12 Lessons Learned: A Decade-Long Entrepreneurial Journey of Atlas SoftWeb

Entrepreneurship is a path less traveled, fraught with challenges, but bursting with opportunities for growth and success. With the help of seed funding, mentor advice, and government initiatives, many start-ups reach the heights of success.

However, a majority of them fail to succeed and fade through by the third year in business. This is due to a lack of the right landscape required to nurture their ideas.

I started my entrepreneurial journey back in 2011 and it's been 12 years of a roller coaster ride. There have been several ups and downs and unpredictable challenges including the global recessions, demonetization, Goods and Service Tax implementations, and the dreadful COVID-19 pandemic.

As Atlas SoftWeb Pvt. Ltd. celebrates its 12th foundation year, here are 12 important learnings I would like to share from my journey:

• Resilience is Your Greatest Asset?

An entrepreneur's journey is never easy. Each day brings new surprises and challenges that do not have a case study to refer to. Entrepreneurs witness economic downturns, market shifts, and personal setbacks. Learning to bounce back from adversity is a skill honed through experience.

• Adaptability is Non-Negotiable

Nothing is constant and businesses evolve. Policies and decisions taken a year before would likely be obsolete in the next couple of years. This does not mean that you were wrong back then. So, Change is inevitable and Adaptability is the key to survival. The ability to pivot, reassess strategies, and embrace new technologies or trends is essential.

• Creating the Landscape - Time, Space, and Delegation

An as entrepreneur, it is important to create a landscape that helps your business thrive. This cannot be done alone and needs a team around you that carries your vision. Giving space for each of your team members to explore, experiment, and execute policies to achieve your organization's goal within a stipulated time is the key to your growth.

• Failure is Part of Success

In this process of creating the landscape tough decisions need to be made and as an entrepreneur, one should not hesitate in doing so. I can tell you that an entrepreneur is not always correct and not all his decisions are correct. Failures do come but they are part of success. However, learning from mistakes and taking corrective measures timely would result in minimum damage and maximum growth.

• Network Wisely

Entrepreneurial life is all about networking. You need people, resources, clients, and employees to grow your business. You should interact with everyone but build your close network wisely including the ones who fit in your entrepreneurial goals. As a famous proverb goes - a rotten apple spoils the whole barrel. Having the wrong customer would give you nightmares and having the wrong employee would hamper your productivity, service quality, and credibility of your business.

• Customer First, Employee Second, Management Third Approach

I have loved reading Employees First, Customers Second: Turning Conventional Management Upside Down by Vineet Nayar and it inspires me a lot. And I strongly advocate that in any business and as an entrepreneur, you must put your customers first and employees second. Management and profit come third. This is the pathway to entrepreneurship's success.

• Financial Acumen is Fundamental

Financial Acumen helps businesses to make informed decisions, allocate resources effectively, and navigate the complexities of the financial landscape. With a solid grasp of financial principles, businesses can plan for growth, manage risks, and optimize their financial performance.?

• Team Building is a Must-Have Skill

Team building must continuously develop and refine over time. A cohesive and motivated team can be a driving force behind a company's success, fostering collaboration, creativity, and productivity. The process of team building involves not only bringing individuals together but also nurturing their abilities to work harmoniously, communicate effectively, and solve problems collectively.

• Innovation is a Lifeline

Innovation stands as the lifeblood of businesses in an ever-changing economic landscape. The proverb "evolve or go extinct" underscores the pivotal role innovation plays in a company's survival and growth. Today, being at the forefront of innovation is not just an option but a necessity for long-term sustainability and success.

• Time Management is Critical

One of the invaluable lessons learned in the world of business is the key role of time management in driving growth. It highlights the importance of not just working hard, but working smart. Making the right decisions at the right time enables steady progress.

• Embrace Technology

Embracing technology is not just a choice but a necessity for a business like Atlas. In a constantly evolving digital landscape, staying at the forefront of technological advancements is crucial to delivering cutting-edge solutions to clients. It's the key to innovation, competitiveness, and the ability to create websites and applications that truly stand out.

• Social and Professional Balance is Key

Balancing social and professional aspects of life is essential for individual well-being and fostering a harmonious work environment. It allows individuals to recharge, build strong relationships, and bring fresh perspectives to their professional endeavors. This equilibrium is a cornerstone of holistic growth and productivity.

In a nutshell, my 12-year entrepreneurial journey is a combination of perseverance, adaptability, and personal growth. These lessons have served as the foundation for my thriving business and a fulfilling entrepreneurial life. As an entrepreneur when you navigate the challenges and seize the opportunities presented during this journey, you emerge not only as business leaders but as individuals who have evolved and enriched your life through the pursuit of your dreams.

Mr. Royson Rajan,

Founder & CEO

Atlas SoftWeb Pvt. Ltd.