The deck is for all those folks who are keen to start their entrepreneur journey. It is a challenging journey which has a very high rate of " Business Death Rate " . Given my experience I would recommend the 3 outlined in the deck , which will definitely help entrepreneurs avoid critical pitfalls .
Ride the Storm: Navigating Through Unstable Periods / Katerina Rudko (Belka G...
3 Strong Tips to Avoid Entrepreneur Mortality
1. 3 principles
to Avoiding
Entrepreneur
Mortality
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Gautam Munshi
Co Founder & CEO
Redwood Associates
Munshi.gautam@redwoodassociates.in
From Someone Who Has Been
There , Done That
2. Clarity of Tradeoffs: Understand and
Introspect on
•Who you are
•Why are you doing Entrepreneurship
•What will you get
•What will you loose
Initial Team
•Share the same vision
•Attitude to life & entrepreneurship
•Core vs. Non Core Function identification.
Management
•Cash Flow
•Planning
•Measurement
•Accountability
3. Clarity On Trade- offs
What You Get
What you
Loose
Security of a monthly/
increasing cash flow
Security of a
“network”
Extravagant
Consumption Choices
in the 1st 3-4 years
Freedom
Control Over your
Destiny
Possibility of Massive
Value Creation
4. Initial Team
Identify
Outsourced
Vendors
/Consultants for
Finance,
Facilities, HR ,
Marketing
Keep Only “Non
Outsourcable”
components
with yourself/co
founders.
2-3 initial
entrepreneurial
folks with
combined skills
of Sales + Team
Management +
Strategy
Avoid recruiting
Nay Sayers ,
pessimists , folks
who are not
accountable
5. Management
Must Focus on being Cash +ve from Day 0 .
(Services helps in getting this moving )
Don’t wait for VC’s/Angels to come to help you .
Survive 1st on your own steam.
What , How , Who , When plan for every activity.
This is critical and should be planned at the
beginning of each month .
Take stock weekly . Go deep to find out why
things did not move as per plan .