In recent years, startups have been seen as the club that students in the polytechnic or university want to get into. An exclusive club, one that requires tons of brain, determination and an insatiable drive to work hard on an idea that will disrupt lives. You may have heard of successful local startups like Gintz, Carousell and e27, but what you do not see or hear are the challenges that the founders had to work through before their idea took flight.
Here are a few things to ponder on or expect if you truly want to bring your idea to life.
You and perhaps your co-founder will be together, covering all aspects of the business and are solely responsible for all of them. From human resources (if you are looking to expand) to marketing and accounting, you will be wearing more hats than you could ever imagine. While it will be a trying period, it also means that you gain actual ground experience faster and more detailed than your peers.
Will Smith recently advised in a video that has gone viral:
“Fail early. Fail often. Fail forward.” As paradoxical as it may sound,
investors are more likely and interested in investing in start-ups that have
had a few failed start-ups ‘to their name’. It means that they are more experienced,
seasoned and serious now, and will have a higher chance of success with the
current and any upcoming start-ups. So, if you have to, fail. But, it is only
the beginning of the future.
Success will not come easy, your mental and physical agility and limit will constantly be tested. There will be many late nights and nights where you do not even get any sleep. You will have to give 100% all day, every day. Why? Because when your competitors are asleep, it is the best time to work hard and get ahead. No one said being an entrepreneur was easy! As Dwayne Johnson famously said, “Always be the hardest worker in the room.”
Interested in taking up a scholarship? View the full and comprehensive list of scholarships here.