It's all worth it!

There is a saying that time & tide wait for none. Time, while continuously aging, leaves several lessons behind. Sometimes it takes a long time to understand all the lessons. For example, couple of years back, I was struggling with my team-mate and manager to fix an issue in the system installed at the site. We were not able to understand the issue and the system was down due to that. The site was somewhere on the outskirts of the city. We were not able to find the issue with the system as well as a decent place to grab a bite. It was a long & hot day. The ordeal continued the next day also, and finally we could figure out the root cause, something beyond our control. However we suggested some external patch and the system worked. The extended working hours were common on the project. Our customer had launched a new building project and our solution was part of it. So we were almost grilled day in & out to ensure that the system would remain up and running.

Years went by and very recently, I was sitting in the comforts of a five star hotel. I was in the audience section and the same customer was part of an ongoing panel discussion. In the fully-packed conference room, our customer was telling about the future of buildings, constructions & home automation. Out of the blue, he recommended features of our company's product and its relevance to the Indian home automation segment. I was dumb-folded on this open support. It's always great to hear your customer recommending your product/services to others. I also realized the golden moment was result of the hard-work not just by my team, but everyone involved in the project, right from the marketing to the logistics guy. 

It is very common to get a angry or dissatisfied customer in an early stage start-up. Your product is still not fully functional, it has been sold in the PoC stage, the customer is expecting some other features... There could be thousands of reasons beyond your control and you may left with annoying the small (or in same cases only) customer base you have. The best way to handle this situation is to face the issue, listen and try to understand your customer's concern. The key is not to give-up. Keep trying to fix the issue and finally fix it. Be genuinely interested in customers' issues and make sure that your product/services are upgraded to their needs. Now it may sound like a very obvious advise, but in case of a start-up, it is the most important one. You may be designing something really cool, but if it doesn't solve the purpose of your customer, be prepared to take an alternate route. Be flexible and stay focused on the customer. 

There are no 'bad' customers, only 'good' teachers when it comes to an early stage start-up. Even we have improvised upon several features and processes due to the tough customers. You will realize the worth of your efforts years later when the brand is established. Always remember that there are many start-ups which struggle to get even one customer. Feel blessed to have one and make sure that you retain the customer. 

If 2014 has been a tough years for your start-up, stay focused on customers' needs. And if you have done a decent business in 2014, stay committed to the customer base you have developed. Stay focused & stay committed because it's all worth it :)

Why NOT to start!

Be it a fresh engineering/management graduate or a mid-level manager, there is always a charm towards starting a company. The dream of starting one's own company is fueled by spectacular success of the start-ups like facebook, flipkart, snapdeal, zomato etc. The other reason behind this charm is the simplicity of the business models of these recently successful start-ups. Every one can easily connect with the basic idea and most of us have already thought about it. So it makes complete sense to dream about making your idea into reality, and establishing a company.

The time is always right to pursue your dream, however if your intention is one of the following, then you should probably think again:

• You don't want to report to any Boss: This is the biggest misnomer about a start-up. Technically there will be no BOSS or superior to you, if you start your own firm. But you will end-up reporting to all other persons in the eco-system, i.e. your customers, your employees, your partners and your investors. And all of these guys are more demanding than any typical boss. So if you just hate your current manager, try changing job and creating a new one.
• You are pissed about your current job: Apart from a demanding boss, there could be various other reasons one could be pissed about in his/her job. Chaotic work place, work pressure, unreasonable timelines, less growth options etc are few of them. These could very well be present in any start-up that you create or join. So carefully evaluate your decision to start something new. If it's driven by less satisfaction from your current job, you may want to try changing job first.
• You want to earn lots of money in less time: The rags to riches story of many entrepreneurs are very common. Founders of redbus, facebook, whatsapp etc have created a huge wealth by their start-ups. If you are also aiming to get fat returns from your dream start-up, be prepared to lose it all in the worst case. For every successful start-up, there are several failed companies. Are you prepared to take the chance to lose everything from your dream venture? If the answer is no, then probably it's not the right time yet.
• Because starting is cool: It may sound ridiculous, but I have come across people who would like to join or start a company, because everyone else seems to be doing it. Joining the rat-race without a solid back-ground check will take you nowhere.
• Your idea is unique: By your experience or your instincts, you have identified a unique solution to a common problem and you are pretty confident that it is going to work. Before you take the big step of starting it full time, do more home work. Try finding suitable guys as your partner, try testing the idea, try looking for other alternative solutions, try working out your finances etc. Be focused and take the plunge.
• You know everything about starting it and making it successful: Your recent venture has done well and you have earned huge profit. You have also seen the full life cycle of idea to implementation and have proudly made it worked. Your experience is invaluable, but unless you are ready to 'unlearn' your findings and 'learn' new tricks, starting a new venture is not suitable for you.

Starting a new venture is exciting as well as risky. Be prepared for a bumpy ride, if you want to explore this path. Please share your reason of starting or 'not' starting a company.