10 hard lessons learned too late from entrepreneurship

Entrepreneurship is great.

Its intoxicating and overwhelming at the same time.

I had been an entrepreneur for 3 years and then I quit !

Not because I wanted to but because I chose to.

Before I return to the field wiser, Here are the top 10 things I think i learnt too late :

  1. Don’t carry co founders as baggage because of emotions — call a spade a spade and get rid of whoever isn’t aligned with the vision
  2. Hire smart people and then get out of their way and let them perform
  3. Know when to quit and fold your cards — let your balance sheet guide you, understand sunk cost factor
  4. Raise money when you don’t need it — if you raise it when you need it, it will never get used for the core purpose
  5. Plan for 6 months ahead, not for the next month — see around for what’s changing in the world
  6. Never stare long at abyss because it will stare back at you — stare at possibilities around you
  7. Know when to pivot and let go of what you created for something which is needed by the customers
  8. Distribution is an important part of sales - look at how a dying show called “le casa de papel” became a super hit show called “money heist” the day Netflix listed it with a regular banner
  9. Never run out of cash, never.

Fell free to comment below with your thoughts.

Follow my blog at www.getinspiredtoday.in

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