1. Think out of the box
To be a successful entrepreneur you must focus on innovations. New ideas and approaches are need of the hour.
A start-up can be successful with a unique idea only. For this, you should work on the advancement of current technologies. In addition, startups should work towards ease of living standards through perpetual usage of R&D.
This is what PayTM is doing. It has eased payment systems, increased transparency, and hence proved out to be a revolution towards digital payments.
2. Overcome your adversities
The first and foremost important thing is that you must not feel shattered due to the adversities of life. If you want to successfully sail through the odds then you should muster the courage to overcome them.
In an interview with India Today Enclave, Vijay Shekhar Sharma said that-
“poverty in India is an asset, which sometimes our countrymen love to play with.”
He further added that these four lines on poverty changed his life forever.
“I am poverty; I love you; I can’t leave you, because you love me more than I do.”
He learned from his poverty-stricken life that you have to change the existing state of affairs to remove poverty.
3. Look for combo of skilled and passionate
Hire employees in your startups who are really skilled and passionate about their work and who can devote themselves with utmost sincerity to achieve the mark. Moreover, the employees should be capable of taking decisions on their own and stand by their decisions too. He says –
“If you are skilled but not passionate, then you are a weight on the team. But if you are passionate and not skilled, it means it is just a hobby for you. Therefore, a combination of passion and skill is what I look for.”
4. No fear, no greed, no entitlement culture
Follow a no fear, no greed, and no entitlement culture. He says that –
“We won’t fear whoever you are, and we won’t carry any sense of entitlement that we will be successful just because of what we are.”
Moreover, keep your startup equipped with hardworking people. This defines the true culture of a startup.
5. Hard work is the key
Hard work is not about just working hard, it is about loving what you are working hard for. He once said that –
“Work-life balance is such an overrated thing. If you enjoy something, you don’t balance it, you do more of it.”
6. Be a pioneer
A good mind follows a good heart. So be a pioneer, not a follower to become a successful entrepreneur. Vijay Shekhar Sharma said –
“I never wanted to go out to Silicon Valley. Instead, I wanted to build something out of this country. If I couldn’t be an army man, let me be a civilian who does something good.”
So take pride in what you do as an incumbent entrepreneur for the good of the society.
7. Be deterministic and futuristic
To be a successful entrepreneur you should be future-oriented and deterministic. He once said that –
“The Uber of India is Uber. The Google of India is Google. I can sign it on a wall that the PayPal of India will not be PayPal.”
And thus he gave birth to Paytm.