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Monday, 12 June 2017

Uncertaininty-Be prepared to embrace it!


Under all the hype of launching your own start up, there are likely to be several setbacks in the process. Hence, it becomes extremely important and relevant to start off in a small way and prove your presence in the market before creating a grand hype! This makes it easy for you to adjust, learn and grow.
But, how do I prepare for uncertainty? If this is your question, the following list could help you to confront them head on:
1.      Inculcate the growth mindset: When you kick off your brand new venture, it is important to start at a premise that you can never be in total control of how things will perhaps shape up. A new set up can cause a lot of breakdowns due to several things like, lack of exposure and experience. However, it is very much in your control to decide how you choose to approach these hurdles. You either look at them as stop signs or as speed breakers.
Instead of choosing to run away from hindrances, it helps to see them as opportunities to learn and grow. This attitude of growth mindset can take you a long way forward.


2.      Chalk out different scenarios. How much revenue would you need to break-you’re your investment like in how many months or years would you want it? How would like to use your estimated investment, if received? How would you manage in case you don’t get the desired investment…? These are just a few examples of  how any different scenarios you could be prepared for depending upon the budget, plan of action, failure etc. Make up the hardest possible guesses and prepare solution scenarios.
3.      Be ready to embrace the unknown and unexpected. No matter how well you prepare, some bugs are bound to break out that twist the original plan. These unexpected events are actually opportunities one must capitalize on rather than considering it a breakdown. Only a certain excited mindset can view these as opportunities. We live in a world in which things are forever changing and no amount of planning can really accommodate what future brings. The best way to combat this is by being enthusiastic!


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