This discussion will go on. But that does not mean people will stop discussing it. Not everyone knows what it takes to startup own company. So I thought it was a good idea to share some of my experiences through this article about how to get up and get going with a startup.
I would suggest don’t just start a business because something hit your mind and you think that will make a lot of money. Develop a business concept that you’re passionate about related to something that you have experience with. That’s not to say don’t be passionate because toying around with the idea of starting a company may cause you damage if it doesn’t intrigue you from inside. However try having a plan to follow.
We asked a expert in this field, who were once simple-minded like you, scared to implement their idea. However, but she took the plunge with a bit of conviction and a lot of confidence.
Doesn’t believe in role model in life, passionate about work Pramad Jandhyala is a co-founder of LatinView Analytics.
Pramad takes care of Finance and Human Capital at LatentView. She has over 17 years of experience in the securities market, credit ratings and financial services, all themed around data and analytics as in working with corporate finance and credit teams in global.
Challenges are always welcome for technologies and trends to be emerged. And she is as open to challenges in her personal life. The founder of one of the largest and fastest growing data analytics firms globally, LatentView, you would be surprised to know that her earliest brush with entrepreneurship was during her engineering days at BITS Pilani when a group of them set up and managed the co-op store completely by themselves.
In her words following is the necessary check-list you should hold before starting-up your company:
Think long-term: There are no short-cuts to building a good business. Having a long-term orientation prepares you well to absorb shocks and make the right trade-offs along the way. Big vision helps you overcome with obstacles and worst circumstances. Nobody’s saying it would be easy. But keep your focus on the vision and by time you’ll learn the necessary skills to be succeed.
Talent begets Talent: For any entrepreneur, your early hires are very important as they set the tone for future talent you bring on board. If you build a great initial team, they in turn will attract your top talent for you. When things will get worse, and your company will be out of cash and scrambling to figure out its next steps, the team will come to a rescue. I’m not saying this situation will happen, but being prepared for the worst than the success is called leadership.
Build your Support Network: Entrepreneurs need to seek out for help because there will always be situations that you need assistance with. Build a support network of people who want you to succeed. They will be your biggest critics, but they will help you validate your ideas and get past the rough patches. Your nearest and dearest will be the most honest with you about your business. Don’t hesitate to seek their advice and suggestions.
Ruthless with Focus: Entrepreneurs need to prioritize what’s most important to the success of their business at every stage and be ruthless about pursuing it. For example it could be sales at one point, talent at another stage or innovation at a different stage of growth.