What does it take to be an entrepreneur?

The Brand Called You (Episode 3)

Key Highlights

1.  Who is an entrepreneur?

2. Existence ‘Me-time’ in entrepreneurship

3. The right time to take the plunge and launch your venture

4. The role of financial and family support in making your venture, a success.

5. Ashutosh Garg’s learnings from his entrepreneurial journey in setting up Guardian Pharmacy in India

6. Having a fully detailed plan for your venture V/S following your gut

7. As you grow as an entrepreneur you need to trust others to grow your business and take executive decisions. Do you expect them to do it with the same passion as you do or do you accept the reality that my business is my baby?

 

 

Transcription

Q: Who is an entrepreneur?

A: An entrepreneur is someone who has an idea, has the will to be able to convert his idea into a reality, has the drive to see through whatever implementation required to fruition, is able to build a business, stay the course and finally is able to maintain his/her sanity while going through the 24 hour workdays.

 

Q: Existence ‘Me-time’ in entrepreneurship

A: Existence of me-time when building a business, completely disappears. Today you could be the CEO of your company and tomorrow you could be cleaning the shelves or running errands for your business. This is the stark reality of being an entrepreneur.

 

Q: The right time to take the plunge and launch your venture

A: There is no right age and time to jump in and launch your business. The big challenge, for an entrepreneur, will not be getting the right idea but will be executing the said idea. if you wish to be the captain of your own ship if you have an idea the only thing that should matter is implementation. Once you know how to do it and are ready to do it- then your time to launch your venture has arrived.

 

Q: The role of financial and family support in making your venture, a success.

A: There are multiple ways to make resources available for your venture; if you face a shortage of financial resources. If you have a strong business model and are capable of delivering as an entrepreneur, then you will find enough opportunities to get your company going.

A family is the one support system that exists for you, regardless of the circumstances you find yourself or your business in. If you are encountering stress at home, I would suggest resolving the stress at home before you carry on to resolves the pressures of your entrepreneurial venture. It takes more conviction to carry your family, having peace in that segment will only provide relief in other areas where you face stress.

 

Q: Ashutosh Garg’s learnings from his entrepreneurial journey in setting up Guardian Pharmacy in India

A: Be ready to be available round the clock.

Learn the art of carrying people as the organisation grows.

Learn to inform and carry yout stakeholders.

Pay attention to your health, both mental and physical.

Be equipped to manage your money.

 

Q: Having a fully detailed plan for your venture V/S following your gut

A: Gut feeling is really an extract of a lot of experience. While following your gut is important; as far as business is concerned, every entrepreneur must write out a broad framework of what they want to be able to achieve. This broad plan works as a guideline for where you wish to take your business.

 

Q: As you grow as an entrepreneur you need to trust others to grow your business and take executive decisions. Do you expect them to do it with the same passion as you do or do you accept the reality that my business is my baby?

A: This is an interesting dilemma every entrepreneur faces. You can either remain small and keep control of everything or you can build a team of trusted people who may never have the same passion as you but who will definitely have the same commitment because you will be grooming them.

 

It is important to grow your business, because if you do everything yourself then you won’t have the time to do what you’re supposed. So learn to delegate the business and keep growing the business.

 


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