Five pointers for launching a start-up

Courage It requires guts to throw away a steady career and jump into an uncertain world with no support system, where every single thing — whether critical or mundane — has to be handled by you. I believe most professionals would love to be on their own but don’t because they lack the courage to do so. 

Family Start-ups by their very nature are risky and you could go belly-up anytime soon. So, make sure that your family is fully supportive of your decision to become an entrepreneur because the social stigma associated with failure is high in India. 

Dream Dream big — it’s free and absolutely critical to success! Think with your heart and not with your mind. The mind is good for analytical thinking and making business plans. The heart will ignore the excel sheets and guide your passion in making your dreams come true. 

Power of two After you finish formulating your business plan, do this simple calculation. Divide your sales projection by two and double your costs. See how the plan stacks up and how much capital you now require. Most likely, this is what will happen. 

People Hire a strong competent team. Look for people who share your passion and commitment to the idea. Make sure their skills are different from yours. As far as possible, hire people smarter than you