- Ideas matter very little – it is all about execution. Some of the greatest companies were built on trite & simplest of ideas. So, when you start a business, don’t be discouraged that others have that idea too. Just focus on how many of them are executing it – chances are that none of the incumbents are executing it awesomely.
- Entrepreneurship is not a hobby nor something you do on a vacation – it is a way of life. It is not a one-night stand but a marriage. Plan to stay on it for the very long term.
- Failure is a given and every entrepreneur must go through that ritual. And just like night & day, there could be cycles that you cannot control. So, don’t be too hard on yourself and always look for opportunities. You work years to be called an overnight success.
- No work is too low as long it is legal. You think sweeping the floor and calling up customer is too low for your “CEO” title? Entrepreneurship is not your cup of tea. If you do it the right way, your janitorial business could be as great as a business designing tablet devices.
- Look to change the world. Always question the status quo – don’t take it as a given. Constantly look for opportunities to disrupt.
- Money is an essential byproduct to a great businesses, but is not everything. Fundamentally your focus has to be on adding value. If you add value, money will follow.
- Marketing is not about conning the customer into giving their money. It is the foundation of a business – where you develop the right product at the right price for the right market. Marketing has to be at all levels of a business.
- Every customer is equally important – whether he pays Rs. 10 or Rs. 10 million. Every customer deserves respect and service.
- No employee is inferior to an another. You might think the guys in C suites are important than the janitors. But, the janitors could make your company stink more than your CTO. Give every employee the respect & treat them as equals – even if there are different payscales & incentive mechanisms.
- You can never grow big enough to warrant your arrogance. Be the founder whom the employees could approach and talk to easily. The larger you grow, the more humble you have to become. The greatest guys of the last millennium - Albert Einstein and Mahatma Gandhi – were the most approachable and humblest persons.
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