Every business is a seed planted, which when nurtured with a lot of patience, discipline, perseverance, and focus helps it grow into a strong tree. On this long journey, people commit many blunders, fail at many places, and face many unexpected, unimagined hurdles with some soft-sharp turns. Despite these challenges, persistence, and trust in one’s ability results in a successful entrepreneur with a lot many stories and learnings which are worth sharing.
Our story is no different!
We went through many complications, nightmares, showstopper issues, etc. yet, we got our way out each time stronger and wiser than the previous one and stayed focused on our core building blocks which are listed down.
These are our 5 major learnings -
Nothing is Permanent
As a business, it’s important to understand that nothing is permanent when it comes to Human Resources, Clients, Processes, Products, Technology. Businesses often face a challenge to accept the changes which are unexpected. Mostly, these changes happen abruptly and leave you in a very bad position and recovery becomes difficult. Fortunately, we learned this very early and always kept a close eye on all the factors and backed up with solid mitigation strategies to avoid any sudden surprises.
Believe and Perseverance
Belief in your team and its capabilities play an important role is another learning of ours. The people, processes, and strategies take a while to get settled and become an integral part of the organization’s DNA. They don’t always start showing results immediately, and you may need to show a tad bit more determination which is backed by a strong faith that things will gradually start showing steady results. One is bound to feel anxious, irritable, and even furious when things don’t fall in place as anticipated. However, these are the times where our persistence plays an important role to keep moving forward and staying confident.
Invest in Relationship
We learned that what matters most is a strong and healthy relationship. One should never focus on making short term profit gains. Always be transparent and honest about your abilities and commit to what is possible. Sometimes, people fall for short term gains by putting their business at stake. We as a team had this very clear and has been a core value - never put our trust with people at stake for short term gains. This has helped us to have a long-term, friendly, and warm relationship with all - our clients, partners, and even our employees.
Business is built on Rock
It is always better to take small steps rather than taking risks which may end up becoming the reason for the sinking of the ship. It’s always preferred to measure the opportunities v/s the risk related to them and map them to the goals and financial risk capacity. This, however, doesn’t mean that businesses should never enter into the uncomfortable zone, but should always keep challenging their progress, keep on diversifying and looking into new arenas. All this should be done while making sure they don’t lose what they do the best. So that even if they fail in the new arena they can always choose to fall back on the safety net of their existing strong ground.
Never ride on a single horse
Often, when a small business starts, they get one or two such customers which become their major earning horse. Similar was the case with us, we too, were dependent upon one of our partners for the whole business. Fortunately, we always knew that it’s very risky to be working in such a fashion, as it would also wipe us out of our business if things turn sour. So we kept on generating multiple parallel opportunities and then the time came when that partner had no work for us, but by that time we already had enough other opportunities which made it possible for us to move forward.
Surely, we have learned a lot more than this during our 10 years' journey but since it’s not possible for us to share all of it in a single post, we kept the 5 most essential ingredients which worked best for us.
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