Startup tips from entrepreneur at TEDx talk hosted by NMIMS Navi Mumbai
Starting up is easier said than done. And no one knows it better than those who have seen their dreams fly high because of the sweat and tears they put in.
Harsh Lal’s journey with The Souled Store has been a lot like that. The Souled Store is an online destination for licensed popular culture merchandise that Lal, a law graduate, joined in 2014.
At the TEDx Talks hosted by NMIMS Navi Mumbai on March 31, Lal, the director and co-founder of The Souled Store, shared his lessons from his entrepreneurial journey.
Highlights from Lal’s talk:
-- I have worn many hats --- studying science and law, interning in legal, advertising, tattoo and journalistic setups, and eventually becoming an entrepreneur. Advertising taught me client servicing and negotiation. The tattoo firm taught me attention to detail. My journalistic work helped me write better. And my legal experience gave me a greater understanding of agreements.
-- While applying for a job, don’t just look at the pay and brand value. You need to research the boss you will report to as well as the work culture of the company. The right team will help you reach your potential. LinkedIn is a great tool. Talk to people currently working in the organisation to get an idea.
-- India has over 50,000 start-ups, and only 11 unicorns (companies valued over $1 billion). Over 90% of Indian start-ups fail. You only see the glorious side of the story in magazines, but the sweat that goes into conceiving start-ups isn’t commonly talked about. Starting a company is not a 100-metre sprint, but a marathon. A great idea doesn’t work if you don’t work hard.
-- Every fresher or college drop-out will not become successful. Get a job first and gain experience. Learn how a company functions and how a team is built and led. Talk to people, build relationships and find mentors. These values will take you a long way when you decide to start a company.
-- You need to learn to deal with failures. It is easy to blame other people or give excuses, but it is your job to get things done. As co-founders, we have worked with every single department, which has also taught us to respect every job. It is very important not to give up, and instead, emerge stronger with smarter organisational skills.
-- Good enough is never good enough. Every single shortcut you take will impact you and your team. The least you owe them is to give your complete effort to everything. If you have the ‘chalta hai’ approach, you are only being dishonest to yourself.
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