Last 18 months…Undoubtedly the best time ever. Over the last few days, I have been pondering over what have I learnt from my journey till date. Few hard lessons, which some may say expensive, but hardly matters. I must say during this time I came out from thoughts of Fear of job security, Fear to be left behind peers and Fear of failure.
1. Understand importance of Co-founders, so get someone who can make positive contribution with their expertise. Never involve any part time co-founders. They will never understand what it takes to build a startup.
2. Define strategy and fit people not vice versa. Those who don’t fit ask them to leave immediately.
3. Startup growth happens when everyone comes out of their comfort zone.
4. Try and learn doing things on your own instead of depending on different consultants.
5. Startup takes time to grow so be patient but always follow timelines.
6. Learn to hear NO and say even bigger NO.
7. Money alone doesn’t build business. It’s just one pillar to sustain.
8. Revenue is everything so try creating model which can make revenue. This helps in sustaining and boosts confidence to stay in business for longer.
9. This journey is lonely and sometime very lonely. You will find so many well-wishers while starting-up and then only during wind-ups.
10. Never regret on your decision but do make corrections. Time you start regretting you can never start again.