Think Big, Start Small

If you ain’t got dream you ain’t an entrepreneur. Entrepreneurship is all about the passion to change the world, to create something that has never been created before, to make it big… And yet, the vast majority of startups fail precisely because they get carried away by the romance of entrepreneurship and do not distinguish between the long term goal and the short term steps that need to be taken to test and re-calibrate the way to get there.

In almost all successful startups, the idea in its mature form is very different from the initial concept which fired the business. Smart startups realize this upfront and do not burn all their cash on their first or second or third approach. They start with small steps to test the viability of the ideas, and take the plunge only after they have tested the waters.

Conserving cash is key. So till you get some validation, try to keep fixed costs low. Keep the variable component of salaries high, scrounge on infrastructure, stay lean and mean. The hunger you develop will keep you going till the pot of gold at the end of the rainbow!

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