It's the journey, Founders!

Founders need some early success in their pursuit. Those early successes are more of a validation and less about where that would take them. The journey ahead is full of rollercoaster rides, many ups, and many lows too..

However, none of the ups should throw you out of the ride, or you drop at the low.

You seek to learn from these rides and keep building a great journey.

This week, while listening to a few podcasts, I found these gems:

find joy in the journey itself, not just the end result

Growth as a Way of Life: Some individuals inherently seek growth and find joy in the journey itself, not just the end result.

Entrepreneurship as Giving Back: Viewing entrepreneurship as a means to contribute positively to society, rather than just for monetization.

Addressing Hard Problems: Engaging in discussions around challenging issues can significantly impact an entrepreneur’s journey.

Source:??        

Risks, Growth, and Ethics of Entrepreneurship | Kunal Shah & Mukesh Bansal

And there are super inspiring gems here:

the journey is important, not the destination

"I enjoy doing my job. And for me, the journey is important, not the destination. So that is the way we take it."

"During the journey almost... I was bankrupt four to five times. The first bankruptcy, or rather close to bankruptcy, was scary. Scary. But once you got through that, the second one, the third one was not scary."

Chandramogan's success was driven by principles of frugality, resilience, and compounding. Despite his company's substantial revenue (over 7,000 crores), he maintains a humble attitude, once stating that he doesn't consider himself a billionaire and that his only asset is his house.

First to digitalize payments to 4 lakh farmers in 2015, far before UPI. Forced to innovate as cash handling became difficult.

>7000 crores revenue (INR)

4 brands

a founder for over 5 decades now, having launched his venture in 1970.

Source:??        

https://blume.vc/podcasts/blume-podcast/r-g-chandramogan-from-ice-cream-carts-to-dairy-dominance-the-hatsun-agro-journey

Play long-term games with your startup to let the power of compounding work for you.

That's by Morgan Housel! If you haven't read Morgan Housel's books and blogs, do follow him:

https://collabfund.com/blog/ & https://twitter.com/morganhousel

Rajan shared a fantastic compilation of Morgan Housel

Source:??        

https://docs.google.com/presentation/d/1NnMsonVVRWaOMNl38TJBBcO10ROkiqsT20maJ-PDzyI/edit

I compiled to derive key points in plain text version:

Morgan Housel's insights that could be particularly valuable for startup founders:

1. Different Goals, Different Gazes:?Remember that every startup has different goals and different strategies to reach those goals. What works for one may not work for another.
2. Belief Leading to Behavior:?Your beliefs about your venture will shape your behavioral patterns, which will in turn define the outcome of your startup.
3. Don't Compare:?Each startup is different with unique timelines, rules, and objectives. Avoid comparing your startup's progress with others.
4. Upsides Come with Downsides:?If you're aiming for high success, be prepared to handle high-risk situations and failures.
5. Luck and Risk:?Even the best decisions might lead to bad results, while seemingly bad decisions might result in good outcomes. Manage risk wisely.
6. Not All Success is Due to Hard Work:?Keep in mind that the world is complex and not all successes are directly proportional to the amount of work put in.
7. Risks are Unseen:?Be aware of the risks which are not immediately visible. Before considering the benefits, assess the potential downsides.
8. Patience and Time:?Play long-term games with your startup to let the power of compounding work for you.
9. Be Long-Term Optimistic but Short-Term Pessimistic:?Focusing on long-term goals while addressing short-term challenges helps you prepare your startup for success.
10. Adapt with Time:?Embrace a mindset of adaptability, taking learnings and making changes when necessary.
11. Money's Highest Dividend is Independence:?Aim to create a startup that provides independence, not just financial success.
12. Prudence & Paranoia:?Staying successful in your chosen path requires a balance of careful judgment and a healthy sense of caution.
13. People are Reasonable:?Understand that your customers, your employees, and your investors may not always act rationally but they will generally act reasonably.
14. Don't Aim to Be Contrarian for the Sake of Being Contrarian:?Contrarian decisions should lead to value, not just to stand apart.
15. Great Products Don't Always Make Great Businesses:?A great product is essential for a startup, but it needs to be paired with a viable business model.
16. Beware Group Mentality:?Startup decisions should not be driven by the herd mentality. Avoid making decisions merely based on what your competition is doing.
17. Strong Opinions, Loosely Held:?Have strong beliefs for your startup, but be willing to adapt when the situation calls for it.
18. Every Wisdom Has Its Counterpart:?When it comes to running a startup, one size does not fit all. Always consider the opposing view or wisdom.

I must keep going

No founder's journey has been a cakewalk, and you must say: I MUST KEEP GOING

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