redefine your goal and have a purpose that is larger than you. Your growth shouldn’t be fuelled by your need to feel superior. You should want to become successful because you want to …

Read moreLearn to Ask for Help, Shamelessly

When we can get something in return for our efforts, we are usually motivated to do it. If I tell you that you have to do a certain work for 30 days, I will give you X amount of money in return, you would usually take it if the money is good enough. One of the reasons why there are a very few entrepreneurs and a large number of people who work for entrepreneurs is because most of the people out there are uncomfortable with investing time, energy and money into something that might or might not give returns. The …

Read moreEntrepreneurship is a Lottery of Efforts

Money is one of the most important things to think about when building a startup. For many entrepreneurs, it is an emotional topic. As soon as we bring up the concept of money, people get uncomfortable. One of the reasons why people focus so much on vanity metrics in startups like reach, followers, page views, brand value, marketshare and so on is because they are not comfortable talking about money. Money takes you on a date with reality and people resist it. To be brutally honest, the only metric that matters for a startup is its finances. Revenue, profits, investment …

Read moreYou Can’t Build a Profitable Startup Without Debt

I’m a guy who advocates thinking big and having intimidating dreams. However, if you get too fixated at your dreams and goals, you might be hurting yourself. Its common among entrepreneurs to have an obsession towards dreams and goals. If the obsession is not balanced, it might hurt your chances of achieving your dreams. It is important to introspect because you might be over-obsessed without realizing it. When you develop an unhealthy obsession towards your goals, you become narrow minded. You choose a path and get fixated on it. You might still be making progress, but you might be in …

Read moreBe Open to Opportunities and Connect the Dots Backwards

The world is changing around us faster than ever. The internet is hardly a few decades old and it has changed the way humans live in this world. Technology is growing at a faster pace than we could catch up with. Before the internet era, things did not change much. Life was pretty much the same. Things changed over half a century or sometimes a century. Invention of electricity, radio, TV and telephone did change civilisation for the better, but it happened over a long period of time. Nothing like what’s happening right now with the internet. When people carried …

Read moreInvest Time and Money in Learning new Skills

As a founder of a startup company, entrepreneurs know the challenges involved in growing the startup. Things might look rosy from the outside, but founders know that they are on thin ice. Even if your startup has survived for a few years, you are always in constant threat of the business failing. Market changes, competition, government regulation updates, changes in the management team and many more threats are just around the corner ready to kill your startup. However, friends and family see you differently. As soon as you have a startup with an office and more than five employees, people see …

Read moreNever Hire Your Friends or Family at Your Startup

Almost every startup founder goes through a phase of uncertainty. 95% of the businesses fail in the long run. When you are six months to one year down your startup, you will face a period where you think that all this might not work. And you will start thinking about a plan B. What if the startup fails? The tricky part here is that, your business is more likely to fail if you have a plan B. Entrepreneurship can be very hard and taxing for the founder. Entrepreneurship demands time, money and energy. Even if the startup is working well …

Read moreYour Startup is Your Plan A. Have no Plan B.