A letter to an Entrepreneur - 6
You have always been one of my brightest student. And I have always seen leadership qualities in you. I knew from the beginning that you think differently from the rest of the class and one day you will become your own boss. Today when you met me and discussed everything about your ventures and success stories as a teacher I was quite happy for you. But being a counsellor I could easily read your eyes and can easily make out what is true and what is false? Now as a Management consultant I would like to share few words with you. Hope you won't find it rude.
Everyone has different financial background and so everyone has different risk taking capacity. Depending on availability of sources every person decides how he can optimize resources properly. When someone decides to become self-employed he does it with his own choice and so he should be proud of his decision.Even a biggest visionary leader can tell you that they dreamt really big but not all of them had those resources. So as an Entrepreneur it is very logical thing that till break-even you are not going to earn anything as profit. And it's really difficult to survive in that phase when you work with limited corpus. Even if you have planned resources in advance; sometimes emergency can arise when your estimated budget gets completely collapsed and you don't have plan B ready.
Till now you might have understood about what I want to point it out here? I want to tell you clearly that Entrepreneurs should never bluff. He should be true to his consultants, his employees, his vendors, customers and above all he should be true to himself first. Whatever you have done till now is clearly visible and all credit goes to you for such a wonderful start-up. Not everyone can become his own boss as it needs lots of daring and appetite for risk. Then what make you shy away from reality? Why you are not pragmatic enough to accept the fact that you need some more time to run your venture successfully? Basically, why you are bothered about people?
You are quite vocal that is really good for your firm as you yourself promote your firm confidently whenever you have to do it. But why do you Boast? Do you know how badly it can affect your organization? When you negotiate with your vendors you undervalue your firm and ask them more concessions but when you represent your company in the market you pretend that everything is fine with it. To some extent you can be calculative and take mid-way route to deal with such situation.But at the core of it you should be more realistic and true. If you don't discuss your symptoms clearly with Doctor, how can he give you right medicines? Similar thing applies to your business. If you don't share problems of your firm properly with your consultant how can he give you the apt solution? Think Again,
Whether it is Entrepreneurship or whether it is real life; there are three kind of people around you. One who take you seriously, two - who don't take you seriously and third who don't have any opinion about you. So why you want to care for later two categories? Rather be faithful to people who are associated with you and your business. For your stakeholders, customers, partners, vendors, employees etc. your 'Words' means a lot.
Trust is an important factor of any business and Truth is the base of Trust.
Hope you will find my mail useful.