I know the journey of being an entrepreneur for a decade now. So I decided to share my 4C principle for entrepreneurs. Because I know how hard, challenging, filled with uncertainties it can be. But it also is rewarding, fruitful and meaningful.
If you are someone who wants to be on the path of entrepreneurship, this blog is for you. It is also for someone who already is into entrepreneurship.
I am a firm believer in the power of visualization. I like to see things visually before I make decisions. This habit comes from playing golf. So before we begin the key is to know is what does being an entrepreneur means to you.
The reason for this is each entrepreneur has a different purpose starting this journey. 99% of people have false hopes and no real clarity. The foundation is about knowing your purpose.
List of purposes can be wanting to making money, solving the problems in society, changing the world for better tomorrow, adding value to human life etc.
The 4C principle for entrepreneurs I suggest to follow are
One thing about clarity isn’t just about the idea. Remember there are a lot of ideas so execution is very critical. Thus, when I say clarity it means
– Define the problem statement – Understand the market size – Create a Business model – Evaluate the risks – Create a vision for the idea
I believe life is a great example that is designed around time. We all are growing year on year. Thus, it is important for entrepreneurs to define his / her business goals keeping a timeline. This helps to measure growth. Remember to sync with the calendar and draft your growth chart.
– Daily – Week – Month – Quarter – Annual
Money is a very important aspect of the business. It is about investment, expenses, and profit. This creates the need for entrepreneurs to find the angel investors who believe in their idea to invest funds to kickstart their business. Remember, this is not easy until you have other 3C ( Clarity, Calendar, and Communication ).
The founder should be able to see the cash flow for a long tenure ( like 12 months, 18 or 24 ) to ensure the plans are well executed and growth is seen. The funds should be used to create growth by getting consumers on board. This creates value in business and thus you sure you can see success in the long term. Always stay cash flow positive and be well prepared to raise funds. It takes normally 2-3 months for raising capital from structured investors.
As the founder, you should remember that your communication is a key aspect of the business. This means sharing your clarity of business with your employees, partners, investors, and customers really well. This should be an art that every founder builds as it helps in getting people to connect with their goals and vision.
It is not an easy task but is very important. So, branding and marketing also come into this. Take time to put your thoughts and build strong capabilities to communicate with key stakeholders of the business. If you feel you not good at it, identify people who can do it for you and hire them/ Build a team that understands the vision of the company.
Thus founders should be able to 4C the future and build these key aspects in their life. Hope this helps you and always happy to guide through my knowledge.