In our wonderful yet challenging journey in StartUp ecosystem, we have met some amazing entrepreneurs and visionary speakers. So here we are sharing some our experience through short talk on Motivators and Barriers to Entrepreneurship by Vivek Kumar, CEO, Venture Garage.
This module explores the essentials of starting your own business. It looks at in detail the benefits and drawbacks of starting your own business, inspiring entrepreneurs that previously failed, facing your fears and examining in detail ‘digital natives’.
Module 1 - Igniting your STEM entrepreneurial sparkcaniceconsulting
This module is all about inspiration and igniting your STEM
Entrepreneurship spark!
Setting the scene, this module introduces some the latest STEM entrepreneurship trends and opportunities.
We set the scene for entrepreneurship and you and
look at inspiring women leading the way in STEM entrepreneurship. Find out how you can overcome
your fears and how knowledge and advice is key to avoiding failure.
What does it take to be a Product Manager? The skills needed to be a successful Product Manager.
- Passion to build products!
- Product Design skills:
Understanding what the user needs
Building Roadmaps
Defining requirements
- Product Building skills:
Making sense of lots of data
Prioritizing
Saying No
- Business skills:
Building a business case
Managing Stake holders
Communicating
- Be the glue!
About Amisha Thakkar
Product Manager at UpToDate.
Before that I was a Product Lead at PatientKeeper.
I’ve done pretty much everything in the software business - written code, been a scrum master, brought back “down” systems to life, talked to customers.
I have been building things since I was a kid Legos, circuits, software!
This module explores the essentials of starting your own business. It looks at in detail the benefits and drawbacks of starting your own business, inspiring entrepreneurs that previously failed, facing your fears and examining in detail ‘digital natives’.
Module 1 - Igniting your STEM entrepreneurial sparkcaniceconsulting
This module is all about inspiration and igniting your STEM
Entrepreneurship spark!
Setting the scene, this module introduces some the latest STEM entrepreneurship trends and opportunities.
We set the scene for entrepreneurship and you and
look at inspiring women leading the way in STEM entrepreneurship. Find out how you can overcome
your fears and how knowledge and advice is key to avoiding failure.
What does it take to be a Product Manager? The skills needed to be a successful Product Manager.
- Passion to build products!
- Product Design skills:
Understanding what the user needs
Building Roadmaps
Defining requirements
- Product Building skills:
Making sense of lots of data
Prioritizing
Saying No
- Business skills:
Building a business case
Managing Stake holders
Communicating
- Be the glue!
About Amisha Thakkar
Product Manager at UpToDate.
Before that I was a Product Lead at PatientKeeper.
I’ve done pretty much everything in the software business - written code, been a scrum master, brought back “down” systems to life, talked to customers.
I have been building things since I was a kid Legos, circuits, software!
Breaking 10 myths about entrepreneurshipPrateek Shah
A lot of great things are said about Entrepreneurship, but is it all as fancy as it looks and sounds? Here's a small attempt to break some myths about the same :)
My coming talk on Sept 3, 2011. in Singapore.
Its free to attend, but register now!
http://blog.unleashyourbranding.com/
Free Talk organized by Entrepreneurship Club
11 a.m. at Ya Kun ( Orchard Central ), 3/9/11
Participants will be receive a free associate membership from the club which is worth $80/- for 1 year !
Lean Startup Roadmap workshop I conduct in Russian. Combines the methodology from Steve Blank, Eric Ries, Ash Maurya, and others. The intention is to provide practical steps individuals new to business and entrepreneurship can take in order to increase the likelihood of success in their new venture.
The full workshop usually takes 6-8 hours.
In this module, you find out if you have what it takes to be a STEM entrepreneur and if having your own business is the right professional choice for you.
We introduce you to an online series of 7 assessments so you can define your goals and what steps you need to take to acquire them.
It doesn’t’ stop there, you will reflect on if you have the right personality traits and qualities considered compatible with a successful entrepreneur. You will discover what motivates you, what makes you tick and how resilient you are.
