Many people come asking whether they can start afresh on a venture in their fifties or sixties. With just a smile, I reply ‘age is just a number and nothing more’. One’s psych depends on the mindset, if you feel young at heart you are young and vice versa.
A famous doctor, who lived for almost 115 years, stated that one must postpone the idea of retiring until one can move around, without help. As once, you think of retirement you start rusting and the feeling of pain mounts up.
To our astonishment this doctor imparted his knowledge of expertise to his students until a month before his death.
Infact in the middle age the wisdom of knowledge mature with awesome mental balance taking success and criticism alike. Hence, the ideal age for entrepreneurship is until the journey of life ends.
However, the most important trait an entrepreneur needs to possess is being S.M.A.R.T. lets decode this and see how it validates entrepreneurship turning into a brand.
The first word ‘S’ stands for synergetic, which simply means that the young group must work in synergies without any apprehensions. They must be prepared to work 360 degrees if there are any valid suggestions from other members.
The second word ‘M’ stands for market demand, which refers to having thorough knowledge of consumer demands, competitor’s strategy and pricing viability. The finished product, which has undergone R&D on the above issues, is sure to be brand equity of the organisation.
The third word ‘A’ stands for ambitious where the word suggests that the team must possess skill set like work more, reach more and plan more. Think of linear products that could be made along with the original, utilising the existing capacity. Thereby the enterprise achieves a break-even, faster than expected.
The next word ‘R’ stands for researching which implies that every entrepreneur must research the subject thoroughly before actual investing and must gauge the failures while working on the solutions to succeed.
This exercise must be done on paper before taking up the venture. However, one small suggestion is think twice before you leap….but do not think too much and for too long as you might never take a leap at all.
The last word ‘T’ stands for tangible plan. This is the crucial part of the venture. After doing research, one must make a plan that works with realistic targets in a given period. Of course, a plan B is always necessary to take things forward as an alternative.
Way2World wishes S.M.A.R.T. entrepreneurs a grand success. Such planned organizations are sure to make a mark in the market. Catch up for more updates on ventures that are to dominate their domains in the coming future. With inputs from internet – Rajkishan