Every business project or startup begins with an idea. The idea can be unique or an inspired one. Both has its pros and cons. With a unique idea, you are never sure whether people in Pakistan adopt it or not.
Using an inspired idea you have to constantly prove that your adoption is better than the original.
No matter what, the process of becoming an entrepreneur starts with an idea.
Read more: Unique startup ideas in Pakistan
Research is extremely important. Conducting surveys is not an old idea; it is something that will apply forever. Ask people their opinion, see if the idea you are working on is needed or not, what changes you can make, all these answers you will get after you conduct a survey.
Make a plan:
If you want to become an entrepreneur you have to plan for the next five years beforehand. You must have a complete draft of how you will execute your idea. Also, you should know how and exactly when you have to make use of the tools available to execute the plan.
Take baby steps:
Becoming an entrepreneur in Pakistan or anywhere in the world is not one day play and you will not achieve overnight success. Your idea is your child, and a child cannot become a grown man in a couple of days. You need to understand that before you start a project.
Interesting: Lessons for young entrepreneurs
Hiring the right people:
For an entrepreneur, hiring is very important. It’s not a big organization where you hire individuals who work to earn money.
The people you are hiring must have faith in your idea as much as you have. Only if you are able to create a dedicated, honest and loyal team, you can achieve success as its always team effort that pays off.
To become an entrepreneur it is necessary that you have enough saving and funding. Companies that fund startups in Pakistan include Y Combinator, Jump Start Pakistan, Dot Zero, Peracha, Plan9, Telenor Velocity etc.
An entrepreneur must keep in mind that nobody would fund you just on your idea, so have ample savings and income source before you start. At least begin your project before you start looking for fundraisers.
Get ready for Failures and Criticism:
If you can’t handle pressure, failure and criticism don’t become an entrepreneur.
If one person will praise you, ten will put you down. It will be your perception at the end about whether the ‘glass is half empty or half full’.
If you have gone through the whole process, the last step is survival and this step never ends. You have to survive in the market with consistency, honesty and continuous improvement.