5 Things you need to know before becoming an entrepreneur

When you decide to become an entrepreneur, you are practically deciding to give birth to a child. What becomes of it is solely your responsibility and that’s the most challenging and fulfilling part of it all. You need to nurture, love, and continually evolve what you are doing to adapt to the surroundings; you will need to stand firmly by your vision and value system.

It will require an investment of your thinking ability and mindfulness. It will require you to be proactive, and invest effort and capital. But here’s a heads-up – it’s going to be a beautiful joy-ride! A lot of highs will come intertwined with heart-breaking lows, but not everyone dares to transform their dreams to reality like you.

Here are some ground realities for you to keep in mind on this journey:

  • Self-motivation and instinct

    You are about to enter an arena you have built for yourself and established the rules. Trust your gut and develop the conviction about your strengths and your product. You will eat, breathe, and sleep this vision for the rest of your life; hence, it becomes important to find motivation. Build new skills, adapt, stick to your strengths, and fight your battles with instinct.
  • Find the right team

    You will seldom come across people who share your vision. When you do, stick with them. What is important is letting them be a part of this journey at the initial stage and letting them walk along with you. Pick a team that co-owns your dream and stands by the same values.
  • Network for business

    Whether you bank on the network you have created or create one from scratch, you will need it. Your peers, subordinates, and customers remember the spirit, acumen and values you brought with you and hence your business is perceived on the same lines. Remember, it needs to ride on a mutual benefit track. For this, networking must never be underestimated.
  • Pick your customers

    Just as in life, you cannot please everyone in business. There will be customers who will see your value and there will be those who don’t. Our suggestion: do not waste your precious time mulling over the pessimists or trying to please them. Move on. Stick to the ones who see the benefit in what you bring to the table and play by your strengths.
  • Keep capital handy

    That brings us to the most important aspect of entrepreneurship: funds. Any new venture will require funding. But what is not a given is its availability at the right time. In today’s always-on world, strategic decisions need to be implemented within a blink of the eye. If you do not rise to the occasion, someone else might.

    This is where an HDFC Bank Business Loan comes to your rescue. You can avail of a loan of up to Rs 50 lacs without the need for a guarantor and at an attractive interest rates. You have access to easy loan transfer, an overdraft facility, and a repayment tenure of 12-48 months. If you are looking for a quick loan disbursal, this product is for you!

    You can check your eligibility online or at the nearest HDFC Bank branch. Learn more about it here. Allow us to be your partners in this new journey!

Want to know more on how to become the perfect loan candidate? Click here to get started!

Looking to apply for an HDFC Bank Business Loan? Click here to get started!

* Terms & conditions apply. Business Loan disbursal at sole discretion of HDFC Bank Ltd.