What are some tough decisions to make in a start-up journey?
On this week of writing, I have decided to think and list out some of the most important decisions that I had to make in my journey founding Invigilo. Last week, I was discussing with a friend of mine, one of the few who had seen me from the very beginning of the journey till now and made me realize that some of the decisions I have taken are things worth mentioning. It might help aspiring founders or anyone that might need it, make a better decision. One that is based off intrinsic thoughts and values rather than extrinsic pressures.
The first decision I had to make which most would need to make eventually would be to commit working full-time on the start-up venture. I believe in committing my 200% into anything that I work on and having the ability to work on the venture full-time is very important to me. I decided to move on from my first full-time job and work on Invigilo, about 3 months into the conception. I made this decision based on a few factors, which is basically my financial capability, passion in the product, resources needed for the start-up to succeed and the maturity/stage of Invigilo. These could be some things to keep in mind before thinking of dropping a full-time, stable, and well-paying job. But I urge aspiring entrepreneurs or those who lack motivation to take this first bold move of getting out and looking for a fresh change!
The second decision which most might need to make is to shortlist a few people who you would want on the journey with you, and also what you place priority on in choosing these initial people, or the founding team. There is always two types of people that you can usually choose from: 1) Those with a lot of experience and necessary skillsets. 2) Those with really strong values that align with yours and also have a similar vision for the start-up. It’s always a misconception that the first option is the better choice, but it’s not always the case. The founding team typically has to be one that is very aligned and passionate about the project. Technical skills and expertise can come in later when the team starts to grow, and the product needs more refining. Always remember to think carefully when it comes to making this decision.
The third most important decision that one might need to make is to cut time from some of the other less important things in life. Time management and prioritization becomes very important when it comes to starting up a new venture. There might be a couple of things which one might need to give up and allocate this time to the start-up. For myself, it meant a couple of things, changing some of my hobbies, cutting off some toxic relationships if any, and also sadly to say losing out on fitness activities. However, to each their own, and I am sure that if I had managed my time properly, I wouldn’t have needed to give up many things. However, I still believe that this would be one important decisions that you have to make in the journey. Knowing what to stop and what to start and how to better allocate your time.
In summary, starting a new venture requires you to make many tough decisions. The ones listed above are some of the few that I had to make, not excluding giving up my master’s degree offer in my dream school (UC Berkeley) as well. However, it will all be worth in the end or things always happen for a reason. Knowing when to commit to your venture fully, understanding who are the key people who you want in this journey, along with making a few sacrifices to your existing life is important to the success of the start-up.
I hope that this article has helped you!
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