It is easy to look at a startup and remark on how successful it is. But, it takes lots of time, ups & downs, energy, lessons, and investment to make a startup successful and remarkable. Every entrepreneur cannot be successful, but successful ones always influence society, epically the young generation. Following are the seven lessons that we can learn from various entrepreneurship journeys around the corner-
1. Underestimating The Competition
‘Underestimating your competition leads you to nowhere, this is an old saying but quite meaningful. It is a fact that every day dozens of startups take place in the different field of technology, learning or other fields. We read about entrepreneur stories one after another everywhere. Some are the success stories and other about failures. If one thinks that their innovation or idea is quite different then this is what everyone else thinks. There are failures of best-funded plans and success of the one in a crunch. The one who takes everything as a good competition is ready from all corner and become a successful entrepreneur.
2. Open To Change
Entrepreneur agrees that sometimes, they try to be stubborn against the market and it results in nonprofit and failure of the plan. If you read the requirement of the market and heat of the need at the specific hour during a startup, then the product launched/startup is always a hit show. So, one should understand the need of the market while his/her startup takes place. A little change in plan for the market does not cause any harm but help to boost the profit from the plan.
3. Positive Long-Term Planning
It is easy to stop initially when you are tired on a journey. But, if you know your destination is near you will not stop in between the way, no matter what. This is the motto on which entrepreneurs work on. Initially, everything seems to be difficult and things feel little off hands, but with the constant positive approach and future goals, everything seems worthy. It is simple, whenever you feel like quitting, ask yourself – Why did I start this? You will find the motivation to work harder.
4. Simple Is Always The Best
It is a human intention to look for something that is quite different, out of the world and feels larger than life. Same as that, if all entrepreneurs run after developing something that had never been done before them successfully, then there can be no innovation. I liked closely on successful entrepreneurs around me and I realized that they are all working on small things that we miss in our daily life. They are working on ideas for making simple things simpler with an innovation.
5. All Work And No Play Makes Jack A Dull Boy
It is quite easy to work day and night in order to achieve the goal that you set for your startup and get success with it. But, what if you will have no one to celebrate your success with? An entrepreneur who learns that balancing fun, happy life with the stress of startup is also important, they are always successful. Taking all the small things along with you while you are on a journey of achieving something really great makes you a successful person.
6. Every Small Coin Fills The Piggy Bank
We often look forward to the grand win that we forget to celebrate the small one at times. Starting a company is very hard, growing is harder a running it successfully is hardest. Sometimes the grand is so far away that one fell hopeless. Entrepreneurship teaches us o be grateful for every small win and with this will be energetic and charges up for the big victory. Your eye can be fixed on a customer with a hundred orders, but cracking a deal initially with ten orders is also rejoicing!
7. Failure Is Your Best Teacher
It is easy to be tired of a fell negative with the burden of your failures. What you need is to take your baggage of failure and learn from your mistakes. If an entrepreneur takes back steps after a few failures, we can never get any successful startup.
With these life lessons about entrepreneurship, it will become quite easier for you to plan for your success. To achieve big goals you must always be aware of different stages that you might have to face in the same journey. With above-stated information, it is quite obvious that you know how to deal with unwanted situations.
Shehnaz Ali Siddiqui is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing around Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.