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Gargi Shah of The Playce, a co-working space for startups and freelancers in Mumbai, urges you to recognize the hardships of startups, before taking the plunge.
India is increasingly being recognized as a Startup Hub, first because of the e-commerce boom and now because of the Start Up India mandate promoted by the government. With large investments flowing in & valuations soaring, people’s risk appetites have increased phenomenally. Everyone has an idea, which they believe could be the next best thing on this planet. Very few of them go right up to the finish line, though! Autopsy has curated a list of failed startups and the reasons for failure. Read it here.
Gargi Shah, seasoned entrepreneur and founder, The Playce, believes that it is critical to detach yourself from an idea and view it objectively before taking the plunge into entrepreneurship.
She delves into the practicalities of starting up, especially when you are cushioned by a comfortable, well-paying job which takes care of your bills. Gargi says, “If you have an idea in your head, really, wait – because that idea sounds exciting. You may want to start that café, you may want your own pop up cake studio, you may want to start your own photography workshops – but hang in there, it is not going to be easy.”
The idea seems exciting because you have not dipped your fingers in the muck. The moment you snap out of your job in order to pursue your dream, it may be glamorous initially, but if your passion for your idea does not withstand the test of time, one may wonder if it was at all worth getting into it.
Gargi Shah’s advice to the young entrepreneurs-to-be out there is simple and practical. She believes that one should reflect on the merit of one’s idea and spend enough time evaluating the pros and cons of starting out. Most importantly, list out the 3 big reasons as to why you are starting up – simple, right?
Not really. You may have to sift through the chaff in order to arrive at the three biggest reasons which motivate you to get out there and build a company. Reasons which will keep you going when the going is tough; and enable you to sit back and reflect at the progress you’ve made and the long arduous road ahead.
In her own words, “There will be days when you don’t know why you are in it, when you want to quit. It helps to go back to the basic fundamental reasons which you listed out right at the start.”
If you are a startup founder, what are your reasons for starting up? What keeps you going in your darkest days, your toughest times? Let us know in the comments below.
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