Being your own boss, millions in funding, and the glamor associated with startup life pulls youngsters with online business ideas. But building a web driven startup is not as easy as it seems. It is especially not easy for entrepreneurs who haven’t spent years working on digital products and around internet in general.
I was the entrepreneur without IT knowhow when I decided to build my online consultation startup, QuikConsult. That’s why I want to share 5 things that every entrepreneur who hasn’t breathed and lived internet should accept before starting on their journey. Something hard to do but it will just make things easy. Here we go then!
I don’t know much
A man who thinks he knows everything can learn nothing. Young online entrepreneurs without IT background have too much to learn about launching a business, scaling it, and raising funds. Hence, if you start with the assumption that you have figured out everything, then, you will have a hard time. Even seasoned players sometimes fail with ideas and market predictions. I mean look at Google. It is the most powerful technology company but still hasn’t figured out social media (think Google Plus). Hence, accept that you don’t know much so that there is ground for learning.
I would need help
Now that you know you are master of none, it is time to accept that you will need a help hand. Correction, you will need many helping hands. Whether you plan on launching a website, software or app, you will need people who can:
• Conduct market research and analysis
• Build your product
• Figure out marketing
• Chalk out growth trajectories
Warning – Finding these game changers will be a major headache. Even in the presence of millions of IT service providers, it is hard to find a team that has the capability to bring your vision into reality. This is a problem of scarcity as well as plenty. But this would be a problem only if you recognize that you need help. So, accept that first.
I got to learn
Some people like to do things on their own. Like Kevin Systrom, founder of Instagram. He learnt to code rather than hiring someone to create one of the biggest photo sharing platforms on mobile. Being part of the development process will make sure that final product doesn’t come out as a surprise to you. Even if you don’t have the time for that, you should have basic understanding of digital product lifecycle to make sure that people around you are working in the right direction. So, learn fast, fall often, and come out stronger. This is how everlasting online startups are built.
It will take time
Startups don’t succeed overnight. Entrepreneurs who have being hailed as poster boys of Indian startup scene started working many years ago. Hence, you got to take note that your startup will not shoot through the sky as soon as it is launched. Well, maybe it will but check the enthusiasm in the beginning. Some entrepreneurs start with the assumption that funding will come their way within months and don’t plan for branding and marketing expenses. Even if your startup idea is gold, funding may still evade you for some time. So, prepare for that.
Some will walk away
Entrepreneurship is a long road and many who will start walking with you will willingly or unwillingly change paths. This happens when you work with partners having prior commitments that stop them from investing money or time. So, it is quite obvious to be disheartened. But don’t be and figure out the next step. Here’s an interesting blog post that tells what to do when your co-founder wants to leave.
I believe that nothing hits too hard when you are prepared. So, accept that some will not stick to the last. Also acknowledge that fascinating people will join in and become part of your success story.
NOTE – Above point is equally applicable to entrepreneurs with technical knowhow.
Entrepreneurship is tough especially when you don’t know where to start but with right mindset, you can surely launch a successful online venture and generate huge profits.
Do you have any other tips that might help aspiring entrepreneurs in claiming success? Share them in the comments section to help someone succeed!
This article was first published on BWDisrupt.com.
By: Jas Kaur is the Co-Founder of QuikConsult. Quikconsult is a Chandigarh based startup that connects experienced consultants of India with people in need of expert advice.