You will learn formal approaches to validating and incubation STEM entrepreneurship ideas.
To Promote Entrepreneurial Mindset: A Training Pavitra Joshi
Entrepreneurship is not just a profession, but also an aspect in the form of an entrepreneurial mindset. This training design caters to promoting entrepreneurial mindset by providing an outline of the framework for a training program.
This module examines the idea development process of starting up your own business. It also explores the concept of finding the right business idea for you, the mysterious art of idea generation and idea generation techniques.
This Leadership Mashup features sage advice straight from the experiences of an innovative and successful entrepreneur, G.L. Hoffman, CEO at JobDig. Hope you enjoy!
Ideation for Profit - 5 Easy Steps to Bring Viable Ideas to Market!Anastasia Valentine
A unique approach to streamlining small business & startup investment in valuable & viable products & services.
Anastasia Valentine & Ideation Expert will present the Ideation to Profit Relationship, a mini workshop designed for small business owners, startups and entrepreneurs.
Be prepared to take notes and learn how to create a:
sustainable business practice to profit from your business ideas.
solid strategy to validate your business investment in new products & services.
clear method to make GO or NO GO decisions
plan to build & grow your business through ideation!
20 Mistakes that Kill Startups (According to Experts)Vitaliy Verbenko
No matter what anyone says, there is no secret recipe for success. Over half of startups out there can’t make it past their fifth year on the market. Why is that? Simply put, they make a number of mistakes which we’ll try to dissect in this post.
Instead of asking "Are you ready to fundraise", perhaps the better question is.. "Are you ready to grow?"
Learn about the basics of fundraising and whether you are ready.
Use the free tools and frameworks
Lean Canvas Plus (aka Fat Canvas) https://bit.ly/jdlfatcanvas
Fingerprint4Success Human Analytics: https://bit.ly/censusf4s
How to Set Goals? E-Book by Armaan TNM PodcastCrowd Dora
In this special session, participants are taken through exactly how to set highly effective goals and plan their time to execute on them. After dozens of interviews with people who are doing incredible things such as Nir Eyal (Author of Hooked), Rand Fishkin (Founder of Moz), Captain Raghu Raman (Distinguished Army Vet & Influencer) and many more, Armaan has put together exhaustive an summary of how successful people manage and prioritize their time. If one's looking to streamline their productivity, they do not want to miss these learnings.
Preparing as Entrepreneur and for Entrepreneurship. What does it take to prepare before starting a Business. This presentation can be a preparation starter kit for people looking to start their own venture.
Breaking 10 myths about entrepreneurshipPrateek Shah
A lot of great things are said about Entrepreneurship, but is it all as fancy as it looks and sounds? Here's a small attempt to break some myths about the same :)
My coming talk on Sept 3, 2011. in Singapore.
Its free to attend, but register now!
http://blog.unleashyourbranding.com/
Free Talk organized by Entrepreneurship Club
11 a.m. at Ya Kun ( Orchard Central ), 3/9/11
Participants will be receive a free associate membership from the club which is worth $80/- for 1 year !
Lean Startup Roadmap workshop I conduct in Russian. Combines the methodology from Steve Blank, Eric Ries, Ash Maurya, and others. The intention is to provide practical steps individuals new to business and entrepreneurship can take in order to increase the likelihood of success in their new venture.
The full workshop usually takes 6-8 hours.
In this module, you find out if you have what it takes to be a STEM entrepreneur and if having your own business is the right professional choice for you.
We introduce you to an online series of 7 assessments so you can define your goals and what steps you need to take to acquire them.
It doesn’t’ stop there, you will reflect on if you have the right personality traits and qualities considered compatible with a successful entrepreneur. You will discover what motivates you, what makes you tick and how resilient you are.
You will learn formal approaches to validating and incubation STEM entrepreneurship ideas.
To Promote Entrepreneurial Mindset: A Training Pavitra Joshi
Entrepreneurship is not just a profession, but also an aspect in the form of an entrepreneurial mindset. This training design caters to promoting entrepreneurial mindset by providing an outline of the framework for a training program.
