Five things you should know before joining the startup bandwagon

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Entrepreneurship is neither a science nor an art. Instead, it is considered to be a practice. But with time Whether Entrepreneurship is a Fad or a Trend? has become a highly talked about affair. So, blincventures.com decided to shed some light on this topic from the entrepreneurs themselves by releasing its very first limited podcast series, Ke Chha Ta? Blincventures.com in collaboration with Ke Chha Ta Podcast. 

When it’s time to enter the corporate world, Is Startup a Way to Go? is a question that lingers in everybody’s mind. Being our own boss is what the majority of us want, but establishing and running a startup is not a no-brainer.

So, is entrepreneurship and you meant to be? Here are some of the ways to find to out:

Check your finances
Sometimes having a dream is not sufficient. Practically thinking, you will need to chase the money to chase your dreams. So, check your finances! Weak in funds? Now may not be the right time to become an entrepreneur. Go out there, earn and then maybe in future entrepreneurship will be for you.

Investors invest in people
Find out whether you have what it takes to run a company because investment does not simply come from the marvelous idea you have. Investors invest in you, so decide whether you have the courage, the patience, the determination to move ahead in the path of entrepreneurship.

Disruption
Entrepreneurship and disruption go hand in hand but this does not mean that you create something that the market does not require. If your business idea is surely going to disrupt the market and it is what customers will adapt to, then yes entrepreneurship is all yours.

Ever wondered if a start-up is the way forward for you? Check out our conversation with one of the first movers of Nepal’s entrepreneurial ecosystem here

 

Go to the market and find out for yourself
The best way to find out whether you are meant for entrepreneurship is to enter the market and get the first-hand insights. You will not only get your assumptions tested, but will gain knowledge on demand and supply, the customer needs and wants and market size. Aashish Adhikari, founder of RedMud Coffee believes that the 9 to 5 jobs trained and groomed him to become the entrepreneur he is today.

Mirror your Credibility
If you want to operate a startup you have to make the stakeholders believe that your company is investable both in terms of books and finances. This requires focus in all the areas of businesses be it the product, pricing, supply change, branding and the like which is a blunder, most young entrepreneurs make.

On the ending note, entrepreneurship may or may not be for you. Yes, Nepal in current times, especially is in need of entrepreneurs but Nepal is equally in need of experts in the field of agriculture, supply chain, and infrastructure development. So, start-up necessarily may not be the only way to go!

Article by Trishna Shakya