“Give me a lever long enough and a fulcrum on which to place it, and I shall move the world.” - Archimedes
I started my journey as an entrepreneur around 3 years back. Coincidentally, the whole startup ecosystem in Bangalore was taking shape during that period, thus I got the opportunity to closely interact with the various ecosystem entities like OCC, Pluggd.in, headstart, TiE, NeN, media etc. and of course the various types of investors. I got a lot of help from all and it benefited me in my journey.
Fortunately, I realized it early that making investment a priority is certainly the wrong way to plan your execution. While all this was happening the recession struck and we had to make some tough choices and then we changed our business model and boot strapped our way forward.
Today, I am happy that I took some right decisions and we not just survived the toughest period but are now growing at a decent pace. We knew given the type of technology we have and the general awareness and openness for such a concept (enterprise 2.0 and Collective Intelligence), it is not going to be a cake walk and investors may only enter once we overcome the technology, market and business risk successfully. We were lucky to get early adopters in enterprise though who helped us survive as well as refine our value proposition.
I am sure almost all of us have similar stories to share and there tends to be a generic pattern among entrepreneur’s journeys. Idea of this post is to try and portray the path to success for entrepreneurs by knitting together the most common scenarios and help aspiring entrepreneurs not repeat common mistakes.
The comic (edutainment) video below provides the whole picture from start to success; I am sure most of you will be able to relate to it, do share your comments and anecdotes too.