Being a Student Entrepreneur : Lessons ‘Earned’

[“When you are young, work to learn and not earn” – quote by Rober Kiyosaki. And here is a guest article contributed by Sonesh Jain, a student at IIT, Roorkee and founder of a design company, Audegn.]

I co-founded Audegn almost a year back from my institute computer centre. Then, I was into my third startup. I was still a novice in entrepreneurship and I will continue to be one. There is a lot I learned in this yearlong journey. Good times, Bad Times, all twisting and easy. I thought I should just share for people around.

There are two ways to be an entrepreneur – Rebel and Novel

A rebel takes up any kind of work in his domain, with a spirit of completing the task in any given situation or time frame. And he does it.

A novel analyses the work up to 2+ of his limits and then decides if he can take up the work. And he performs with sheer class in a calculated manner. He does it too.

Those who fail on the rebel side are idiots, because they talk beyond the limits, but don’t know their limits.

Those who fail on the novel side are immature. They have yet not developed the risk taking factor + they don’t know how to articulate equations about a particular job.

Here is what I learnt:

Money

  • Never assume you have the money until you have it. While starting up, most of the entrepreneurs use their saved money to fulfill their needs, never assume you have the money on time from client.
  • Borrowing money in a hope of a due payment is the biggest piece of foolishness an entrepreneur can possibly do. Money that was coming has already arrived. Nothing else is coming any soon.
  • Time you enjoy wasting is not wasted. Money you enjoy wasting is wasted. Save your money for better things.
  • Learn Jugaad. Think of alternate ways of raising money. Think smart. Save earnings first and then spend it.

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Work

  • Hunt for free publicity. Talk more about your venture. Enjoy controversies. Create Buzz. Win competitions. Tell people how much you earn. It all will help to scale your startup if you reflect your words in your work too.
  • T shirt business or another  e-commerce website based primarily  on advertising is one thing that is in trend among students. Think sustainable. Think Big. Why waste your time and creativity and skills on a startup that you will end in a few months? For the sake of experience? Why not earning experience by a wasted effort in your dream than to learn experience by a partly or unsuccessful  effort?
  • Think Big, and Think all the time. Universe will make it happen for you if you reflect your thinking in your work.(#The Secret)
  • In excitement of a new startup and in thirst of making money, we generally end up taking overload. Avoid it. Overload only brings tension and trembling in peace, relations, health and attitude., plus, the client loses faith in you when you are in growing phase.

Life

  • Find time to call back at home or someone who loves you. They don’t disturb you because they are afraid you are busy. But they are actually dying to talk to you. Talk to them when you take rest. It means a lot for them.
  • Find time for small things slike bathing, cutting nails, cleaning hands before eating, getting dressed, washing clothes and for yourself. Its important.
  • Carry yourself well. Always.  If you cant stop being an entrepreneur, why not with elegance?
  • You are the heard and brain of your startup. If you stop work, your startup will suffer. Avoid falling ill. Take proper precautions.
  • You gadgets are your valuable parts, not just costly machines. Take care of them. They are very useful once broken or gone.
  • If you cant be an entrepreneur without having a disciplined and good lifestyle, dont be an entrepreneur. Its not worth it.

Moral of the story : Don’t wait. Dream and Start off. If your efforts are strong enough, you will succeed, whatever be the way may. Rebel or Novel.

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