Hacking the Parallel Journeys of a First time Entrepreneur

Every Entrepreneur goes through External and internal journeys while building his or her startup, it is their own quest to find Entrepreneur market fit.
In words of Marc Andreessen: “Product –Market fit means being in a good market with a product that can satisfy the market “.
The journeys in parallel make it complex,

a.)in the external market they have to battle with the unknowns in the external world –product readiness, market acceptance, competition, funding, etc

b.)in the Internal market  they have to battle with the known in the internal worldself belief, ability to deal with failures, support from their loved ones, self- esteem, etc

c.)The entrepreneur market fit is solely determined by the market in its acceptance of a person as an entrepreneur rather than the wishful thinking of an entrepreneur.

Entrepreneur should posses: There are many scenarios to consider, but the major  four scenarios are as

1.Leader: The person as an entrepreneur  comes across as instrumental in bringing the product market fit with the help of the team and continues to lead the company well beyond the formative stages.
2. Partner: The founder has to get his or her bearings on the entrepreneur market fit. This is a classic situation where potential investors as quickly as possible.
3. Adventurer : Think in a smart way and in the ‘Never give up’, philosophy. If the founder persists further and succeeds, this journey will shape the test of their life.
4.Repeater : There is not much happening as they are battling internally trying to recover from the long journey to see a ray of hope. For a passionate founder, this is a ‘hiatus from’ and not a breakup with his or her entrepreneur dream. The founder who comes back after the break is a repeater and is much more equipped and determined.

How can use this knowledge?
If you are first time founder, first step is to be aware what is happening and face the reality in the two parallel journeys that you need to undertake. Hard work is a given, but as you can see good help is golden chance in these situation.
Last but not least Luck plays an important role too. If you get luck acknowledge it and offer good help to other founders in need.
-Ganesh Reddy

PGDM 2014-16