Being an entrepreneur is like riding a bi cycle, you need to balance it; pedal it; apply brakes while riding and watch out for your road, so that you don’t hit into something / someone, keep a sense of direction; so that you don’t go astray from the path. All these activities are to be done simultaneously; so that the ride is comfortable and reiterates. Making sure that it all works together is of vital importance or else you would be leading; in the race against yourself. To make a comeback to your actual path nay to say that you need to pedal more; i.e. time consuming; but also you might have to take acrid turns which may; may not act in favour to you. There is a simple logic; you can take time as much as you want; when you are yet to start a business! Once started it need to replenish time, energy and money.
I had been to seminar lately wherein Chanakya way of 7 pillars of business was discussed, I would like to share the same as a basic idea that an entrepreneur should keep in mind ‘ALWAYS’. It is so surprising that these principals made ages back are absolute and can accumulated without any changes.
1. The King (The leader) the primary need is to have a committed leader who would act, behave and have a vision not just for a company but also including the people who are there in the company along with the leader. The person responsible for the whole.
2. The Minister (The Manager) the people who are to second the leader who are responsible in the absence of the leader. Responsible with limited areas and expertise.
3. The Country (The market) decide your target market; make a survey collect data compared than to assume notions by bystanders. Where / who do I sell my product / services? Why would they buy?
4. The Fortified City (Head Office) Make sure that there is comfortable work environment which is safe for colleges to work along.
5. The Treasury (Money) everybody understands it you need to have money to start off also at the same time you should manage well the money that you have.
6. The Army (The Team) The people who are associated in the daily working where actually the executive work takes place should be well equipped and aware of the responsibilities. They should understand their own work.
7. The Ally (Friend) it is easy to get unidirectional in order to achieve a motive. Friends, consultants in the same field you seeking knowledge; should be brought into the loop which would help for more insights. Mind it the key work is ‘selected’ and not the whole wide world.
These points are the whole pie which make it complete, any of the parts missing would not complete the pie. These same principals can be applied in personal life as well, but as far as business is concerned it is clear demarcation of responsibilities and applicability of people. Nay the idea of entrepreneurship is to make money, yes that is fact; but for sustainable business it should be fair / ethical work practises to all associated as well. The leader is centre point; the leader should be energetic, optimistic and logical towards his work and colleges.
The vision of the leader shall lead the crowd to where it would reach. It is essential for the leader not only to lead but also to be humble enough to understand the other side of the table. A good strategy is of vital importance but applicability would surpass its importance when applied. Take actions and actions lead to responsibility of those actions. Open to new; but matured with experience is the mix and balance that a leader needs to have in ample.
The leader who will not instigate; will not motivate but inspire to excellence would reach heights. The growth is inevitable when a mission to reach a new height and footing perfectly on the ground. That is when the leader is able to sit on both sides of the table.
The aspects which are a must for a leader can be well understood with the whole brain model by Ned Herrmann please refer to Figure 1 below. The leader cannot only be Logical without being Emotional at the same time a leader cannot be Holistic without being sequential. These may clearly not define what a leader / what an entrepreneurship is? It clearly defines what a leader / entrepreneurship should have to be called one.