This module examines the idea development process of starting up your own business. It also explores the concept of finding the right business idea for you, the mysterious art of idea generation and idea generation techniques.
This Leadership Mashup features sage advice straight from the experiences of an innovative and successful entrepreneur, G.L. Hoffman, CEO at JobDig. Hope you enjoy!
Ideation for Profit - 5 Easy Steps to Bring Viable Ideas to Market!Anastasia Valentine
A unique approach to streamlining small business & startup investment in valuable & viable products & services.
Anastasia Valentine & Ideation Expert will present the Ideation to Profit Relationship, a mini workshop designed for small business owners, startups and entrepreneurs.
Be prepared to take notes and learn how to create a:
sustainable business practice to profit from your business ideas.
solid strategy to validate your business investment in new products & services.
clear method to make GO or NO GO decisions
plan to build & grow your business through ideation!
20 Mistakes that Kill Startups (According to Experts)Vitaliy Verbenko
No matter what anyone says, there is no secret recipe for success. Over half of startups out there can’t make it past their fifth year on the market. Why is that? Simply put, they make a number of mistakes which we’ll try to dissect in this post.
Instead of asking "Are you ready to fundraise", perhaps the better question is.. "Are you ready to grow?"
Learn about the basics of fundraising and whether you are ready.
Use the free tools and frameworks
Lean Canvas Plus (aka Fat Canvas) https://bit.ly/jdlfatcanvas
Fingerprint4Success Human Analytics: https://bit.ly/censusf4s
How to Set Goals? E-Book by Armaan TNM PodcastCrowd Dora
In this special session, participants are taken through exactly how to set highly effective goals and plan their time to execute on them. After dozens of interviews with people who are doing incredible things such as Nir Eyal (Author of Hooked), Rand Fishkin (Founder of Moz), Captain Raghu Raman (Distinguished Army Vet & Influencer) and many more, Armaan has put together exhaustive an summary of how successful people manage and prioritize their time. If one's looking to streamline their productivity, they do not want to miss these learnings.
Preparing as Entrepreneur and for Entrepreneurship. What does it take to prepare before starting a Business. This presentation can be a preparation starter kit for people looking to start their own venture.
1. Characteristics or Features or Importance of Successful Entrepreneurs. Or explain the personal Features of Entrepreneurial leadership.
2. What is entrepreneurial decision process?
3. Entrepreneurship and the Entrepreneurial Process. Explain.
4. Explain Break even analysis and its calculator.
5. Write down the steps in preparing Marketing Plan.
6. What is the Importance of International Entrepreneurship?
7. Entrepreneurial Entry into International Business.
8. Features of Joint Venture and Franchising.
9. Features and types of Synergy in Mergers & Acquisition.
10. What are the Methods of Generating Ideasalso explain Innovation, Creativity and Entrepreneurship.
Stratup creation processus. What is a startup. Startup vs traditional company. Purpose. Idea generation. Market Research. Build a team. Business Plan canvas. Prototype. Algerian Legal Structure & Registration. Funding. Challenges. Obstacles...
This module, Creative Me, explores the concepts of what is an actual enterprise, entrepreneurial skills and behaviours, the importance of problem- solving skills and the concept of resilience.
This module explores the concept of what an actual enterprise is, it discusses entrepreneurial skills and behaviours and essential skills needed in order to set up a creative enterprise.
20 Deadly Mistakes That Kill Startups (According to Experts)Vitaliy Verbenko
No matter what anyone says, there is no secret recipe for success. Over half of startups out there can’t make it past their fifth year on the market. Why is that? Simply put, they make a number of mistakes which we’ll try to dissect in this post.
