Entrepreneur - A Mystical Being

Entrepreneur - A Mystical Being

Entrepreneur is a big word; I mean literally a big word with 12 letters!

The mystical aura of this word begins right with its pronunciation. I still struggle with it. But does it really matter? With all my limited experiences and understanding I have come to believe that being an entrepreneur is not just a role one plays or a job one does, rather it is a way of life, a state of being.

A simple google search would tell us about the key skills required to be a successful entrepreneur. Skills like, Business Management, Communication, Strategic Thinking, Creativity, Go-Getter Attitude, Hustler (Jugaadu), etc. Most of this is true, but the underlying essence of way of life is much more subtle and integrated with every aspect of being. Simply learning the management tools and implementing the right analytical strategic approach integrating varied business functions by driving people towards common goal, although sounds like a good plan, often does not deliver sustained businesses.

Taking a step back and zooming out from management jargons, the best way I can describe an entrepreneur is ‘Baniya’. A local shop vendor or a small business owner have the same attitude and approach what a large business conglomerate leader has. The difference is know-how and technical understanding of large-scale operations or financial management or cross-border business norms. The skill of optimising resources at hand and attaining sustained profitability (irrespective of size) is the key indicator of attaining ‘Entrepreneurial Enlightenment’.

My daughter had her first start-up stint when she was 5. She made paintings and sold them to friends and family for some 200 rupees. The profits were used to buy a toy. She did not pursue it after the success and that is OK! A large section of economy in any country is driven by small business. I know someone who began offering homemade lunch tiffin service to colleagues in office where she worked and later took it up full-time to offer tiffin services to all offices in that area. She stopped there, that’s it! No further expansion plans, no large funding request, no fancy valuations, no global food chain, none of it. She runs a business optimising her resources at hand and has (so far) attained sustained profitability. When I spoke with people who have seen her through this transition, had the same opinion about her; she is excellent with people and building relationships. Being with people and bringing them together is her way of life, being a successful entrepreneur is just a visible peak of iceberg. Her core strength is her focus on relationships by being mindful of not draining her resources (STEM- Space of Mind, Time, Energy, and Money).

A generic perception lately built around entrepreneurship and start-ups is largely driving by Unicorn valuations, Venture Capital funding, large scale operations, disruptive innovation, integrative marketplaces, etc. While all of these do add glamour, but it is also essential to keep focus on aim of constantly evaluating what value addition all these business activities bring to you and those around you (family or humanity as a whole). In layman terms funding received can be perceived as money borrowed for your business and one must repay by returning more than received, the technical terms may include equity dilution or debt funding or something else. However, the underlying principle of having someone value your business (price of selling it all) and taking a bite from it (commit funds over pre-decided milestones) is just one of the decisions in journey of that venture you began. The journey is crafted by your ‘Exit Plan’.

When my daughter kicked-off her first start-up, her (said-unsaid) exit plan was to buy a toy and be content with it. When the lady offering tiffin services began her journey, her plan was to attain sustained profitability and she stopped running for more. I know of someone who kicked-off a start-up with an exit plan of increasing the worth and selling it to someone. The earned money was for early retirement. Exit plan may be anything that resonates with you but is the beginning before beginning a start-up. It gives direction to flow, gravitas to decisions, and content of purpose bringing peace. It is compass to navigate. Does it need to be stringent and immovable over time? Of course not, that is not how human mind works. We constantly learn, experience, and act towards what we find valuable in the moment. As Gandhiji said, “My aim is not to be consistent with my previous statements on a given question, but to be consistent with truth as it may present itself to me at a given moment. The result is that I have grown from truth to truth”.

In my experience as I write today, the compass that helps is to ‘Have Fun’. Remember the tickle in your stomach when you think of taking the leap towards changing something in your life, changing your ‘way of life’, changing ‘who you are’, changing your ‘being’. Keep the tickle as your compass and no matter what you do, make your you ‘Have Fun’!