Every business is a seed planted, that when nurtured with patience, discipline, perseverance, and focus, help 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 believing in oneself results in making a successful entrepreneur with many stories and learnings worth sharing.
Our story is no different!
We went through many complications, nightmares, showstopper issues, and whatnot! Yet, we got our way out each time stronger and wiser than the previous one. Our focus stayed on our core building blocks that are listed down.
These are our five (5) primary learnings-
Nothing is Permanent
As a business, it is crucial to understand that nothing is permanent! When it comes to Human Resources, Clients, Processes, Products, and Technology. Companies often face a challenge to accept unexpected changes. Mostly, these changes happen abruptly and leave you in an atrocious position, where recovery becomes difficult. Fortunately, we learned this early and kept a close eye on all the factors; strengthening up with solid mitigation strategies to avoid several sudden surprises.
Believe and Perseverance
Belief in your team and its capabilities play a crucial role in another learning of ours. The people, processes, and strategies take a while to settle down and become an integral part of the organization’s DNA. They do not always start showing results immediately, and you may need to show a tad more determination backed by a strong faith that things will gradually show steady results. One is bound to feel anxious, irritable, and even furious when things do not fall in place as anticipated. These are the times where our patience plays a critical role in keeping us 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 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 advisable to take smaller steps instead of big risks, which may become the reason for the sinking of the ship. It is 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, does not 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 be done while making sure they do not 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 robust ground.
Never ride on a single horse
Often when a small business starts, they get one or two such customers that become their primary 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 is 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, the time came when that partner had no work for us, we already had enough other opportunities that made it possible for us to move forward.
We have learned a lot more than this during our ten (10) years journey, but we can’t share all of it in a single post. Hence, we kept the five (5) most essential ingredients which worked best for us.
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