We at Chatur Ideas believe that in order to become an inspiring chatur, an entrepreneur should possess certain prevailing yet exclusive qualities or attributes. An entrepreneur is defined by his or her plan and an unbending perseverance to accomplish it. All the inspiring chaturs we covered in past like Sahil Barua, Dhiraj Rajaram, Phanindra Sama, Vijay Sharma, etc. Have these and some more attributes which are listed below. Although, there are several attributes that we feel an entrepreneur must possess, but out of all of them we feel these three qualities are of paramount value.
1. Be Patient, like a monk!
Imagine that your venture has kicked off and you have already assembled your dream team and your bouncing off the walls. In that excitement of starting the dream venture, we have seen many entrepreneurs stop being receptive. At this stage, you are bound to receive a lot of criticism from your well wishers, advisors and sometimes your competitors as well. Even the team that you built which is equally passionate about the business might highlight some critical flaws in your venture, the idea here is to listen like a monk with utmost patience. Listen to all the suggestions and opinions and soak through all the unimportant inputs and work on the constructive ones. It will be highly unlikely that your startup will be faultless and more you will seek consultation the more likely you will end up making a business which will grow leaps and bounds.
2. Your business plan is not written in stone
One of the most illuminating case studies that anybody can read to understand how business plans change so quickly is to read the story of Flipkart. What started off as an online platform for selling books from offline stores eventually became one of the fierce competitors of Amazon in the e-commerce segment. Even Mukesh Bansal who started off Myntra as a B2B Corporate gifting business had to pivot his business to B2C to scale up. A business plan is a necessary and vital tool for every entrepreneur when they starting their business, but it’s not time bound and will definitely be redundant after some time.
3. Have a long term vision, but act on your short term goals
In most the management classes, you are taught to make a long-term plans and projections, but it’s not close to home. Projections of a three-year plan are superfluous from the get go because the entire landscape of startup world changes every month. As an entrepreneur, you need understand and make it your daily habit of achieving smaller goals. An entrepreneur should not waste his or her time writing long plans because they are bound to change.
Our goals sometimes tend to make us crazy and underconfident sometimes when not achieved and it takes a toll on entrepreneur’s personality. It's been proven scientifically that by pursuing daily, weekly goals tends to increase the self-confidence and motivation in a person