Pulling the plug

Now since am chugging along the path of becoming an entrepreneur (successful or not, only time will tell), I have decided to map my journey by sharing articles on how I feel about this whole process of transition of transformation.

I’d like to start by talking about how hard it was for me – to pull the plug from my daily routine and just get into starting-up.

Am sure a lot of us have thought about starting up at some point of time in their lives. Some have already crossed the line, some maybe in the process and some decided not to (prudent call perhaps).

I’ve been through this process of maybe/ maybe not, quite a lot of times myself. Have had countless of ideas that I’ve myself drained down for numerous reasons. Reasons sometimes as silly as – aah, this idea may not be liked by many, I don’t have a team yet, why get into the hassle when am getting a decent pay-check, what will my parents think about me becoming a gardener, no one will marry me.. etc.! Each time I did so, I only grew regret and discontent within me. More so when I realised others tapping into those ideas and turning them into million-dollar businesses of their own.

One that I regret killing the most is that of ‘campus-hustle’. It was to be an ERP tool for colleges that’d allow interaction of college admin, students and teachers on one common platform. Here’s a snapshot of what I was about to create with my small team of 3 people some 6 years back.

Slide1

Slide2

Slide3

I killed it only because I felt that there were many small players doing this back then and no one would be interested. But we all recently heard Charan (Stumagz) talk about Richard Branson being interested in such a platform (of course with bit more sophistication of blockchain thrown into it). There are many other bigger and more established players now in India, only because they saw the gap and went deeper.

I took all of this is a life-lesson and realised that:

  1. There’s always going to be a job that can give you more than what you are getting right now (don’t hold me for this statement as the CAC lead).
  2. There’ll always be someone already pursuing your business idea somewhere (cos you aren’t the only smart ass in town!).
  3. There’ll be always people telling you – dude, why do this, it will never work.

But you just got to do it at some point.

Hence, I did decide to pull the plug for my own sake. To begin with I first explained by idea to my wife and parents and they were all extremely supportive of me pursuing this on a full-time basis (to my surprise). I felt really good and confident about myself with all of them by my side. Next, I found an excellent co-founder in one of my own class-mates (Amit) who too is willing to take this up full-time, has the go-getter attitude, relevant background and skillsets complimentary to mine.

In order to remain steady in my head, I also decided to tell about this to all my friends and family – this not only helps with the marketing but also creates that social pressure of ‘you got no other option – if you quit, way too many people would think that you are a quitter” – learnings from Management of Organisation course – declaring socially.

So this time, I just have to do it.

Some may say that it is a risky call to have left my job before this reached a certain stage but my take was that the phrase “don’t put all your eggs in one basket” had made me highly risk-averse and all the analysis that I had done for my past start-up ideas had resulted in a situation of paralysis. I’d just like to follow my instincts this time.

Needless to say that am pretty anxious and scared of my call – this better work! 😀

linkedin, social icon Setu Goyal

Advertisements