Nurture Talent Academy, India’s 1st institute for training
entrepreneurs recently completed 1 year of its operations. I just
thought to reflect what the journey has been like, and though in the
past I have talked about the positive and motivating aspects of
entrepreneurship, few things about few people has been disturbing me
in the past, and I thought to write about it. I have met over 2000
entrepreneurs in past few years, and of all kinds, age, sex etc. There
are few types of people, though, who are disgracing entrepreneurship,
and I am highlighting their traits below:
1. “I am thinking about starting up for last 3 years” types
These are the type of people who you will find in most of the
networking events and they have only 1 cap on – “THINKING” cap. Every
time you talk to them, they will tell you about a great startup (which
maybe in news for funding, product, consumers etc.) and say, “You
know, I had thought about this idea 3 years back! But the problem is …
(some explanation about why this will not work or why they didn’t do
it)”. A real potential entrepreneur would have already met potential
customers, team members and investors and taken off in some ways by
Lesson – Thinking is good, but doing is better
2. “I have got this great idea, but I cannot share with you” types
There are some types of people who take literal meaning from “Power of
Ideas” – they think that idea is only thing that is holding them from
their next IPO (initial public offering), and because they have a
great idea, customers will be lining up after them. Nowadays,
customers are smart to understand who promises and who delivers – they
pay for performance, not for ideas. Some of them are even smart enough
to copy other ideas from Techcrunch, Demo sites and claim to be their
Lesson – Ideas are everywhere, but he who brings a product for the
customer makes the money.
3. “I don’t like my job, so I want to become an entrepreneur” types
If you don’t like your job, then change your job. If you don’t like
your industry, then change the industry. But who says that being an
entrepreneur is better or worse than a job. In fact, its multiple jobs
rolled into one – you have to get customers, arrange for money, use it
efficiently and manage a team all at the same time!
Lesson – Entrepreneurs need ability and passion to start, not
4. “I want to make money” types
Yes, entrepreneurship is a lot about making money, but as Henry Ford
said, “Any business that makes only money, is a poor business”. There
will be days, especially early on in business, when you will not make
any money. There will be days, maybe sometime later in business, when
you will make so much money that you will not be able to count – you
will have to get accountants, secretaries and professional bankers to
do this for you.
Lesson – define few objectives with which you wish to start your
venture, including personal, professional and financial ones.
5. “If I had the money, I would start my business” types
I come across this category of people every day, and their most common
crib is about investors not giving them the money to start. When you
probe them further, you come to realize that they are in a comfort
zone of a monthly salary, set daily schedules, and weekend parties
etc. There are no real attempts at trying to find customers, build a
product, or even meet investors! They just read a newspaper or website
and think what gets covered in media is really for real.
Lesson – Real entrepreneurship is about making sacrifices, and doing
something to convert problems into opportunities, not complaining
about someone else.
These are the few kinds who always crib, criticize or complain – the
first thing that I do is avoid them, and find someone more helpful or
positive in life. India does not need people who bring disgrace to
entrepreneurship, but more people who can struggle, fight, and bring
things to life!
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