It requires myriad skill to succeed as a startup and be coined as a wizard entrepreneur, unless until you have that special affection towards self proclamation. One common question I always face is “What do I need to do to be successful as an entrepreneur or with my startup?” The multiple choices comes in a form of raising an investment to developing a business plan to designing a marketing campaign to any other jargon that could be easily found floating on www these days. I have always spoken about using a pinch of common sense in whatever you cook. In this post, I would add another trait to the common sense. Like latitude, attitude, aptitude or any other dude you need to have “Starvitude” to succeed as an entrepreneur or with your startup.
As a startup it should be your utmost effort to optimally utilize the available scarce resource. If you’re not ready to starve, then you’re not ready for the entrepreneurial journey. The moment you start starving you start realizing the value of things around your business, prioritizing the Titanic tasks in hand, connecting with right set of people, building right team, and understanding your core team’s capability. I always advise people to build a right team and select right partners, wherein everyone is willing to share the risk-reward.
“When you starve with a Tiger, the Tiger starves last”. Make sure you’re starving with right set of people and for the right stuff. To some- Startup is just a word; To others- a Sentence. Make sure you have that Starvitude to avoid life sentence. Investment or getting funded shouldn’t be your focus from day one, or even before the day one, as long as you’re not one from the clan who says that they were so poor while growing up that they couldn’t afford to pay attention to basic fundamentals as well. No business is incompetent enough to achieve a bare minimum organic growth during its infancy. It’s scalability that requires fund, not the ability to launch that beta version or alpha virgin.
It’s always better to drive an inexpensive car into a tree than find out how the Mercedes bends. That doesn’t mean you need to drive into a tree. There’s always an alternate path.
And yes, before I end this piece of writing, it doesn’t harm to have a mentor or adviser or a consultant, who shares your vision, beside you. It’s pretty much like having a parachute tied to your back when you skydive. You need one only when you intend to skydive twice.