Rise of Pseudo Intellectuals in the Indian Startup Community is going to harm more than the sporadic recession.
With the growing number of startup, India has always seen a growth in number of people who are looking for similar opportunities. Finding the right idea and building a successful around it is no child’s play and everyone cannot master it hence a lot of people are looking forward to be a part of the startup community by contributing as investor, mentor and interns.
The rise in number of people looking forward to contribute to the startup community is a good thing for the country but certainly not a good thing for the startups.
Experienced investors always value the core team more than the core idea; for the new age entrepreneurs it is important to concentrate on team building rather than hiring. Hiring process should be kept for later, start working with people who are passionate and are going to put in valuable efforts.
To Be Aware of:
Investors with money and no portfolio: India has always been a country of rich people and pseudo intellectuals. With the growing startup community and with Flipkart and Snap deal acquiring irresistible fame, a lot of pseudo intellectuals with money are looking forward to invest in startups and be a boss.
Being a smart entrepreneur you can impress them with great ease but in the long run these investors will start creating disturbances and hindrances. They will look out for immediate results and they will also want to be in news for every good thing that happens in the enterprise.
Finding the right manager:
The Indian market is not only flooded with Chinese products it is also flooded with incompetent engineers and managers. When looking forward to hiring a manager or an engineer looks for past experiences. Not just look at their CV and hire them try to know a little about their passion, ideals and you will end up hiring someone who is self-motivated and dedicated towards moving fast and breaking things.
Maintain Distance from Serial Entrepreneurs:
Entrepreneurs with more than one business running and none successful at the moment tells a lot about the person. He is the “Jack of All Trades and Master of None”. Avoid such people when starting up; their intellectual views are going to demotivate you. Keep moving in the right direction, look for a mentor who has actually made it large and see your idea growing into a business. The idea here is to avoid people who are naysayers and are losers themselves.
All serial entrepreneurs are not bad but it is always a good idea to maintain a distance from them when you are starting up.
Look for a Co-Founder with complementary skills:
Finding a co-founder is one of the innocuous moves you will make. No body in the world is going to be as passionate as you for your idea. Look for a co-founder with complementary skills.
Beware of acquitters:
Investors and successful entrepreneurs are looking forward to acquire your business but never lose to their power of money. They are not here to help you grow instead they are here to cut down the competition. Think of it, if they are ready to spend such a huge amount of money then there’s certainly something about you and your business that they are looking for.
Look For:
Entrepreneurs cum Investors:
In the growing startup community, entrepreneurs cum investors are the only people you should look forward to. They have been in your place, they have worked hard and have reached to a position from where they can invest in startup and help newbie entrepreneurs grow.
Mentors:
They can be anyone; a meditation teacher can also prove to be a great mentor for the new entrepreneurs. While a meditation teacher can teach you to concentrate a musician can help you instill passion in your work. Find one who suits you and your personality the most and start following their preaching and teachings.
Consultants:
With the growing startup community, group of enthusiasts have started to help newbie entrepreneurs. It is easier for entrepreneurs to go through consultants and find the best investors and office space. Nurturinno.com is one such example, they are here to help enterprises go out and find the best of everything.
Patriotic NRIs:
Not all Non-Residential Indians are actually interested in bringing investment in India but then there are few who are really passionate about their motherland. Look for such NRIs and you will have access to the best of fund and motivation. These NRIs are going to make sure you are provided with the requisite fund and also with the best of insight how similar startups are working in foreign countries.
One advantage of having a NRI investor cum mentor is that they are going to provide you will insight about foreign startup community and also share new ideas. NRIs have experienced a different life and when they come back they start missing the facilities they enjoyed in the foreign land. One can always work on those ideas and services and carve a niche for them.
The use of money provided to you by NRIs will also not incur legal consequences. One can always use the provided fund for the development of a better business. Working with an NRI is one of the best opportunities that will come to the contemporary entrepreneurs.
It is time for entrepreneurs to grow a little skeptical, it is important that they are countering the effects of innocuous and pseudo intellectuals in the market and it is also important that they are building a shield around them that will protect them from the naysayers.
All you Entrepreneur, you are great in yourself and that is why you are referred as Entrepreneur, do not let anyone tell you what to do and what not to do; work according to your passion, break rules and set new paradigms and impress the world with your idea if you cannot impress them with your charm.