“Failure Is Pillar of Success” - Indeed a true statement, but goes subjective without adding that it is even more important to learn from your failures. Not repeating the same mistakes is what helps in drafting your actual success tale!
“Firing Of Employees Is Bad”
Really? Then how about eating a rotten meal? Well, in business it is all about “give & take”. Deliver right performance timely & get paid for it timely. Nothing should be taken for granted, be it work, life or work-life! :P
“Everything is fair in Love & War” - Be it promotion of smart guys or firing the non-performers, every step is right & must be taken guilt-free, as it is intended for the goodness of your business. That non-performer will never feel guilty salary, so why should you before be gifting him a Termination Letter that? Tough world man, but not that tough to crack this simple code - “You Reap the seeds that you sow”.
“Advertisement and marketing are the key ingredient for successful business”, but only when these key ingredients are: - 1. used in right quantity, 2. spend wisely, 3. making conversions simultaneously. Otherwise, the moral of the story gets modified to: “Too many cooks spoil the broth”.
“Trials that don’t yield results are silly”. And why not? After-all an entrepreneur too gets paid for results and not trials. Even my mother does not spare me if I go empty handed after 1 month of struggle and hard work. Taking calculated risks is the crux of the matter.
Stretching rubber beyond elasticity gives not just pain in-return but even breaks the rubber itself. Similarly, dragging time-lines of customer on hourly work makes company rich but in reality, makes the company lose client in a longer run (employees being slacker). Hence, it’s better to put a strict target for team in advance, than expecting the client to be lenient or compassionate.
“Funding and VC money is must for scale”. Agree, but not ideally. At-times the result comes out to be no less than a botch! A well-established product, quite often, doesn’t require Funding & VC money (chiefly post the break-even point). With its USP noising loud & clear, it itself becomes self-sufficient to be commercially strong. Initial bootstrapping is all you need to pave the right business path, & not VC.
“Work life balance is good”, but not at the expense of work being neglected. For instance, people get an easy escape out saying it’s difficult to pick official calls, post office hours; but don’t even think twice before attending personal calls, numerous times during work hours. High time, right attitude is the call of the hour! After-all, you can’t have a million-dollar dream, with a minimum wage work ethic?
“IIT IIMs are smart people”. I feel its perception that matters. Because from where I see, it's not that those kids are smart but their parents were and had proper planning on how to make their children smart. It won’t be wrong to say that Smartness is the mother of further possibilities, but doing the right kind of planning hits the bull’s eye!
“Entrepreneurship is not about the idea but execution of it”. Having good idea doesn't mean it will be viable as well. It's good to go to Mars for a valentine date but not economical viable at least right now ;)
Foundation Really Matters! You need to have mobile app to run a business before that you need to have a business that can run in offline mode and mobile is another avenue to do it.
Don't execute innovative idea; people do not love change, do something that's common but execute it differently. Experimenting in work is good, but not at the cost of going too different & out of the box that it becomes difficult for the target audience.
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BigohTech Notation