Fresherpreneur: a term
that defines millenials, or Gen Yers who maybe college dropouts, graduates or
MBA’s who plan to start up their own venture as early as in their 20’s . They
may or may not have taken short duration employment jobs. Their passion factor
ranks higher than their experience, and that’s what makes them a
fresherpreneur.
In the above context we
understand that fresherpreneurs are multitasker, tech-savvy, achievement
oriented and risk-averse, but to survive in this hyper paced world, it becomes
crucial and pragmatic to adopt and follow the rules of survival:
1. Patience:
Success is not achieved overnight, deals do not mature in a day, and you alone
cannot run business into profits. The graph of growth is slow, honestly speaking;
it just crawls for the first few months. In this world of instant knowledge, feedback,
and connection we are strained into believing that everything is
"instant." BE PATIENT. I
remember committing blunders when I used to make 5 calls a week to my
prospective clients asking what they thought of the proposal and if we could
arrange a meeting. Things take time and one needs to learn to move with that
rhythm. Crux: imbibe the good ol’ saying
with a pinch of salt: “Good things come to those who work their asses off and
wait for results”.
2. Integrity:
Warren Buffet, Chairman of Berkshire Hathaway has
put it aptly as: “In looking for people to hire, look for three qualities:
integrity, intelligence, and energy. And if they don’t have the first
one, the other two will kill you.” Integrity
is the degree of how an individual is in deed, how a person embrace and
exemplify their beliefs, and carry forward a vision and mission. An entrepreneur must be honest in financing the company
and managing the assets of the firm, and selling his products/services. Success
will come and go; but integrity once if sets its roots; its forever.
Crux: You will not be known by your abilities, but by the
choices you make, so keep in mind that there is either right or wrong...nothing
in between!
3. Market study and analysis: Conducting a market research makes all the difference between
building a solid foundation, and failing due to lack of vital information. Entrepreneurs often don’t take this
stage earnestly and are under the wrong impression that their start-up is
comparatively small to begin with; taking action and entering market is far
imperative than doing market research. Obtaining
unbiased information from market study and analysis, assures that your product
or service is appropriately priced and positioned and you are meeting consumer
demands. Market analysis will make your company a powerful force in a
competitive business landscape and an attractive proposition to investors.
Crux: Market analysis will only
strengthen your position and save you from being a victim to “ugly baby
syndrome”, where on stepping in the playfield you realize that
your super cool idea - the baby - ain’t
so cute after all!
4.
Networking:
Referral
networking is still questioned, and people still doubt the significance of this
art. Networking is the cheapest yet the most effective way of
connecting with like-minded individuals, though no one does socializing better than Gen Y-ers but they need to
set focus. It works on the old-gold fashioned notion which says: You will only be as successful as you help
others to be successful. Go to events, meet people, socialize, introduce them to
prospective customers and patrons, endorse them, offer suggestions, and help them grow. By
building a staircase for others, you yourself are rising up.
Crux:
Your net worth is only as good as
your network.
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