Why do we start startups? A good question for the inaugural class of the NYC Media Lab. Covering Motivation, Lean, Business Model Canvas, the Rich/King Dilemma, and Scale Outcomes
Why do we start startups? A good question for the inaugural class of the NYC Media Lab: The Combine. Covering Motivation, Lean, Business Model Canvas, the Rich/King Dilemma, and Scale Outcomes
Brand Box 4 - What's The Big Idea? The Marketer's Ultimate ToolkitAshton Bishop
http://www.stepchangemarketing.com/
In this Slideshare presentation:
1. Brand Box 4 - What's the big idea? 2. Actions from insights 3. Why Innovation? 4. Innovation context 5. Bill Gates 6. Corporate and Social Responsibility 7. Successful Innovation 8. Purpose of creativity 9. Importance of Innovation 10. Importance of Innovation cont. 11. Innovation driving growth 12. Applied Innovation 13. Limitations of accepting status quo 14. Knowledge vs. Creativity 15. Innovation as a habit 16. 5 roles in ideas development 17. The triangle for successful innovation 18. Sources of inspiration 19. Crowd sourcing 20. Where's your suggestion box? 21. What is crowd sourcing? 22. Consumer generated content 23, Share with the masses 24, Generation C(ash) 25 User generated content radar 26. Case study: Smith's "Do us a flavour" 27. Case study: Goldcorp 28. Case study: Mitsubishi 29. Case study: InnoCentive 30. Case study: Wikipedia 31. Case study: the London bombing 32. Innovation tools 33. Scamper 34. Scamper: An example 35. Scamper: Adapt something to it 36. Scamper: Magnify it 37. Scamper: Modify it 38. Scamper: Put it to some other use 39. Scamper: Eliminate something 40. Scamper: Reverse it 41. Scamper Rearrange it 42. Parameter analysis 43. Sensory overload 44. Future casting ideas generation 45. Process review 46. Using experience to drive innovation 47. Innovation platforms 48. The Phoenix checklist 49. The Phoenix checklist cont. 50. Six thinking hats by Edward de Bono 51. Six thinking hats cont. 52. Evaluation methods 53. Potential impact plotting 54. "Yes" reasons
The role of Chartered Accountant in capacity as Virtual Entrepreneur Mentor t...CA. (Dr.) Rajkumar Adukia
A chartered accountant in the capacity of a virtual Entrepreneur Mentor can act as a trusted confidante over an extended period of time with an objective to provide advice, counseling from a fresh perspective, collaborate and help you as an entrepreneur stay focused on their long-term goal of making their venture a success.
Marty Kaszubowski, Old Dominion University. Oops!... Another Startup Did It A...IT Arena
Martin Kaszubowski currently serves as the Executive Director of the Institution for Innovation and Entrepreneurship at Old Dominion University. Marty has over 35 years of experience with a broad spectrum of public- and private-sector organizations promoting new venture formation, early-stage investment, technology commercialization, and innovation-led economic development. Marty has traveled with the CRDF Global STEP team since 2010, having made 12 separate trips to the former Soviet States: Ukraine, Armenia, Azerbaijan, and Georgia. In addition, he has spent significant time with CRDF mentoring entrepreneurs remotely, reviewing program applications, judging entrepreneurship competitions, and working with incubators, accelerators, and others interested in promoting innovation-based entrepreneurship in the region. Marty holds a Bachelor’s Degree in Aerospace Engineering from the University of Michigan, and a Master’s Degree in Technology Management from George Washington University.
Similar to Motivators and Barriers to Entrepreneurship by Vivek Kumar (20)
Best Crypto Marketing Ideas to Lead Your Project to SuccessIntelisync
In this comprehensive slideshow presentation, we delve into the intricacies of crypto marketing, offering invaluable insights and strategies to propel your project to success in the dynamic cryptocurrency landscape. From understanding market trends to building a robust brand identity, engaging with influencers, and analyzing performance metrics, we cover all aspects essential for effective marketing in the crypto space.
Also Intelisync, our cutting-edge service designed to streamline and optimize your marketing efforts, leveraging data-driven insights and innovative strategies to drive growth and visibility for your project.
With a data-driven approach, transparent communication, and a commitment to excellence, InteliSync is your trusted partner for driving meaningful impact in the fast-paced world of Web3. Contact us today to learn more and embark on a journey to crypto marketing mastery!
