#RandomReviews — Read with your eyes open — It’s a screw tightening experience
— : Learnings from ‘dream with your eyes open’ book by Ronnie Screwvala : —
I have started writing this post as a review for Ronnie’s book, and later realized that I should not undervalue the book by ‘me writing the review’ for it. When NAMO himself has written valuable notes on the back cover — I am no one to write a review of the book. I re-titled it as learning from the script. I would say this is a must read for all entrepreneurs and wanna-preneurs (those who want to be an entrepreneur). Once the smart phone market has shown the possibilities and opportunities of the connected world, there is a mad rush — everyone wants to be an entrepreneur. Young India is leaving their corporate job and getting out starting something on their own — selling online, aggregations, filling the voids, solving problems, connecting the disconnected are some of the most abused genre that we see these days. Ronnie being previous generation entrepreneur, there is lot that he has to say in a traditional way, which most of the time the new gen might overlook. I am trying to put some important learning from his book. If you are wanna-preneur this is bound to tighten the screws.
Your background does not matter as long as you have a can-do attitude
Socio-economic history, city of origin, family background, has no meaning when it comes to entrepreneurship. You need to do an honest assessment of yourself to know that if you have it in you and there is no right age for the same. Try early and fail early is one of the best testing paths one can choose.
Don’t declare motor strike — when opportunity comes onto you at 100 km/hour speed
Ronnie used a different language in his book. When opportunity knocks, answer the door. Many of young generation entrepreneurs’ delays there decision makings and growth plan to perform a better homework or research. The time taken for this could potentially be an opportunity lost. Many these days have concept and idea — they expect an angel or VC to look at them before they make a start. You can actually build a billion dollar enterprise starting at a Zero capital.
Communication does not need teachers
It is a vital ingredient of success. Communicating/responding on time helps in creating a transparent, open, frank, non-political, non-hierarchical organization. Good ideas are everywhere — it can even burst out of clear sky — keep your eyes and ears open. Stay up-to-date. Stay focused — ‘Multitaskers’ runs on a risk of letting their attention getting split.
Let your outsider status be your strength
When you are getting into something that is not your core strength, it is often take as weakness. Embrace this status, be quick learner and even sharpen your listening hormones. Build a team that compliments on your weaknesses, yet challenges you. Please note being outsider, lets you to ask the stupid most questions …
Crash conventions — Fix it even if it is not broken
Innovation and disruption don’t amount to acting rashly with false sense of urgency; nor do they signify change for the sake of change. Every day is a new day to look at things afresh and question the constant. The trodden path is never easy, be prepared for to slog for weeks, months even years before you taste the first spoon of success. Ensure to capital on talent and your customers.
Be brutally honest on your self-assessment — starter, grower or a scaler
As a leader you must be clear what is your strategy? Use it as the multiplier while scaling up the business. Economies of scale can be achieved only by a super-efficient execution. Scale is reality only if you are looking forward, not in the rear view mirror. While this chapter seems to be pushing for scale, Ronnie wrote few lines about differentiation as well. He urges the new comers to respect the fact that boutiques and specialists exits and they too excel. People do pay different price for business and economy class even though their destination is same. Vision and velocity of scale should come from you as leader — at each level of scale — you and team must be focusing on the customer — this is not a best time to delegate or multi task. You must be doing what is your job while scaling. Inflection points needs to pursued correctly and acted up on.
Failure is comma, not a full stop
At some point of time you are going fail. Not just once, but in multiples. What is your plan at fail? Most of your critics have never created or built anything, nor will they understand the challenges and the great satisfaction of steering a ship to its destination. In the 21st century its al right not to be right first one to hit an idea, take second or third position. In the next decade more books will be written about ‘how I failed’ than ‘how I succeeded’. What matters is only how do you introspect and learn from your commas.
Because truth gets buried under an avalanche of bullshit
Your ability to spot trouble in advance is critical to save time, energy and grief. If a working relationship gets spoiled because you are following your convictions, then let them, as most of the time truth gets buried under an avalanche of bullshit. You need to know when to pivot and walk away. There is no substitute for knowing your business acumen and commercial savviness.
Get provoked to confront and conquer the myths of inequality
World is not flat, who cares!!! . Luck and Inequality is two sides of a coin. When you have that coin in hand, throw it as far as you can and walk away; Now that you have started building your dream, you don’t need it. Drawing comparison with others (as inequality is given) only distracts you from being focused. Just take it as a challenge and move on.
Exit don’t require a strategy
World is not flat, who cares!!! . Luck and Inequality is two sides of a coin. When you have that coin in hand, throw it as far as you can and walk away; Now that you have started building your dream, you don’t need it. Drawing comparison with others (as inequality is given) only distracts you from being focused. Just take it as a challenge and move on.
This is the first book, I have read with FAQ section at the end. The book answers most frequently asked questions as a post-face of the book.– some of the trvial questions that are answered in the book are …
How to attract? Motivate? and retain top talent?
How do I handle a situation where business is growing up where as my loyal core team is not scaling up?
How do I find a mentor? How important is to have mentor?
Startup means NO work life balance — how do I balance it?
How important is a co-founder? Can I have more than one? Startups means NO work life balance — how do I balance it?
What does it mean by ‘Value Creation’?
How important for me do management studies or post-graduation before I start my business venture?
What is right balance on what to and what not share to VCs and angels??
My dear wanna-preneurs, If not all — read at least this section of the book
Best Regards — Anu Sadasivan
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#RandomReviews is a hashtag that I started pursuing — voicing out my personal opinion about my experience with anything; It could be a book I read, a movie I watched or a car I had test-driven. This is has no intention to promote/demote the work/product, its just a personal view.
