Far too many people focus on needing xyz before starting up. Most of them are excuses and self-imposed roadblocks from what I've seen in my conversations with people.
I'm currently working on 2 ventures that still have many items missing from this list. Doesn't really stop me from making revenue and profit.
Sure, there may be some things required from this list for specific businesses and at diff stages. But they are mostly an extra, good to have but not required.
What is required in copious amounts is courage and will power, willingness to face rejections and ability to withstand multiple failures only to get back up and try again. Also, a healthy enough risk appetite.
I hope to see more young and talented folks (especially MBA grads) start their own thing some day. Best time is in your twenties and early thirties, when you have little to lose.
If you have any business ideas you want help with, I'd be happy to discuss and share contacts and resources if required.
Good luck soldiers, see you in the arena 🪖
The only one thing that you need is gut!! It takes gut to leave secured job and do startup
That's also not completely necessary tbh. I started my venture while I was still employed. Don't need to leave job unless you're satisfied with the growth and potential.
Interesting, how did you manage your time along with job? Did you take help of freelancers?
I mean agreed but I guess it depends on what you want in the end right. Like for me I don't want to do a startup because entrepreneurship is cool or I want to make the world a better place. Fuck that bs. I just want to make the max amount of money in the min amount of time & effort. Now I already imagine you and all the hustle folks shaking their heads as this is not how things work in real life. Do you think I don't know that? It's just building another copycat product out there will not achieve my goal and may not be the most efficient way to acquire wealth
Actually, entrepreneurship is one of the ways to make max money in minimum time.
Minimum effort really depends. If you are smart, experienced in the domain you want to startup in, and have even a few good team members willing to chip in, then you're already well placed to grow fast and be large and successful in 5-10 years.
As for copycats, even if you aren't copying someone, they might copy you. I experienced it firsthand. It is inevitable and also healthy competition. Execution is all that matters, originality of idea not so much.
You are confusing snake oil sellers with entrepreneurs. They are not interchangeable
I will be the devil's advocate here though I agree with your post.
Business/entrepreneur is not gmfor everybody!
Half of us here wouldn't even do a daily job if they had enough money in their bank, even if they had a high conviction idea that generated surplus.
Opportunity costs matter: If you have or can get a high paying job for your age, you wud need a business which will generate atleast 60% of that in profits for you to sacrifice. If it isn't making money, it shud be scalable that it makes more money in next 3-5y than your ever increasing salaries.
Financial dependencies: If you have many family members depending on you, leaving that above opportunity is irresponsible to them. Many 22yo that graduate today are in this position with having siblings who don't earn a lot or at all.
Luck matters. A lot. The environment you are in, the people you are involved with, will decide how long your business sustains.
But if one has the will and energy, they should always start something small on the side (or their main) and scale it up. Most problems above have a solution and some problems disappear with time. Also, don't aim to be monetarily successful right from the start, building Businesses dates back longer than Capitalism itself.
Agreed. It's not everyone's cup of tea but still worth a try for those who are interested.
Hi I had a business idea, but the only issue is I am from a commerce background and don't have friends who know coding, any way i can launch the app or find a tech co-founder?
Depends on what you want to achieve. Most ideas can be executed using basic no code tools and Excel tbh.
You should try no code tools and making it yourself first, try softr.io or something similar.
If it's a complex idea that you can't work on yourself, hire a development agency who can make an MVP for you for cheap (ideally spend less than 1-2lakh, not more than that).
Happy to discuss in detail on DMs.
Okay, thanks for this! I tried to DM first but its asking for grapes lmao, just installed this app so figuring things out :)
@Rorschach could you help me out with a simple biz idea I can start up with about 1 lakh initial capital.
I was thinking of opening a poster/merch store but have my reservations because of all the competition out there.
This is one of the most competitive domains right now. How do you plan to differentiate yourself from competitors?
That's the thing. I could spring up a very niche store but as soon as you do that the demand dwindles significantly. And as you said the comp is quite fierce
@Rorschach great bro, let me know if I can be some help to you btw I am a developer with expertise in frontend and react js development
Thanks buddy, don't need developers for now but will keep it in mind
Yes, compliance is a headache. But it's an even bigger headache outside India with much stricter deadlines and penalties from what I've seen.
It could be better, GST could be much simpler, but that shouldn't stop you from starting up. Many startups launch when even the laws aren't in place yet (uber, ola, rapido were founded when there were no taxi laws yet, same for crypto startups). That didn't stop them and shouldn't stop you.
To add another POV. I think otherwise. I am a founder. I went in solo. I had only point 1 out of the 10. I am burnt out as hell. I am losing my hair and health, I don't get enough time for my relationshis.
I think you should try to enjoy life in your 20s. Make friends and relationships that'll take care of you later in your life.
I think startups are not for everyone. If you really want to do, don't get in without co-founders or investors.
Totally understandable. There's no absolute right or wrong when it comes to these things, everyone needs to figure out what works best for them.
It's not a brick wall, but a ladder
https://youtube.com/shorts/6CLKI9dG25Y?si=BWKbWJoTOOCy7xKA
Tiny self hackathons on the weekend is all you need
https://twitter.com/tailwiinder/status/1759433471217520890?t=l0rd2qVxNG8-Kbk1L63nHA&s=19
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