3 characteristics of an early stage founder mindset
“At NSRCEL we recognize these challenges. Having been around for over a decade and having helped hundreds of founders, its become our second nature to engage with our startups in these difficult conversations”
1. Consumed by the idea
Many founder/s fall so quickly in love with the idea that it consumes all of their conversations. Founder/s could spend much of the time inspiring potential hires, getting critical feedback on the prototype/early product instead of hearing themselves story telling. Falling in love with the solution than the problem in the early stage blocks out any potential course correction needed for an early stage venture.
2. Worrying about the capital
This is a real problem. Recent college pass-outs or those who have worked in the industry for few years join the ever-growing community of entrepreneurs. Driven by an idea or an insight they take the plunge but very quickly hit the wall when it comes to capital. It is at such times the extreme focus is needed on the problem, solution, and go-to-market. Instead, panic kicks in and all sorts of avenues for cash flow are explored.
3. ‘Busier’ than ‘business’
The hardest problem for a first-time entrepreneur is to figure out when to be hands-on and when hands-off, when to be strategic and when tactical. Consumer-focused founders get busy handling customer calls, business-focused founders get busy building features or chasing customers in all segments. ‘Busyness’ gives them the high instead of Business!
At NSRCEL we recognize these challenges. Having been around for over a decade and having helped hundreds of founders, it has become our second nature to engage with our startups in these difficult conversations. So dear first-time founders do you need help? Come ping us at NSRCEL. We will be glad to guide you.
By: Hrishikesh Kulkarni, Mentor – NSRCEL
Rishi (Hrishikesh Kulkarni), as he likes to be addressed is a mentor at NSRCEL. His association with NSRCEL has been since his company TurtleYogi was incubated with us. He sold his company 1Click to Freshdesk in 2015