Some guidelines to keep in mind before jumping into a startup
My name is Prashanth Raghu, and I am the founder of http://ytrender.com and http://11lines.info and was a CIO at http://neuerbox.com. Let me stay upfront that these startups did not meet the sunshine and are now having a cool retired life in the startups retiree association.
But the most important aspects I learnt from these startup experiences is what I feel is worth sharing with you startup enthusiasts:
1. Doing a startup is not as glamorous as we think it is. Yes it looks all hunky dory in the beginning but trust me there are thousand things to ponder over while doing a startup which we would have imagined when our idea hit our minds. I started a startup with my friends who I never taught would have a fight, but I was proven wrong. This is just a simple example.
2. Developing the software is probably the simplest of the aspects: Given the simplicity of today's software development tools and IDE's to support our development and the availability of talent pool in starthub hotspots such as Bangalore, Noida, Hyderabad. The development of the software is most probably the easiest of aspects today while doing your startup.
3. Be slow but also be fast: The development of the startup should not be so rapid that we have a working model within a week, nor should it be so slow that it will take a year for the POC. It must be ideally paced.
4. Most of the startup's growth depends on the leadership: The leaders of the startup must have the drive and the growth vision for the startup and this has to trickle down into the employees. This does not happen in the reverse manner. The employees work is a reflection on the leadership quality.
5. Think a lot before you startup: This is a mistake I made in my tenure at startups. I did not ponder a lot over beginning my startup. Let me be honest, doing a startup is a lot of fun but also equally stressful. Other than a good work plan, we also need to have a good daily rejuvination program such as meditation or yoga. From my experience hobbies such as playing an instrument daily, pursuing an art such as painting also go a long way in rejuvinating us during the rigorous work schedule and according to me a must for all startup employees. Give yourself time for a movie every week and a game of badminton also relax with friends in the evening and take your parents to the restaurant every fortnight. Family support is very crucial for startup employees. Trust me doing a startup is not everything in our life, there are lot more important aspects of life which are equally joyful and pleasurable.
I would leave it to you to think over these 5 points as well before you startup. All the best :).