Lessons from a Technology Entrepreneur
"Hiring: Every lesson in entrepreneurship has to start with Hiring. The biggest reason for any business to fail is the lack of smart and dedicated people. And, if you are a startup and looking to be more than a boutique shop, you have to think about hiring people who can grow as middle-level managers very soon....
Hedge your bets: When you are starting something, you are basically betting on your ideas and execution plan. At the same time, we all hate to admit that however sound our idea is, there is always a chance of failing...Either you choose to ignore the risk or try to minimize the risk by diversification...
Get a partner to start with: Get a partner that you can trust to start the business. There are more downs than ups in the business and you need somebody to pull each other up in the rough times...
Don’t build for acquisition:...if you know that you can’t sustain yourself without being acquired, there is a problem. In fact, you might land up in a situation where you are not even worthy of being acquired in that case...
Try to create IP, even if you are a services company...
Social circle outside work...People stop being productive when they stop having fun..."
Read more in this reflective post from Ashish Kumar, founder of Tekriti Software.
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