Ready to elevate your Web3 project to new heights? Contact InteliSync now and unleash the full potential of your crypto venture!
Explore Sarasota Collection's exquisite and long-lasting dining table sets and chairs in Sarasota. Elevate your dining experience with our high-quality collection!
When listening about building new Ventures, Marketplaces ideas are something very frequent. On this session we will discuss reasons why you should stay away from it :P , by sharing real stories and misconceptions around them. If you still insist to go for it however, you will at least get an idea of the important and critical strategies to optimize for success like Product, Business Development & Marketing, Operations :)
Reflect Festival Limassol May 2024.
Michael Economou is an Entrepreneur, with Business & Technology foundations and a passion for Innovation. He is working with his team to launch a new venture – Exyde, an AI powered booking platform for Activities & Experiences, aspiring to revolutionize the way we travel and experience the world. Michael has extensive entrepreneurial experience as the co-founder of Ideas2life, AtYourService as well as Foody, an online delivery platform and one of the most prominent ventures in Cyprus’ digital landscape, acquired by Delivery Hero group in 2019. This journey & experience marks a vast expertise in building and scaling marketplaces, enhancing everyday life through technology and making meaningful impact on local communities, which is what Michael and his team are pursuing doing once more with Exyde www.goExyde.com
Textile Chemical Brochure - Tradeasia (1).pdfjeffmilton96
Explore Tradeasia’s brochure for eco-friendly textile chemicals. Enhance your textile production with high-quality, sustainable solutions for superior fabric quality.
Salma Karina Hayat is Conscious Digital Transformation Leader at Kudos | Empowering SMEs via CRM & Digital Automation | Award-Winning Entrepreneur & Philanthropist | Education & Homelessness Advocate
What You're Going to Learn
- How These 4 Leaks Force You To Work Longer And Harder in order to grow your income… improve just one of these and the impact could be life changing.
- How to SHUT DOWN the revolving door of Income Stagnation… you know, where new sales come into your magazine while at the same time existing sponsors exit.
- How to transform your magazine business by fixing the 4 “DON’Ts”...
#1 LEADS Don’t Book
#2 PROSPECTS Don’t Show
#3 PROSPECTS Don’t Buy
#4 CLIENTS Don’t Stay
- How to identify which leak to fix first so you get the biggest bang for your income.
- Get actionable strategies you can use right away to improve your bookings, sales and retention.
How to Build a Diversified Investment Portfolio.pdfTrims Creators
Building a diversified investment portfolio is a fundamental strategy to manage risk and optimize returns. For both novice and experienced investors, diversification offers a pathway to a more stable and resilient financial future. Here’s an in-depth guide on how to create and maintain a well-diversified investment portfolio.
3. Vivek@venturegarage.in
Theories of Entrepreneurship
Economic Theories: Limited supply and is driven by need to change. Takes RISKS as he/she acts in
anticipation of the future. New product, New market, New production, Filling gap... Entrepreneur transforms
resources into value added goods and services
Psychological Theory: Emotional elements driving entrepreneurship. Need for achievement, affiliation,
power... “Creating something out of nothing”... “get rich” vs. “get big”. Behaviour of grabbing opportunities.
Sociological / Cultural Theories: Personal resourcefulness. Initiative vs. Reaction. Social networks,
desire for a meaningful life, ethnic identification, role expectations by society
4. Vivek@venturegarage.in
Types of Entrepreneurs
Type of business: Business, Social, Trading, Industrial, Corporate, Agricultural
Use of technology: Tech vs. Non-tech
By Motivation: Induced vs. Motivated vs. Spontaneous
By growth: Growth vs. Super-growth (hockey stick curve)
Stage of Development: Modern vs. Classical. First generation.
