Starting your own business is tricky. It’s not something that happens instantly. Everybody lines up for company registration in Mauritius but not all of them make it big. Innumerable start-ups shut down every day due to countless problems of sometimes similar nature. These problems can be of financial, organizational, structural, or even personal kind.
For an entrepreneur who wishes to accomplish a lot in the little life that we have, things are never easy.
It takes a lot for someone to abandon all they have learned and developed for themselves. We all work tirelessly to create that safe space for ourselves. However, when someone decides that they are going to leave and pursue their own dreams, it takes guts. People always ridicule others and try to talk them out of it. Some do it to laugh while some do it to try and save you from embarrassment. In every scenario, you are alone. The only one who’s ever going to support you is the person you see in the mirror.
This is the life of an entrepreneur for whom everything becomes a battle with everything. Their social, personal, professional, and financial problems always pitch in to become their today’s panic and tomorrow’s anxiety.
The flow of Finance:
Being an entrepreneur is like diving in the water without an oxygen supply. Since you’ve left everything behind, the only oxygen you have is the air in your mouth. And that’s how long you can last. Similarly, when an entrepreneur burns all bridges walking out of their office, their savings is all they have.
If they won’t make it, they won’t be able to survive. That’s the gamble for entrepreneurs who risk it on a daily basis. That is until the idea transforms into something that investors and sponsors find worthwhile.
However, things don’t get easy even then. The more you grow, the bigger you become and the bigger you are, the harder you fall. Your venture can’t afford to take any financial hits or organizational problems especially when it’s sustaining.
There are more problems in trusting people to work for you than in calculating your finances. You can trust mathematics and accounting but never your instinct about people.
There’s only so much you can gather about a person through an interview. Especially when you’re conducting so many of them. It’s easy to make the wrong decisions. And as stated above, the oxygen is running out. You can’t afford to even allow yourself a chance to learn through experiencing situations. It’s not fair, but these are the cards you’re dealing with.
Even with the ideal team members, your team can only do as good as the organization, management, the motivation they get. Therefore, it always falls upon your shoulders to take up all the managerial roles at the same time. You need to come up with the perfect organizational structure with a sustainable hierarchy in mind.
Assessment and Methodologies:
If you fail to assess each department’s performance with the available resources, you will fail to achieve maximum efficiency. This means that your assessment and communication must be top-notch.
You will have to guide your team throughout. It might be a few people at first but that’s the advantage because you can’t handle a corporation right now. Your own life will have to wait aside completely as you dwell on the performance of your organization. How you handle your emotional state especially in front of your peers will affect a lot of things.
It’s imperative to add here that emotional reinforcement can do a lot for employees of a workplace. However, you can’t lose your temper no matter how much the stress of it all gets to you.
Shooting in the Dark:
You don’t know what the market is going to be for your industry; how your organization is going to survive next month; how well is the workplace faring internally and externally; when the next disaster is going to show up; whether what you’re doing is even the right thing.
The only thing you can do is try to make the best decisions with the only reliable information you have. You can make smart decisions like basing the company in a profitable country. You opened a bank account in Mauritius too because you saw the financial benefits. But it’s not over yet. You have to keep making decisions after decisions and hope it turns out alright.
Even in management scenarios, the performance of the employees and their coordination amongst themselves are times for you to lead. You can’t even begin to question why it’s happening to you, or why at this or that time. You need to be on top of every situation.