Most young people with good ideas will find that 99 percent of people will give them every reason why their idea’s been done before or why it’s not a good idea or why they’re going to fall flat on their face.
The future depends on what is done today. No matter whether one is already an entrepreneur or passionately thinking about starting up, the road towards success will definitely have numerous challenges. Every startup has its own ups and downs, but the success of the venture depends on how effectively one handles the challenges faced.
It is important to be content working with the people around, to receive energy from the people at work. There’s nothing like being surrounded by people who believe in the vision to help get through the scary, frustrating, tiresome stages of launching a new venture. Having a clear purpose is vital in getting through the long hours, intimidating investors, challenging clients, setbacks, and disappointments, few ways to start right:
Most of the time, investors invest in a company because of the team, and not the idea. Because it’s all about execution. Thus, the pitch is the most important part. The pitch deck should clearly mention:
- Short and long-term goals
It is also important to make sure that these slides are not a wall of text, one or two big facts/pictures per slide. Financials are the only one that’s okay to have a wall of text.
Hitting the right chord
Most investors care about how the person pitching is going to build a great company and help make a lot of money. Skillfully educating a prospective investor on the product and vision is the top-most priority.
Doing the homework right
The most common mistake an entrepreneur makes is that he/she is not aware of how big an opportunity his or her product has. The more tempting one can make the market size, the more persuasive the deal will appear. If an investor asks how much revenue was made last year, and the answer is, “I don’t know, let me get back to you,” the meeting ends right there.
Life as a young entrepreneur seems exciting, but it brings with it challenges that you have to deal with on your way to success. Family members and friends might not understand why one chose to start a startup. They might not share the passion nor support the ideas. They also might question the decision not to work as a regular employee.
As a young entrepreneur, age can also trigger societal stereotypes that try to make youth a liability rather than an asset. While dealing with conflicting social attitudes and other age-related resistance, one has to face all the other pressures faced by anyone who wants to become an entrepreneur. The place in the startup world depends on how one navigates the obstacles in the way. Rather than letting other people discourage them from reaching their goals, learning about what one should expect is the way to rise above the fray.
Beginning an entrepreneurial journey can often be really tough, and continuing on that journey can get even tougher. This is especially true when starting out, where one often feels like battling a lot of challenges and adversity, and staying motivated can be incredibly hard! It’s often really easy to feel lost and lonely out there but fear not. The journey will not only change the entrepreneur’s life, but it might also change the universe. Even if failed, “ a billion lives will be touched and a billion smiles will be made”.
Entrepreneurship has the most exciting and inspiring notion to it, solely because of the thrill of building own venture. But sometimes, things get harder and will hit a wall, where one slips away from positivity and motivation. Though this feeling is temporary, it will compromise the liveliness, creativity, and dedication that we pour into the venture.
(Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views of YourStory.)