Today for a group of youngsters who are about to start their businesses, I delivered a talk online titled “Startup Journey”. I explored various aspects of starting and running a business, topics like reasons to start a business, the traits of an entrepreneur, and key people one needs to deal with in the business world. In the presentation, I delved into my background, and the challenges and rewards of entrepreneurship, and tried to offer advice on when to start a business and how to scale it. Lastly, I emphasized the importance of having fun, being curious, and the willingness to learn and adapt.
In the dynamic landscape of business, the path of an entrepreneur is both challenging and rewarding. The journey of entrepreneurship is not just about starting a business; it’s about crafting a story of perseverance, innovation, and vision. The key insights shared in my presentation: “Startup Journey”:
Worst time to start a tech business
I started by highlighting why 2023/2024 may be the worst time to start a tech business: Investment Winter, Two major wars, AI replacing humans, the public’s mistrust of technology and policymakers coming after big tech.
Why Start a Business?
Starting a business is a deeply personal decision. It’s about controlling your destiny, leveraging your talents to the fullest, and sometimes, about changing the world. It’s not just about financial gains but also about the flexibility and the thrill of creating something new.
Who is a tech Entrepreneur?
An entrepreneur is a blend of an inventor, an innovator, an engineer and a practical manager. This role demands creativity, domain skills, and exceptional networking abilities. It’s about balancing the dream with the reality of market needs and operational challenges.
Key Relationships in Business
In business, you’re not just dealing with customers and investors. You interact with a spectrum of individuals from accountants to government officials. Understanding and managing these relationships is crucial for success.
Personal Journey and Insights
Reflecting on my journey, from my academic days at Madras University to my 27-year-long entrepreneurial path, the road has been filled with passion, risk-taking, tough moments, and critical decision-making. The moments of starting up, hiring the first employee, doing the first firing, learning to delegate and making the first sale are etched in my memory.
When to Start and How to Scale
There’s no perfect time to start. Whether it’s right after college or after gaining some industry experience, the key is to start. Scaling a business requires a strategy – from remaining niche to pursuing aggressive growth.
How to be successful as a founder
Finally, entrepreneurship is as much about business as personal growth. It’s about reading, travelling, being curious, and continuously learning and unlearning. This journey is not just about building a business; it’s about building a life that’s rich in experiences and learning. This journey of entrepreneurship is more than a career choice; it’s a way of life.
Best time to start a tech business
I ended my talk on why 2024 will be the best time to start a business: Artificial Intelligence Opportunities, Rise of Sustainable Business, India Advantage and Investments are in cycles, Better Days will come.