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The fear to start implementing the idea once it is fully documented

I am very new to the rodinhoods but i have been following the rodinhoods from over two weeks. During this span, i have read lot of excellent stuff posted by rodinhoods. And, that’s why i decided to post the issue i am facing. 

I have been trying to be an entrepreneur from a long time but have never succeeded. I got some ideas (I won’t call them excellent since i never actually implemented them) coming in my mind way before i saw them really being implemented in front of my eyes. This doesn’t mean i never made business plans for them. In fact, for quite some of them i did got accolades too (e.g. regional winners in SGEC 2012).  However, I never got guts to implement any.  More than guts, I personally feel that it is because I don’t know how things are to be taken off once the idea is fully ready without getting lost in too much details. I know there is an opportunity in market for product (based on market research done), but when i see how the final product will look like, i feel the fear that the product will be rendered needless by customer. 

I will be really helpful if someone could help me in any manner here.  Be it any book suggestion, a phone call, or a personal face-to-face meeting. 

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  1. Profile photo of Raju Pawar

    Read the following books in this manner ONLY: (No option for you to change, believe me. I have experienced it)

    1. Atlas shrugged

    2. High Performance Entrepreneur

    3. How to win friends and  influence people

    4. Action! Nothing Happens until something Moves

    5. EntreLeadership

    6. Rich Dad Poor Dad

    7. The E-Myth revisited

    8. $ 100 start up

    You must read in the order I suggested. If already read then read again as study books in business point of view. Keep dictionary.

    Stage 2:

    Later attend a 3 month course (only on Sundays) “Lakshyavedh” in Mumbai or  like “Pathik” or similar reg How to achieve your goal. Success can be achieved in a calculated way. (MUST)

    Stage 3:

    Later join “TiE.org”  near your city. (MUST)

    Stage 4:

    Find at least 2 mentors. Do not proceed without mentors. (MUST)

    Stage 5;

    Generate your self money anyhow. No loan etc (which you can happily loose in business in case it does not sustain)

    Stage 6:

    You will know what is lacking in you to break the inaction. START ANYHOW. Irrespective of whatever you gained or confidence.

    Regards,

    Raju Pawar

  2. Profile photo of Aman Jha

    Hi Achin,

    I’d like to talk to you over phone.

    Just a friendly discussion.

    About me: I help startups with operations and setting up processes.

    Regards,

    9892621090

  3. Profile photo of Natwar Maheshwari

    Hey Achin,

    I will be happy to speak to you over phone or even meet you in person (if you are in Bangalore) 

    My number is 8197066560. Feel free to call anytime 🙂 

    Natwar

  4. Profile photo of Achin Gupta

    Thank you Raju and Aman for your replies.  

    Raju sir, I have read some of them but as you mentioned, I will start reading them in the sequence as you mentioned. 

    Aman, I will contact you soon.  Could you please let me know any preferred timing for a call?  Weekend?

    I also found an interesting open course that rodinhoods may like:

    https://class.coursera.org/bigidea-001/wiki/syllabus

    Thanks

    Achin

  5. Profile photo of Aditya Kulkarni

    Introspect, analyze. You need to cultivate an ‘independent self worth’, which in turn would increase your ‘expectancy of success’ for every small task that you take up, slow and steady one step at a time.You will figure it out buddy, hang in there.

  6. Profile photo of Rishi

    I know the feeling/phase before taking the dive, have been there!

    Short answer: The only way to figure out “something” in startup world is by doing it and learning as you do it.

    Long answer:

    #1. On Ideas: Don’t wait till you come up with “the best” or “different” idea. Chances are every idea you come up with is already being done by some or other startup in some fashion or other. Startups take time to materialize, more than you’d imagine. It’s okay to be working on similar idea (someone else might be doing) as long as that is what you really want to do…because it takes at least 2-3 years to actually see if something you (or the other startup) started works or not, or to get a “product market” fit. A significant majority of startups give up in first 2-3 years. Also, chances are you’ll ditch your first idea or make a significant shift from what you began with once you start (with in first year of starting up). Having said that, don’t just do it because you “feel” like doing it. A good litmus test for an idea to start with could be something that you’re willing to give at least 3 years of your life with an assumption it WILL fail. 

    #2. On product: If you “fear the product will be rendered needless by customer”, just talk to customers. If it’s something you’re comfortable sharing, you can simply post it on The Rodinhoods or facebook or <insert here> and people will provide inputs/feedback. Talk to other people who are in that industry. Don’t always look for validation — at the end of the day you’ll get tons of advice if you ask for it, and most of it will be worthless — it’s you who needs to figure out what makes sense.

    #3. On business plans: Business plans in case of very early-stage startups are only good to the point they let you think in a structured manner. Rather than business plan, once you decide to work on an idea, come up with an execution plan for 2-3 years. How much will it cost, when/how do you see money (revenues or investment) coming in, what are 2-3 metrics you should be tracking on a monthly basis..these metrics should let you determine whether your idea’s working or not. (My suggestion: stick to monitoring cash-flow, very high-level revenue/investment timing, hiring plan (numbers, skills, and timing), and product/service build/delivery and go-live timelines). The first version of the plan you come up with WILL turn out to be wrong within first 6 months of starting up, so don’t spend a lot of time on details and accuracy, but come up with a structure you can update and monitor easily on an ongoing basis.

    #4. On reading books, stories, attending “startup” courses (I’m not talking about GOOD accelerators or incubators): My personal view — Your time as a founder is limited and extremely precious. I’d rather focus on building something than reading books, attending courses etc. Reading is great, but don’t let that be a pre-req. to start doing something. You can read stuff even when you’re building something.

    #5. On mentors: It’s easy to find one, but tough to find a good one. Try to find someone who’s done it before.

    #6. On everything else: You WILL hear a lot of “rules” on how startups need to be done (e.g., # of founders, funding etc.) Feel free to break all rules if that is what works for you. It’s not easy trying to get a perfect alignment with all such stupid “rules” and it’s very distracting to founder(s). You’ll be working with so many constraints already by the time you decide to startup, so don’t let yourself impose more because of these additional things people and media say.

    P.S Excuse typos and grammar.

  7. Profile photo of Aman Jha

    Hi Achin,
    You can call me between 11am to 10pm on ant day of the week.
    Regards

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