Is Patience an important factor that most young entrepreneurs miss
Now-a-days a lot of young entrepreneurs start their own startup and the pace with which they start is also the pace with which that idea is dropped. Sometime it is important and necessary, when we see that the idea is not working. Like, our initial assumptions were wrong about the market, our clients or consumers. But there are a lot of examples when I have seen my friends stopped working on those ideas.
The INVESTMENT has become a fancy word and every young entrepreneur is falling for it. For me it is same as every Indian parent forcing their kids for opting Engineering stating, "Bahut Scope Hai" or "There is a lot of scope in Engineering".
So, today in this post will be talking about such examples. Also, to be honest it is easy to judge those events now but realising the same thing being in their shoes is not easy. So if you are in a similar face this post might help you.
- The Chinese Bamboo tree
- 1000 ways with which the light bulb cannot be build
- Slow and Steady wins
- Some Fancy and Trending Examples
Introduction: Execution vs Ideation
One of my friend recently started a startup X, to create a marketplace to book salons online. So basically the idea was that, you may book a salon before going and may take appointments online. And they were charging some commission over the transaction performed on their platform. And it was their business model.
Sounds fair right. They had put their own money. They were some 6-7 founders of the startup. And they all had put equal money over it. Not they had no idea about the cost to develop such platform. They put some 60-70k INR for the development of the platform by outsourcing it to some developer. But to be honest being a web developer the work was done as if it was developed for not even 5k INR. It was malfunctioning and had many security issues.
Being a friend I suggested him some fix ups. He connected me with his developer and to be honest it was a blunder. He had no idea about web development with no experience. Also the payment was never integrated in their web application. So their simple yet effective idea of taking commission was only on paper. So after a few months I talked with him suggested him some fix ups.
They had the zeal to work for their idea it was just that they could not execute it as planned. And this is very important factor to remember that no matter how big, complex or simple your idea is. If you cannot execute it, it is just an idea. Also don't execute too early without measuring the risks. Like taking risks are very good till it is a calculated risk. But taking risk without context does not make sense either.
Read about Design Thinking
The Chinese Bamboo Tree
How to plant a tree?
It is very simple, you take some seeds, plant it in fertile soil, water it regularly, place it under some sun shine. Easy right?
Maximum entrepreneurs feel it the same way. You have an idea, you do some market research, test your idea, start working on it. Build an MVP launch it in market. Get some funding and grow your startup get some more funding launch it in more cities and yeah boom! You are a successful entrepreneur.
But, is it? Or if we get back to our old example, planting tree is that easy? The straight away answer is no. It requires a lot of things behind to take care. Those are small things but that matters.
Faith & Patience
Faith and Patience is a must. The moment you have validated your idea about your startup and started working on it, have faith and patience from the day 0. There might be times when you might see nothing as a result but believe me it is coming, just a bit longer. We often start doubting ourselves, if we are doing right or not, or if we are going in the wrong direction. Strong roots/foundation are the basics of any strong tree or any building. Likewise if you want to build a successful organisation you need to spend more time on the root of the organisation.
Now, the question is that for how long you may wait. The Chinese bamboo tree takes up-to 4 years to show any results of the progress. Just imagine about the patience of that farmer growing Chinese Bamboo tree.
For the first 4 years you have only job after planting the seeds water it, nurture it. In a hope that after 4 years it will grow. The same is with you startup also. Keep working on it, give yourself enough time to build your startup. Even if you could not succeed, believe me that you will learn a ton of things that no business school may teach. And I always believe in the fact that, Journey is often more important than the destination. It teaches you a lot of things that you won't otherwise.
Slow and Steady Wins
Just imagine yourself in the place of that farmer and ask yourself can you wait for those long years. The only difference between you and that farmer is that he knows he only have to wait till 4 years but in your case you don't. If might take 1 year, 5 years, 10 years or a whole lifetime also. Keep working just don't quit. You might get somewhere if you are walking slowly but you won't by standing still in the same place. Life is all about learning and getting it figured out.
Age is just a number, someone started his career in his teenage, some started back when he/she was 21 someone started when hs/she was in their 40s and some started when they were in their 60-70s. And you have examples in all those categories. Just don't compare yourself with those numbers. They have their timeline you have yours.
You might have heard about the famous race between the tortoise and the rabbit, and in the race the tortoise won always. If you consider your startup journey as a race than you gotta be consistence. It is better to walk slow than standing still.
I also believe that it is more or less like a cricket team. You need openers, who can give you a good start, not strikers but yeah those who can rotate the strike and score runs for you. You need finishers who at the time of scaling can get the job done at the same pace of scaling. Batsman are like tech, design or development team, bowlers are like marketing team, legal team and rest others or vice-versa. If it is balling time than the batsman should score enough to win the match, and vice-versa.
Believe me it is your life and you are the hero of your own life. You need to take care of it.
It is all about your perspective on How you want to see it? Their are all kind of people in this world depending on your perspective. If you need motivation search around you. I am sure you will get some great motivations inside your own home only. Also, I believe more in internal motivations not in these external motivations.
If you are motivated internally without any external motivation you may do anything. Because these external motivations are more like addictions. The more you take it the more you get addicted to it. And the irony is that these external motivations are just to ignite you, motivate you internally.
1000 ways with which the light bulb cannot be build
You might have already heard about sir Thomas Alva Edison (February 11, 1847 – October 18, 1931). He was an American inventor and businessman who has been described as America's greatest inventor. He developed many devices in fields such as electric power generation, mass communication, sound recording, and motion pictures. These inventions, which include the phonograph, the motion picture camera, and the long-lasting, practical electric light bulb, have had a widespread impact on the modern industrialised world. He was one of the first inventors to apply the principles of organised science and teamwork to the process of invention, working with many researchers and employees. He established the first industrial research laboratory.
There is a very famous incident about him, when he was working with the light bulb he tried different materials to put in the bulb, like grass, wires etc etc. It is also said that before actually finalising and settling with the final material he had tried as many as 1000 different materials, and on this he said that he found 1000 different ways with which the bulb cannot be made.
One another famous incident is about when his whole lab burned. He called his wife and while watching his lab burning he said that his whole wrong works are burned and he is getting a new chance to start again. So it is all about the perspective. How you want to see the situation/incident.
Some trending examples
And it is not done, there are a lot of other examples which shows and proves that if you are willing to work than the whole world is an opportunity.
There is a famous dialog of a Bollywood movie. Which says that:
Kehte hain ki, Agar kisi cheez ko dil se chaaho to puri kayanat usey tumse milane ki koshish mein lag jaati hai
It translates to, If you want/love something from the core of your heart then the whole world starts working in the direction of making it happen.
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Some good articles over Chinese Bamboo Tree