There are so many ways I want to interpret the must haves for an entrepreneur. It could be hardware or psychological or emotional must haves. So in this piece I will touch upon my experience as a 1st generation entrepreneur and write from my heart.
- A solid co- founder : I can’t stress this enough. Running your own venture is super tough and it gets lonely. I have been blessed to have the best of co- founders on board with me. She’s not only my creative partner, but a great logistician and thinker as well. It has never gotten lonely with her, in fact together we are a party. We don’t always have clear boundaries of who looks at what aspects of the business, and have learnt to always always always ask the other’s opinion even when we know what’s to be done.
- A dedicated working space: This made a huge difference to the way we did business and lived our lives. We started as a work from home outfit. It meant that we kept working throughout the day and night. There was no concept of home and office, because they were each other. We were constantly on the phone with each other, or with stakeholders. We did that because the actual operations could be put off till later in the night. Thankfully our families didn’t complain, but it got to us. Having a working space meant we got to work on time, we finished work at the office and then went home for much needed breathers.
- Clarity on what value you bring to the table: We are a content solutions company. We know we are great with writing out our thoughts. We are great with conversations and genuinely add value to client meetings. My partner often says “Anu, if I was a prospect, I would’ve hired us in a heartbeat!” This is our perception of our value. Now when you see it from the perspective of a client / prospect, it is a world apart. They will often try to balance the value and the pricing. You price as per the value. They buy as per the perceived value to their business. When you pitch, you should use language that makes sense to the prospect.
There are many more must haves for an entrepreneur, but it is without these basics that winning can be touch. Staying relevant in the market can also be tough. So check these off your list first.
Tip– My relationship with my co- founder has evolved over time. It is not magical from the word GO. You have to make it magical. And then reap life long rewards.