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Takeaways to remember
- Get out in the field and see the real problems. The first-hand experience reveals opportunities and challenges that are rarely apparent from afar.
- Prepare yourself to switch directions.
It’s sometimes a good idea to take a step back and consider whether you are still on the path that is aligned with your goals.
- Act local, think global. The majority of founders are focused on the local market, but the true edge is spotting trends globally before they reach your own marketplace.
- Establish credibility before focusing on visibility. Advertisement can attract attention, but it cannot buy trust. Create genuine value by building relationships, understanding the industry and educating stakeholders. Many people believe that successful business starts with a plan. Both of the companies that I started began as little more than an act-willingness.
The years I spent assisting companies to grow by focusing on strategy, customer acquisition and content taught me many things, but at some point, my efforts reached a limit. The first company I started had reached its end. It revealed that there were bigger and better opportunities beyond what I was doing. Then I sold the company and began again.
My path was not linear. Every phase was shaped by mistakes, lessons learned, travel abroad and investment. Every decision I made, whether it was good or bad, brought me one step closer to the launch of a biodegradable start-up.
During my time at Covid, I worked closely with rural communities and farmers in Uttarakhand. I gained a unique perspective on challenges that farmers face and opportunities they may not have seen in reports.
As I transitioned from an idea to reality
I learned that building a business with a long-term perspective is different from starting a traditional startup. The timelines are stretched, the challenges increase, and it takes longer for results to manifest. When progress is made, it usually lasts.
Every phase taught me lessons I still use to make decisions.
1. Work in the field.
Working in the hemp sector taught me a lot. The hemp was readily available, so it looked like it would be easy to find. In practice, however, the scaling-up process was more difficult.
The regulatory obstacles, the unclear title to land and the difficult terrain made it hard for operations. These problems would not have been apparent from research or reports alone. Living and working there taught me about these problems.
My experience taught me that demand is rarely the limiter of opportunities.
They are usually held back instead by the challenges that you can only notice when you actually go there. Spend time in the real world if you’re looking to create something lasting.
The first-hand experience reveals opportunities and challenges that are rarely apparent from afar.
2. Prepare yourself to make a change of direction.
Selling my first company was one of the most difficult decisions I ever made. Self-awareness is just as important for entrepreneurs.
It’s sometimes a good idea to take a step back, and consider whether the current direction you are on is still in line with your goals. For me, my business was a success. The business gave me knowledge of the industry, experience and relationships.
3. Think Global, Act Local
I traveled to China, Australia, and other countries to learn how they approached innovation, manufacturing, and environmental issues. The travel forced me to reconsider how I approach challenges and opportunities. This shift in perspective often drives sustainable growth.
I witnessed in China how quickly industries scale up when the infrastructure, manufacturing capability and demand for products are aligned.
In Australia, there was a lot of emphasis placed on long-term thinking and sustainability.
Often, opportunities appear on one market many years before appearing in other markets. The majority of founders are focused on the local market, but your real advantage comes when you can spot global trends and act before others.
While travel doesn’t give answers to all your questions, it can give you a new perspective. Perspective helps you to make better decisions.
4. Building credibility before visibility is important
I am often asked how I have grown my business without advertising. It’s simple. I built credibility first before trying to be noticed.
It is tempting to believe that growth can only be achieved by increasing marketing budgets. Advertising may buy attention, but it does not build trust. Concentrate on building relationship, understanding industry, educating stakeholder and creating real value.
When I founded Ukhi, a materials science startup, I was focused on creating genuine content authority by using original research and blog posts of high quality, which were all meant to benefit our customers. This strategy has now paid off. It took patience to follow this strategy. Credibility takes time, but it pays off more than advertising.
The business growth was slower but it stayed.
They trusted us, so they engaged. No advertising campaigns were run. Increased trust resulted in referrals, partnership and other opportunities.
Credibility compounded
I have learned that credibility compounds. Trust continues to work long after advertising stops. Successful businesses are often focused on results. The focus is on growth, partnership, or market traction.
The years of learning, mistakes made and investments before the results are visible rarely get noticed. The early stages of success are the key to a sustainable future.
It evolved over the years working with farmers. Then it expanded internationally and today continues through new ventures, and investment in sustainability. It’s important to note that action almost always comes first, not clarity. The majority of my opportunities that have shaped me as a professional only came to light after I made the first move.
It was not always easy or clear, but I learned from every mistake and lesson. This, rather than any kind of business plan, was what allowed me to build a business that is sustainable from scratch.
