Where Am I ? This is where I stopped last week
I think that will wait for now and it is not important.
If you have followed this journey thing for three weeks, I would like to give you an actionable checklist for bearing with my ramblings.
This checklist is applicable for the working class people, who have spent possibly around a decade in the industry and are contemplating a jump into entrepreneurship.
- Have you discovered your why ?
- Is your why positively framed ?
- Are you debt free ?
- Have you informally assessed with your family, friends, peer network, mentors and bosses?
- Do you have a reasonable understanding of your strengths?
- Do you have an estimate of your current monthly burn rate?
- Can you scale down personally from your current life style?
- Have you decided on the timeframe that you will give yourself?
- Do you have enough in your bank to sustain yourself for the timeframe that you have given yourself?
- Do you have any big outstanding family commitments?
Let me possibly give you a twitter like explanation for each of the above
Have you discovered your why ?
Entrepreneurship is a deeply personal journey and this will keep you away from the dilution of focus. from the hundred other things that will crop up. It is important for you to discover your “Why”.
Is your why positively framed ?
Entrepreneurship is about positively framing your “Why”. Kindly note I am not talking about your “Idea”, but you framing your “Why”. You should not consider this as a escape route. It is not. It is more of a black hole.
Are you debt free ?
Simply put do you have any EMI’s. If you have , you need a plan to close them. Period.
Have you informally assessed with your family, friends, peer network, mentors and bosses?
This is your support group and you will need continue to need this support group. It is important to have this dialog with them and in this dialog it is important for you to understand what they are “not” saying.
Do you have a reasonable understanding of your strengths?
There is one thing inside all of us , in which we are better than everybody else. It is important that you have a grasp of it and call it to play at will. Do not spend time fretting about your weaknesses. Operate on your strengths.
Do you have an estimate of your current monthly burn rate?
Is there a sheet where you map your current monthly expenses and annual recurring expense. This can come as a surprise when you make it. The one I made is here for your reference and that shocked the heaven out of me. Before you go out to make a dent in the universe, take care to see the projected dent in your pocket.
If you skipped clicking the link, go back and save it for your future reference.
Can you scale down personally from your current life style?
Do you have what it takes to live out of a suitcase ? Have you tried that. It might be a good idea for you to just take hundred rupees in your pocket and spend three full days on the road in a city of your choice.
Have you decided on the timeframe that you will give yourself?
It is important to be honest to yourself and give a timeframe in which you will be able to measure yourself against the outcome you have set for yourself.
Do you have enough in your bank to sustain yourself for the timeframe that you have given yourself?
This is simple maths. Your monthly commitments multiplied by the time frame that you have given yourself.
Do you have any big outstanding family commitments?
Depending on your circumstances, you might have some commitments. It might be that dream house for your parents in their hometown, a sibling’s marriage or any other thing that you possibly need to take care of. Pay attention to that.
Did I scare you?
Am I discouraging you ?
Am I warning you?
Am I giving you a safe approach which is counter intuitive ?
Doesn’t constraints create creativity ?
But the checklist is a means to plan ahead and help you focus your complete energy on your “Why”, rather than you becoming creative every month.
If you take the current climate, popular and contemporary media is biased heavily towards entrepreneurs and entrepreneurship.
I think entrepreneurs and entrepreneurship should be celebrated.
However, I would like to also emphasize that there is absolutely no need undermine your current value and blindly worship entrepreneurs or entrepreneurship. In your current position, whatever that might be, you are delivering significant value to everyone around you and I would not like you to ignore that. You should celebrate yourself for where you are at this moment and pat yourself for getting there.
If I have to summarize in two sentences , the essence of everything in this ramblings for the last four week, it simply boils down to
- Entrepreneurship is a choice. Make your choice and hold yourself responsible for exercising that choice.
- Maintaining and Improving upon your status quo is a choice. You have taken pains to get to where you are and do not let popular opinion sway your sense of self worth. Acknowledge, recognize and congratulate yourself on that.
There is no glory or shame in either of these choices.
In the long run, all you would possibly like is two words on your grave.
I do not know if you have enjoyed this or not, but I wanted to trace out my journey of “Why” and that ends here.
Trust it has given you a sense of evaluating yourself and helps you to navigate your inner compass.
The next series shall be less philosophical and I shall write about “The Idea”.
Once you have an idea, what do you do with it or in other words ‘How do you get the rubber on the road’. I am aware that there are better people than me who have done that, are doing that. But yet again it shall be about sharing my own experience.
Enjoy Maadi. (Have Fun)