Neena Pandey, Founder and CEO, The String Code, Indie Roots.
I come from a “service-class family.” That’s the term used in India to differentiate families like ours from families who had their own businesses, or “business-class families.” I grew up with limited resources, and I always thought that I’d work for someone when I grew up.
I am the first person in my family to go the entrepreneurship route; thus, my family was scared when I left my promising career in high-tech to do just that. Now, I want to share part of my journey and what lessons I’ve learned that can help other new business owners be successful in their own journeys.
1. Overcoming Fear
This was the single toughest thing that I had to do, given my upbringing. Growing up in a middle-class family in India, my two elder sisters and I were constantly reminded by our parents that not being able to support ourselves was not an option. While this mindset pushed us to work hard and strive for success, it also instilled a fear of failure and a reluctance to take risks. I held tightly onto what I already had, afraid of losing it.
However, as I evaluated my career and reflected on my happiness, I realized that I had different aspirations in life. It required deep introspection to understand my true desires. Eventually, I made the decision to embrace entrepreneurship as the path that would fulfill my aspirations and provide the fulfillment I sought.
What I learned from this is that to overcome fear, you should embrace a philosophy of considering the worst-case scenario. Ask yourself, “Will it truly be the end of the world?” If the worst outcome is not irreversible, or if you can find new ways forward, even if the worst should happen, consider taking the leap. For instance, when my husband was laid off, and my visa situation prevented me from working, it caused immense stress. But after reflecting on the worst-case scenario, I realized that even if he couldn’t find a job and we had to return to India, we would still possess our skills and competence, allowing us to start anew anywhere.
2. Parallel Entrepreneurship
I believe focus is overrated. Just like you need to compartmentalize between work and home—between that conflict with your boss and caring for your toddler—it’s important to compartmentalize for different instances of work, too.
As an entrepreneur, you have your dream project, but you also need resources. So, consider creating several small streams of revenue that may not directly align with your goals but can help you achieve your bigger goal. Build resources that feed into your primary goal. It’s like creating a portfolio career.
I have used this methodology to do what I have been passionate about. I never took any funding because I knew that venture capitalists would ask me to leave my other businesses and just focus on one. Having a strategic business plan that may involve other sources of income can help alleviate concerns around funds and enable you to work freely on your dreams without worrying too much about how to keep the lights on.
3. Mindset
Having the right mindset is just as important for achieving success as your skill set. I believe one fundamental flaw in how we educate our children is that we often tell them to give 100% effort without explaining what exactly that entails. Growing up in a culture of cutthroat competition, I was conditioned to believe that there were only two choices: to be or not to be. Failure was simply not an option.
When you make the decision to leave behind a comfortable job and embark on the entrepreneurial path, consider adopting a mindset that regards failure as non-negotiable. To illustrate this mindset, consider how we approach babies learning to walk. We don’t limit their attempts or say, “Johnny is not a walker; let’s bring a wheelchair for him.” Instead, we give them as many chances as it takes because walking is an essential skill. Similarly, in entrepreneurship, you can embrace a mindset that refuses to accept failure as an option and perseveres until you succeed.
4. Fake It Till You Make It
Our brains are always listening, taking cues from our self-talk. They respond to what we believe we are capable of and even to thoughts of inadequacy. To harness this power, we can use our physiology as support.
Adopt a confident language, and your brain will process and align with it. Pay attention to how you present yourself—your speech, posture and breathing. Convince yourself of your identity and potential. Remind yourself with positive messages everywhere—for example, placing sticky notes at your workstation, bathroom mirror, or console. By repeatedly affirming your capabilities, you can become your best self.
Your brain believes what you tell it. If you believe you’re not an athlete, your body won’t release the hormones needed to cross the finish line. However, if you tell your brain you can do it, your body should follow suit. Craft a compelling story for your brain until it manifests as reality.
5. Self-Care
Self-care is vital in entrepreneurship—a solitary journey of weighty decisions and self-reliance. Without co-workers to chat with or team support, you face challenges alone. To navigate this, prioritize self-care: confide in someone, seek a mentor and consider therapy if needed. Ignore others’ judgments of your capabilities; don’t let irrelevant voices weigh you down. Focus on carving your own path, shutting out external noise. Remember, success and failure are yours alone to bear.
These are a few of the lessons that have helped me on my entrepreneurial journey. I hope these pointers inspire you on your journey, as well.
Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?
Read the full article here
