Mr. Kiran Karnik, former President of NASSCOM, speaking at recently concluded NASSCOM product conclave had given 3P Mantra for the Product Startups. Following are the details.
Patience:
It's said that patience is a virtue and this certainly holds true in practice. It is even truer in this fast-paced society where rushaholics and hurry addicts are in the majority and companies seem to believe that faster is better. Although patience is sometimes mistaken for sloth, it's the patient ones who are the most effective time managers. They tend to think things through before they act and focus more on results than activity. Following are the few characteristics of patient enterprises.
1. Patient companies fully intend to accomplish all their goals but they don't expect it to happen overnight. These companies recognize that time is their ally, not their enemy, and that all goals can be accomplished, given a realistic time frame. They will not hurry to go to a VC or taking the company to public.
2. Patient enterprises are not thrown off balance by momentary delays. These enterprises utilize idle time by working on other tasks or new innovations.
3. Although patient enterprises utilize idle time and waiting time rather than get frustrated by the delay, they seldom perform two activities at the same time if both activities require their attention. So they don't do sales on a marketing platform.
4. These enterprise plan before they act. Consequently they make good decisions, wise choices and sound judgments, achieving above average results.
Persistence:
Know that persistence is the name of the game...and plan accordingly.Those entrepreneurs that meet success do so because they had the ____ to push and prod and coddle their business into existence.
They found a way to keep their business moving forward in a strategic and precisely aligned manner. If something wasn't working for them, then they changed the way it was done. They looked at their business from many angles and found a way to proactively design their business to work the way they needed it to.
"Energy and persistence conquer all things."- Your Entrepreneurial Predecessor, Benjamin Franklin.
It is very important in sales. Today’s “no” doesn’t mean, No forever. You have to keep calling your prospective to customers. It is better to revisit your sales tracking once in a month and give hello calls to everyone in your list.
Passion:
Passion but passion is most important for every entrepreneur. Passion is a beautiful thing. Passion is what keeps you awake at night because you are so excited about what you are building. Passion is what makes you work on weekends. Passion is what blinds you to imaginary hurdles. Passion is what makes you deaf to destructive criticism. Passion more than makes up for lack of money. Passion attracts talent. Passion attracts customers. Passion brings pride in what you are doing. Passion sells your product. Passion sells your dreams. Passion makes you think differently. Passion makes you less greedy. Passion is what helps you get up after a bad fall. Passion is what builds great companies. Passion is the only hope for a startup. You can right lot about PASSION.
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