The 100-day rule for Entrepreneurs!
So many of us are leaving corporate jobs and starting off on our own. It is really exciting times for entrepreneurs today, especially in Bangalore. This city embraces passion and zeal like no other. Nearly four years ago, I also took that step and have never looked back.
They say that if your start-up survives the first 1000 days, it has proved its business model and will thrive in the years to come. But I say that the 1000 rule comes after the 100-day rule for you as an entrepreneur. If you can get through the first 100 days of starting out on your own, you will make it!
But when one has worked as an employee for a few years, one can’t help but worry about 3 things before taking the plunge into the start-up world:
- Regular income
- Regular income
- Regular income
Am I right? That is what I was worried about the most. But once I quit, I realised there are many more difficult things to handle in the first phase. For example:
The fact that I was working from home the first 6months or so:
This meant staying alone at home with nobody to talk to or mingle with. Nobody to gossip with or take a coffee break. Spending hours and days alone really takes a toll on you. More so because at the start the work is sporadic. There is nobody to discuss ideas with or argue with. It is really a lonely time when you are challenged to keep believing in yourself and your decision.
Doing all the little things by myself till I had a team
As a brand manager, I was used to people helping me with the day to day errands at the office. Be it sending a courier, depositing a cheque, opening an account, signing papers etc. But after I quit, I had to do everything myself. It’s harder than it sounds. I was not even aware that I had to open a current account and that the savings account won’t do. That is how naive I was about doing my own thing! And to spend time on things which are not in your area of expertise can get very exasperating at times. I had to run around talking to government officials. Pay them money to expedite things. It was all very very new. And felt like a real waste of time. But most of all, it makes you feel very helpless and annoyed!
Building credibility and marketing yourself:
Entrepreneurship is all about networking. And at the start, it is very difficult to market yourself. That is because you go from being somebody at work to nobody, overnight. Suddenly you are chasing those who would chase you. So it is a pride swallowing phase and if you have a big ego, you will find it very hard to cope. You have to start building your credibility all over again and literally market yourself to friends and family. That can be very difficult for many. But slowly you realise that you need to do that in order to gain the confidence of people. It is only fair that you showcase your work every chance you get so that you are noticed. There is nothing wrong with that. And nothing to be embarrassed about. Not too many have made it big by keeping their work to themselves.
What helps is to surround yourself with people who are patient with you. And assist you in your journey. I had my father (who is a businessman) to guide me and be patient with me through the 100 days. I also had friends who supported me with work. So good luck! And 100 days is all it takes to start this amazing journey of entrepreneurship!