Gender, Scale, Rural
Some other interesting Classifications:
Behavioural : Solo , Co-founders/partners, Inventors, Challengers, Buyers and life-timers
5. Vivek@venturegarage.in
Types of Entrepreneurs
Three types Arthur Cole:
Empirical: Not revolutionary. Largely follows
Rational: Well informed about the general economic conditions, introduces somewhat revolutionary
changes
Cognitive: Well informed, draws from experts. Introduces changes that reflect complete break from the
existing
6. Vivek@venturegarage.in
Based on Clarence Danhof Classification:
4 types
Innovating: New goods, new markets.... Found in more developed economies
Imitative: Follow innovations. Found more in under-developed economies
Fabian : Exercise great caution in experimenting and are late imitators
Drone: Almost a refusal to adopt change or innovation
7. Vivek@venturegarage.in
Intrapreneurs
Entrepreneurs within an organisation: Entrepreneurial skills without the risks associated with it
Employee of a large corporation who is given freedom and financial support to create new products, services,
systems, etc., and does not have to follow the corporation's usual routines or protocols.
• Money is not the measurement
• Green-housers
• Not afraid to experiment, Pivot
8. Vivek@venturegarage.in
Ultrapreneurs
Someone who has many profit-generating pursuits at once.
Book: Entrepreneur to Ultrapreneur 100 Ways to up Your Game
• A holistic approach encompassing all aspects of one’s life including entrepreneurship, health and well being,
family, spirituality, morality and mentality... Complete balance
• Someone who has exceeded in their undertaking as an entrepreneur but also has a profound effect on their
family, community, country or humanity.
Mentor Nigel Clayton: An Ultrapreneur thus
• Loves going to their business every day
• Is authentic
• Engages in passionate creation
• Earns the money they need to live the lifestyle they want
• Has ample time to spend with the people they love
9. Vivek@venturegarage.in
Functions of Entrepreneurs
Delia Smith of Greenfield Ventures says, “If innovation is the creation of new capacities for wealth creation,
entrepreneurship is the exploitation of these capacities.”
• Risk taking
• Innovation
• Organises
• Takes to market
... Leading to often financial, sometimes social success
A person who organizes and operates a business or businesses, taking on financial risk to do so.
12. Vivek@venturegarage.in
Entrepreneur Competencies
I think a start-up entrepreneur needs to be like James Bond...
at the core, a start-up and the venture rises or falls depending on
the “hustling capabilities” of the entrepreneur
13. Vivek@venturegarage.in
Entrepreneur Competencies
Dysfunctionally focused at the task on hand: To JB the MISSION IS IT, and he is willing to take on everything
and everyone in his path.
Enjoys the journey: Even though JB is extremely focussed on the mission he enjoys the journey and has fun,
remember the good looking women, the yachts, the happening locales.
Happy to receive: JB is happy to receive everything in his path some good, some bad AND SOME UGLY.
"Everybody has a plan, until they get punched in the face.“
Ability to articulate and communicate a vision: Has this amazing ability to communicate a vision for the
mission and thus is able to create sometimes unwilling, but always highly committed co-passengers on the
journey.
Moving from concept to product: Of course all of this requires lots of implementing, execution and hard work.
“To persevere you need motivation - and it can only come from your passion for your business.”
18. Vivek@venturegarage.in
Motivators
• Sense of Accomplishment “Making it big”. Recognition
• Self Control over decision-making, No Boss, Independence. Self reliance. Freedom
to do.
• Energy of Passion
• Self growth, self experimentation
• Money
1. Ambitious factors.
2. Compelling factors
3. Facilitating factors.
21. Vivek@venturegarage.in
“Inversion”, and thinking in extremes
• Marie Kondo, author’s famous line “We should be choosing what we want to keep, not what
we want to get rid of”
• Inversion: What if the opposite was true? What if you focused on a different side of the
situation?
• often Instead of asking how to do something, asking how to not do it could provide easier
and quicker solutions. As author Josh Kaufman says “By studying the opposite of what you
want, you can identify important elements that aren't immediately obvious.”
• Paralled with “inversion”, thinking in extremes helps tremendously. Have you ever tried to
imagine total, devastating failure. Asking yourself the question “what if everything I have built
comes crashing down” could tell you a lot of what to prepare for today.
• A strategy sometimes referred to as “kill the company”, talks about imagining that you fast
forward a year and see your business failing. The questions to ask are “what went wrong”,
“what mistakes did we make”.
