Running a business magazine, I get to see some real good stuff behind businesses and some not so good stuff. Here I would like to focus on the small and medium ventures in our country. The good stuff is the dexterity with which we think about business… we own an appetite for risk, we are great optimists, and we are fast to open and close down businesses and move to the next one. But when it comes to market research, integrity, product positioning, sales and after sales service, and good old consistent effort, we seemingly lose the plot! The sad part is that customers often settle for this. Rarely is a business taken to task for poor quality of product, not meeting client expectations, being over priced or not meeting the norms of conducting business ethically.
Most young entrepreneurs and start ups are lured by the idea of being your own boss. While it’s great to see a 20 year old with a CEO tag and the media creates the necessary hype, it’s time we really give ourselves a hard look. Does the title justify what you do? Do you have what it takes to be an entrepreneur? Have you worked enough for every single paisa you earn or have invested? Do your books reflect the Image of success you project? Do you comply with the laws pertaining to business? Are you creating value for your customer? Are you fulfilling a need in society? Are you passionate about what you do? Can you sell? Do you have the stamina and flexibility required for the long run? Are you committed? All businesses must speak profit. Ultimately whatever the nature of your business, numbers count! But beyond numbers is the big question: how do you plan to grow your business. Above all, you need a single minded sense of purpose and you need thick skin to beat the odds.
If you are giving it your all, it must align with your inner values and the person you really are. Fitting in, standing out, whatever your choice, the important thing that makes you excel at what you do, gives you happiness and fills you with purpose is that you are true to yourself. Entrepreneurship ultimately is who you are. It’s a mindset. Its how you think, eat, sleep, breathe, walk, talk and all in between. It’s a way of life!
Until the next issue,