Entrepreneurship: Discovering Resilience and Your Inner Superpower

We are living in a golden era for startups. College grads are now venturing into entrepreneurship, a domain once reserved for a select few. From a roadside fruit seller to the CEO of a multi-billion-dollar enterprise, everyone embodies the spirit of entrepreneurship; the difference lies in scale. India, and indeed the world, needs more entrepreneurs. The impact of this entrepreneurial spirit transcends the confines of business. Here are some insights from my journey:

1. Entrepreneurship is Not Just Business Ownership

Entrepreneurship is more than just starting your own business; it's a mindset. It's about making things happen, whether you're running your own company or contributing to someone else's. Dreaming big, persisting against the odds, critical thinking, and people skills—these traits define an entrepreneur, but they also apply to employees within organizations. I have witnessed individuals who, through an entrepreneurial attitude, grew to become more influential than the very brands they worked for.

Like mandatory military training, a stint in creating and selling something could be immensely valuable for every graduate. Imagine the boost to a nation's GDP if every individual had this experience! Everyone should develop the mindset of an entrepreneur!

2. The Art of Delegation vs. Abnegation

Despite conducting countless interviews over decades, I still struggle with hiring the perfect fit. However, I take pride in mastering the art of delegation. Entrepreneurs often develop an obsessive focus on hyper-responsibility, seeing gaps in others' work and rushing to fix them. I've developed a 60:40 rule: expect 60% output from the person you've delegated to and be ready to fill in the remaining 40% yourself. Over time, this approach helps in training and retaining great talent.

However, there's a fine line between delegation and abnegation of responsibility. Effective delegation requires active involvement—mentoring, quality checks, and morale-boosting. One can't simply abdicate responsibilities and expect things to run on autopilot. Delegate but not abnegate!

3. Generating the Energy Within

Entrepreneurship can be draining, especially during tough times. In countries like India, just managing compliance can sap all your initial enthusiasm. Business challenges often intertwine with personal and family struggles. During such times, an entrepreneur might feel isolated and weak.

Finding a source of 'assured' energy early on is crucial—whether it's family, close friends, meditation, hobbies, or contributing to society. Everyone we see around who has been successful and persevered through their tough time discovered their secret wellspring of energy that they can return to without a quick pro quo. Find yours!

4. Pattern Sensing Superpower

Survival in entrepreneurship hinges on sensing patterns early and adapting quickly. Education often dulls our innate ability to recognize patterns, but entrepreneurs need to hone this skill. Every shift—be it in the market, competition, or even internal dynamics—signals a larger change. Dismissing these signals can result in missed opportunities or even disaster.

In my journey, working on early assignments in 'research & strategy' while running a design company, seemed like an anomaly to my colleagues. That was just an early signal. That experience laid the foundation for Turian Labs. Spotting these early signals requires constant reading and running small experiments. One must remain vigilant to both subtle behavioral shifts and major changes in technology, economy, and policy. Sense everything, read every signal. Gain the superpower!

5. Persist-or-Pivot Wisdom

Not everything will go according to plan, even with the best mentors, advice, and funding. No one, regardless of their expertise, has the power to predict every outcome. While hard work, cutting-edge technology, reliable partners, and financial resources are vital, they can't guarantee success if the market isn't ready.

The wisdom lies in recognizing when to quit or pivot. There's a fine line between failing because you didn't try hard enough and failing because you persisted in a dead-end. This discernment is not often taught in business schools or passed down as common wisdom. Having experienced this firsthand, I know that it's one of the most challenging yet crucial aspects of entrepreneurship. Know when to move on!