22. Vivek@venturegarage.in
“Inversion”, and thinking in extremes
Earlier: How do I succeed?
Now: How do I avoid failure?
Earlier: How to make the relationship with my co-founder rocking?
Now: How do I not to offend my co-founder?
How do I convince the investor?
How do I make the investor say no to me?
How do I stay focussed?
How do I end up distracted?
How do I get new/more customers?
What would put-off our customers?
Choosing what we want to get rid off?
Choosing what we want to keep?
How do I make more money?
How do I destroy my financial health?
24. Vivek@venturegarage.in
1. It all starts with a value proposition
It all starts with a value proposition. In fact most times I see the value proposition itself not clear
and this is really akin to building your house upon sand, one is likely to always be on shaky
ground.
The Value proposition can be around two major areas, how does the proposition help avoid pain
or increase pleasure.
In my experience avoiding pain is a bigger motivator than seeking pleasure.
25. Vivek@venturegarage.in
2. Identifying your Target customers
The next step is to identify which segment of customers will this value proposition appeal to and
what is the likely size of that target.
It is important to ensure a large enough size to make the business viable.
Early vs. Late customers
26. Vivek@venturegarage.in
3. Identify channels or collaborators
Once you have intertwined the value proposition and the target customers the final step is to
identify channels or collaborators who can put our product in the hands of the customers.
Choose channels basis cost of acquisition, how much revenue is generated per acquisition, and
scalability of the channel.
27. Vivek@venturegarage.in
Evaluation Checklist. Decision Making
1. Problem-Solution Match
2. Market Size & Growth
3. Business Stage
4. Gross Margins
5. Cost of Customer Acquisition
6. Potential revenue from each customer
7. Sustainable Competitive Advantages
8. Intellectual Property
9. Founder Team / CEO
10. Milestone Achievability
11. ROI Potential
29. Vivek@venturegarage.in
1. Staying focused on the purpose: It is hypercritical that amongst all the distractions a start-up will face, the spirit of the
purpose needs to be aggressively guarded by the founder. Every time a founder feels rejection, hopelessness, or questions himself... or any
such emotions come forth, going back to why one started is a great way to get back into the groove.
2. Team members and loyalists deserting midway: Often people you started off with, who swore to live and die
with you along the way will come and say that they feel that “God has spoken to them and they feel this is not for them”. However, though
there is a lot of talk about teams, I feel that entrepreneurship begins with the dream of one person, and rises and falls on the attitude of
that person. Rabindranath Tagore is hugely relevant here when he famously crooned “If no one answers to your call, then move forward
alone.”
3. If you mean serious business expect the competition to come at you hammer and
tongs:. Though slightly long, this quote reiterates what the entrepreneur may need to tell himself/herself multiple times a day, the
problem is with them not with him/her. “They will hate you if you are beautiful. They will hate you if you are successful. They will hate you
if you are right. They will hate you if you are popular. They will hate you when you get attention. They will hate you when people in their life
like you. They will hate you if you worship a different version of their God. They will hate you if you are spiritual. They will hate you if you
have courage. They will hate you if you have an opinion. They will hate you when people support you. They will hate you when they see you
happy. … They just hate.
However, remember this: They hate you because you represent something they feel they don’t have. It really isn’t about you. It is about
the hatred they have for themselves. So smile today because there is something you are doing right that has a lot of people thinking
about you.”
4. There are no cheap shortcuts to change: If disruption is the motive there are no short-cuts as the vast majority
wants to maintain status-quo.
“Better to do something imperfectly than to do nothing perfectly.” and somewhere along the way we will get close to perfection.
Sometimes as an entrepreneur, we have to swallow so much pride that it is surprising we don’t become obese. This is the toughest one, as
a founder is always in a tearing hurry, because he can see what can be, but often destiny has other plans. This is a personal battle every
entrepreneur needs to win because change will happen, but how much time it will take... well GOD knows!!
Let them make fun, criticize, ridicule, but remember they can never be you.
My learning's