is starting-up right for me?

Today with the hype, glamour, and sex-appeal surrounding start-ups there is a real danger that all and sundry would take the plunge

without being fully aware of the rigours and tensions of start-up life.

Here are some pointers to help you decide if a start-up is for you. Or if you are better off

wherever you currently are.

☀

PASSION

PASSION is the key requirement.

You must feel the burning need to be a

successful entrepreneur deep in your bones and believe in YOURSELF, the

TEAM and the OPPORTUNITY.

You must be willing to be consumed by the business

especially in the formative years.

Passion will help cope with the excitement and glamour of a

startup as distinct from the reality.

Don’t do a start-up for the glamour or

sex-appeal.

Resource

Constraints

Are you willing to give up a cushy corporate

lifestyle and the accompanying trappings and

luxuries?

Are you willing to manage with few

resources, handle the immense pressures

on your time and yet “give it all you have”

performances?

Are you willing to have your quality of

life negatively affected? Are you

physically and mentally healthy?

Can you handle 12 to 14 hour days, 6 to 7

days a week for about a year?

Self

Confidence

Do you have the self-confidence to

realistically believe in your capabilities and

harness the opportunity in the

market?

Can you communicate this self-confidence to your team mates?

Do you have the self-confidence to convince hard-nosed investors

that they’re looking at the opportunity of a

lifetime?

CONFIDENCESELF

will help you cope with rejection

Humility

Are you humble enough to learn from others?

EVEN IF THEY ARE

MUCH YOUNGER?

Are you willing to listen to others?

Are you willing to suspend your ego and

contribute to the BUILDING OF THE COMPANY?

I’m the CEOOr do you think, “Taking out the

garbage is not my job.”

Team Player

Are you individualistic or are you a team

player? Do you share or

hoard information?

Do you help others on your team with

their jobs? Is there trust

between team members?

Is there a single minded focus and

belief on the objectives and goals in the team or are you there for your personal agenda?

Can you delegate with confidence?

Knowledge

Do you have the required functional

and business knowledge and

expertise?

Are you capable of continuous learning? Are you aware of the market, business and technology dynamics

and trends?

Can you command the respect of the

board, investors, and others with your knowledge and

awareness?

Time Sensitivity

Are you sensitive to the most valuable resource, namely

time?

Can you make quick decisions with less than perfect and

inadequate information?

Are you willing to change all 4 wheels

of a moving car?

Communication

Are you an effective verbal and oral communicator?

Can you communicate with

your team?

Can you motivate and charge them?

Can you communicate with

the board and investors

effectively?

Remember there are many ways to reach financial independence. However, only the last one is truly satisfying and in your control:

You can marry it | You can inherit it | You can steal it

You can be one of the lucky few and earn it in your corporate life

YOU CAN EARN IT IN YOUR

START-UP

Is a Start-up for

Everyone?

This presentation is based on an article originally written by Sanjay

Anandaram

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