Adventure of Venturing

Should I adventure into a new venture?

 

A quintessential question that keeps the hungry soul on tenterhooks, we are all inherently aspiring entrepreneurs want to ride the startup wave and wanting that wave of success to stay with us through out the journey of entrepreneurship but quite obvious.

Just like any other good success stories around us that we keep hearing has a gaseous backdrop with a solid background so much that goes behind scripting a success story; it calls for an enormous amount of investment not the capital but the intangibles in terms of our dogged determination and unflinching commitment for a cause that we are passionately driven. Not to mention the agony, the concerted efforts and the sacrifice that one need to go through to taste that slice of success in starting up something. There are no such prescribed medicines or so to say any proven mathematical formula that we can simply pursue and we have our success guaranteed.

 

It is an intriguing journey, some good some bad some sad some made some hard some soft, and there is this mystical pendulum that keeps oscillating in front of us. Every one of us who decides to undertake this mythical journey in reality has to go through an uncharted path which has its own set of challenges that needs to be cautiously tackled and opportunities that needs to be adequately grabbed.

Though it is a real story but it impersonates much like a fictional anecdote that we keep writing where we have multiple characters and where we create conflicts, and which we as narrator attempt to resolve through our designed plot but the story to be a good story needs all critical elements to synchronize and that symphony than needs to resonate well with our target audience.

Interestingly, the character of the entrepreneur plays the most vital role in insuring the potential success of the venture. A strong character, a credible character, a resolute character are vital attributes to make the character of the entrepreneur stand out in the marketplace with so many similar ideas, it is never easy to come with an idea that is unique or path breaking and we keep enjoying the membership of the club exclusivity, and we cannot write our success stories without facing any real resistance or confronting the competition.

 

There is a fight.

There is a tight struggle.

There is that hidden plot we need to decipher and design our plan of action that is dynamic and decisive to beat the other plans that are in action at the marketplace.

 

It is an exciting journey to travel the road less traveled by.

Like every new thing in life, there is that prolonged period of fear and there is that impulsive moment of anxiety we all have to encounter, and there is no escape route and there is only one way that is to confront those tough periods and tantalizing moments head on, and keep learning and honing the art of positive confrontation fast enough to overcome those cycles of nervousness and circle of anxiousness that keeps encircling us like an octopus.  There is that tinge of uncertainty and the tang of unpredictability in this very journey of starting up and we need to willfully embrace and act with certainty and predictability.

 

There is an inherent paradox and we have to learn to live with that irony of the life of a startup story.

 

It comes with a series of experiments and it comes with exposing ourselves to the vagaries of natural calamities associated with entrepreneurship.

We need to plunge into the vast ocean of opportunity just like an ocean that throws at us a wave of challenges; ocean is just a metaphor for the potency of entrepreneurship. To see the stunning beauty beneath the ocean we need go inside the ocean and there are different ways to explore that marine treasure, snorkeling to scuba diving allows us to experience that exclusive adventure into the world of ocean.

 

The deeper we dive the higher is the pressure and the adventure of venturing boils down to how much pressure we can take on.

 

There is that initial inhibition of getting onto the field. There is this startup risk, the risk grows as we go inside, deep dive and brazen out the bigger waves.

Euphemistically speaking the biggest risk in life is not taking any risk but at the same wavelength one can state that it is equally important to measure the risk and not get blindfolded with the exuberance of the raw risk. There has to be a method in the madness of taking such risks, calculated steps and calibrated manner, keeps the component of risk in control. So to that extent starting any business venture small in investment and big in idea relatively minimizes, point to be noted reduces not eliminates the component of uncontrolled risk.

There is a science behind all such venture but what matters more is the art and the art of understanding the nuances of mobilizing and managing resources that are vital to the success of any venture. Resources are limited. Unlimited resources are a mirage we should not fall prey but unchecked this very conundrum becomes the graveyard. Engaging on a small-scale prepares us well for absorbing the appetite for scalability. It is such an important aspect of building the business. The business model is equally important as the novelty of idea and the inevitability of product or service. A good idea can take so far not farther, any idea to fructify into commercial success needs the right business model in place.

There are few luminous ideas and they are few and far between.

This hypothesis doesn’t hold well on these cases.

These ideas can fly by their own.

The muffled myth we all as entrepreneur carry is that our idea has an uncluttered aura and our unique product is sufficient to get us success and we get intuitively clouded with obsession. There is a thin line of border between the passion and the obsession.

 

As an entrepreneur we need to nurture our passion but negate our obsession.

 

The idea management, this is just one part of the story, the story to be successful it needs the power of marketing and it needs the robustness of model to run the business. It is a blessing if the entrepreneur can juggle with multiple hats but if it cannot the entrepreneur should know how to get the heads who can wear the hats.

 

The art of crafting the right team, it is a puzzle of solving the secrets of sourcing and aptly zeroing on the selection. Building the right team is the bedrock of sustaining a successful venture. The earlier we learn this trade secret, the faster we grow the ladder of success in starting up. The learning curve is critical to the life of an entrepreneur.

There is a cost to the learning.

This cannot be avoided.

One way to optimize the cost is learning from other’s failure.

We all read lot of success stories from the startup world to learn the art of how to become successful, but to become successful it is equally important to learn the craft of facing the failure and how not to succumb to the temptation of quick success. Here are the bricks and blocks of success and failures in adventuring into any venture of our choice.

 

The building block of a startup story starts with following bricks and ends up building a multi storied edifice, the ten step formula to cut the probability of failure and foster the success of any venture;

       

  1. The Groundwork
    • Mental Orientation
    • Physically Organized
  2. The Idea
    • The Uniqueness
    • The Utility
  3. The Concept
    • Feasibility
    • Sustainability
  4. The Product
    • Serving a Purpose
    • Solving a Problem
  5. The Model
    • Robustness
    • Reliability
  6. The Capital
    • Mobilization
    • Management
  7. The Team
    • The Attitude
    • The Appetite
  8. The Risk
    • The Degree
    • The Depth
  9. The Return
    • How much?
    • How fast?
  10. The Culmination
    • Value Proposition
    • Value Conversion

 


 Nihar Pradhan

Entrepreneur

 

 

image_courtesy_voiceofscouting.org

 

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Nihar PradhanStartupsEntrepreneurs,entrepreneurship,Startup,Startup Stories,VenturesShould I adventure into a new venture?   A quintessential question that keeps the hungry soul on tenterhooks, we are all inherently aspiring entrepreneurs want to ride the startup wave and wanting that wave of success to stay with us through out the journey of entrepreneurship but quite obvious. Just like...Break the barriers and Make a difference...