April - 2014 - issue > Entrepreneur's Corner

Challenges and Opportunities: 4KTA

Naveen Bisht
Board Member and Chair, Programs-TiE Silicon Valley
Wednesday, April 9, 2014
Naveen Bisht
As an entrepreneur, creating your own roadmap for success can be a seductive dream resulting in bliss and happiness. The entrepreneurial success and the examples of success are one of the most talked about subjects in the entrepreneurial world. For instance, the acquisition of Whatsapp messaging mobile app by Facebook recently for a gigantic and unfathomable amount has drawn perhaps more articles and talks than anything that you may come across. This is the dream of any entrepreneur to create a service or product that can result in a mega success, not only in monetary value but also, in rapidly growing user base to a tune of multi-hundred millions globally. However, what quite often overlooked is how to handle the challenges that you run into; how do you make those tough decisions about how to stay relevant in the marketplace; when to take on more debt; when to cut costs including reduction of your talented team that you have painstakingly built one at a time or how to handle a completely unexpected economic downturn due to some natural disaster that may occur. It is never smooth sailing, so learning to thrive, staying upbeat and continuing to grow in difficult situations are essentials to your success. This can be seen as opportunity to reflect upon and correct your course or challenges that you may feel bogged down with and stress over to find ways to get out of the hole. Here are four key take away (4KTA) points based upon my own experiences, my own challenges and opportunities, should you run into these situations.

Higher Purpose

Entrepreneurs and innovators in general are happily self directed people. Having a big idea with a noble purpose can keep you think differently and beyond current challenges to imagine a more appealing future. This can keep you going during challenging times. For instance, in my last month's article on True Passion, Dr. Sarvajna Dwivedi, Founder of Pearl Therapeutics, talked about how he and his team kept on going despite some tough times including financial meltdown in market, technical delays due to one simple noble purpose of bringing breathing relief to millions of patients and improving their lives globally with their product. Having a higher purpose like this can also lift your spirits and inspire talented people to join your team.

Pay Attention to Your Gut

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