I was on a short vacation last week to attend a family wedding. On my return, I came to know that one of my well known contact decided to quit from his job of CEO. I immediately called him only to pleasantly get surprised that he was thinking about contacting me and was looking forward to meet me. Of course he was warmly responded by me and I started looking forward for our meeting.
Being employee turned in to an Entrepreneur, I realise that such decisions are never easy. More so ever, to leave a CEO level secured and fat paying job of top Indian company and calling a quit, has its own challenges, hence I was very keen to know about his plans and to find out, if I can assist him in any ways. Eventually he came in today to meet me at my office. We quickly got onto business and wherein he shared his vision and thoughts on his new business with me. We spent some good time today and which could only end with delicious Neer dosa in a neighbouring restaurant.
1. If you are planning to build a business which is going to take establish players head on, prepare your self first. Preparation time advised minimum 3 to 6 months, if not more.
2. Prepare a list of all possible questions which your client is going to ask about you and your business and standard answers which you are going to give. Your answers can turn objection into opportunities. People have known you as an employee who delivered on the strengths of an organisation, now they want to know what you are, do you have capability to deliver and would you last or have sustainability?
3. Don’t mess up with your soft targets when you are about to start or during your initial pitches and when you are yet figuring out for answers. Save them till the time you have a perfect plan ready with you. Usual tendency of most of the people is that they first approach their contacts hoping to win business only to realise that their unpreparedness have cost them to lose on golden opportunity to kick of the business.
4. Do mental preparation of your family (wife and kids). They might be aware that you have decided to be an entrepreneur but do they know what it will mean to their life and initial struggle it will bring in for them? Prepare them better to allow you much needed support and peace in your quest.