30 Oct Starting on your own
Business is all about solving problems. Solving here means removing hurdles for users when they try to gratify their needs. Choosing a problem to solve is the idea behind starting on once own.
Those who want to start on their own are inspired by the idea of perfecting something that is functioning imperfectly around them. They try to solve problem of being cheated in gas stations by creating intelligent fuel tanks. They try to pin road humps on maps and prevent bumpy rides. They try to read RFD tags straight from the basket full of items purchased at a super market and thus reduce long lines near billing counters. They create an app that helps you get a taxi/food/ friends wherever you are.
There are a number of imperfections around you if you care to see beyond the glamour and glitters of entrepreneurship. One individual cannot perfect all imperfections because each task of perfecting is huge in itself and might require one’s life time of work. Therefore, you should choose an imperfection that stirs your passion.
Obsession to solve is one indicator of being passionate. It is not essential to have domain experience. If you have it, then you can solve quickly. Or else, it takes time to solve the problem that has stirred your passion.
In my life time, I have known some who have started and yet to start on their own and who are bitten by the glamour and glitter of being an entrepreneur. They talk all the time of making it big – big money, big impact, big company and big status, of becoming a celebrity. I was not an exception. I am fortunate to have realized the pitfall. We talk anything but solving the problem at hand and this is a clear distraction. This is a symptom of the underlying state that your passion is stirred by the idea of making big and not by the idea of solving the problem.
Those who are stirred by the idea of solving the problem do not talk about making big. They talk about how problem could be solved. They want quiet, uninterrupted time to slog alone without the public glare. To them, big office, support staff, publicity, talking about success, dressing like or behaving like businessmen or for success are all distractions. They are obsessed with only one thing which is finding a solution!
Impatience for success is the root cause of being distracted. Those who are distracted are impatient for success. They shop for problems or hop from one problem to the other impatiently. They create huge expectations around themselves and get caught in the web of proving themselves. They borrow heavily, create huge offices, staff more people and advertise big to produce symptoms of success. Unfortunately, symptoms of success is not the real success!