1. Passion - Passion to create a difference and the ability to stick thru the ups & downs can only be there if there is that passion.
2. Patience - Sift them many ideas, validate & then launch. Understands that this is not about spreadsheets, but real revenue & real benefits.
3. Be a good listener - Ability to listen and willingness to accept another point of view provides flexibility. A good listener is always alert towards getting insights from those who may have a more experienced view about the topic under discussion.
4. Be a good team member - Understand that you need a team, by yourself you'd be stretched to execute.
5. Leadership - Must be a good leader, understand people issues and is able to manage them thru the difficult journey. Especially managing a peer group is a serious challenge.
6. Share - Be generous about sharing ownership of the company with others who take the risk with you. Team must stay intact thru thick & thin including your investors.
7. Value, not valuation - Must be focussed on creating value & not a valuation. If one creates value, valuation will automatically follow. Remember this is not & should not be a short journey.
8. Inclusive - In growing companies, people need to be empowered to keep them motivated to deliver. Delegation and, more importantly, inclusion in the growth strategy is a great motivator.
9. Flexible and not stuck on his idea only - Entrepreneurs who recognize that things do and can go wrong are more likely to succeed. Though this seems obvious, this often is the toughest aspect of entrepreneurship if not imbibed at the incubation stage itself.
10. Understand that success is not dependent only on a great idea. Execution is equally if not more important.
- Praveen Gandhi
