Must Read for Entrepreneurial Minds!

This September’10 issue of Entrepreneur India magazine was their 1st anniversary issue. This was evident from the cover and from the size of the magazine (almost twice the regular content)! Usually I don’t read magazines cover to cover in a sitting or two, but this time around I did it. As I read through the writings of 60 odd entrepreneurs who shared their experiences, learning, follies, and importantly tips for aspiring entrepreneurs – the range of people and their inputs kept me glued to the magazine. Though I buy every issue of many of these business magazines I would particularly recommend this issue to every aspiring entrepreneur and also entrepreneurs who have started their innings.

While there were some pages that were totally interesting, some were pretty banal and very casually written. But the variety ensures that whichever few you connect with can give you enough advice for the investment (cover price).

While some advices were unique, many repeated themselves, rightfully so, thereby giving them their true place of importance. There were a few surprises as well. While I will not want to tell you about what each one had to say and which were my favorite and spoil the pleasure that you will derive by reading – here are some of the thoughts that did come to my mind as I read them. As entrepreneurs or aspiring entrepreneurs you may resonate / agree / disagree with some of these.

MY thoughts and some personal learning (take aways) post reading the issue:

  1. Although every Entrepreneur starts by pursuing a personal dream, what being to give him the actual satisfaction is when he becomes the vehicle for other people to realize their own dream
  2. No thickness is thick enough for an Entrepreneurs skin – it has to be able to deflect both the early criticism as well as the early praise
  3. You cannot survive long if cost alone is your competitive advantage
  4. As an Entrepreneur one needs to have the stomach to accept a “No” but as a businessman you also need to develop a heart that can say “No”
  5. You can never understand cash flow enough. Your focus should be on cash and understanding cash flow
  6. Entrepreneurship is all about being a People Magnet
  7. Raghav Bhal’s equation: An Entrepreneur = 1% capital + 99% persistence, focus and humility
  8. The worst vice of an Entrepreneur is Greed (for power and money)
  9. A pendulum has to stop sometime – Do not oscillate on over-excitement and over-stress
  10. They key to success – is the founding teams chemistry (does this rhyme too?)
  11. In the game of cricket – you keep your eye on the ball and not on the score board!!!
  12. Celebrate curiosity – identify and chase new trends
  13. Jugaad – the mantra to do business in India!!
  14. CEO = Chief Everything Officer (Now – that explains a lot of things!!)
  15. Have restless nights!!
  16. What’s YOUR skin in the game?
  17. Once you survive 3 years and remain afloat – funds will find you
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