If you want to start your own company, I have a piece of advice. Do it only if you are 100% honest to yourself as well as others.
I’ve seen at least 14 companies start up and fail. The most common reason for failure was that the founders were dishonest to themselves.
A person is dishonest to himself if he sets up a goal of making 1 lakh per month without working hard enough. Sure, it is easy to make that much once you are in business. There are three ways you can make 1 lakh per month.
1. Cheat your customers. : For example, Vishal (name changed), started a traning institute for freshers. He advertised in papers and when freshers came to his office, he made false claims that his company was having the best training and awesome placements. The freshers joined, misled by his false promises.
The fate of Vishal: When you cheat, you fall in trouble. When you fall in trouble, you ask others for help. But who wil; help a cheater? Other cheaters, of course.
Slowly, all honest people left Vishal. He did not have one dependable partner / employee. The cheaters cheat amongst themselves , and cannot work as a company for long. Eventually, Vishal ended up being a lone cheater and anybody who joined his company soon and were unfaithful.
The freshers came to know about the tuth of Vishal’s company and its name became dirty. Got married with a wife who realized who he really was and could not love him.Vishal quit his company and joined a college as a placement office – what can be a worse ending to an entrepreneur?
2. Cheat Yourself: Another person, called Ramesh (Name Changed) started a company. His plan was to start a software company and grow it fast to become a big player.
Ramesh was dishonest to himself.
If he actually made about 30,000 in a month, he would tell others that he made about 6-7 lakh an year.
When he went to a restaurant, he would order costlier meals and would always tip the waiter because he believed he was a rich man and he should behave like one.
When he was travelling in a bus and a phone call came, he would talk in smart english and a bit louder than usual because he wanted to ‘impress’ anybody who was hearing.
He purchased a blackberry phone worth Rs.25,000. He didn’t need it, he bought it because he felt it was his status symbol.
He spent more money on his clothes than he saved in a month.
So this is what Ramesh did when his software company went well: He hired 12 freshers with a monetary bond of 50,000 to make his company bigger, promising them a salary of 8000 per month after training.
But something went wrong. The software market went down and Ramesh didn’t realize his life was a house built with no foundation. He could not pay the salaries, he could not manage his employees well.
He should have spent lesser on clothes and mobile and spent more time working & learning hard. A leader is not someone who is dressed the best, he is the one who is the best. From inside. Ramesh didn’t work hard enough to earn the Blackberry and the costly shirt. He took shortcuts.
So when his company was falling, Ramesh was disturbed. He took to unethical practice. He told a customer that he was a big company and that he can do their big project with ease. He told his customers his employees were proficient in mobile programming and took a big project. He did it to save his company. The client was impressed and gave his company a big project.
But the employees could not deliver it. Ramesh could not manage it. The Client sued him, and the employees demanded their 50,000 deposit back. Ramesh went to jail.
Why ? Because if you’re dishonest to yourself, you are one step away from being dishonest to others.
3. Be honest to everyone and work hard : Yes, this is the best way to make 1 lakh per month. And then, starting from there to increase it exponentially.
There is no other way. I’ve seen 14 companies fail, but there are millions in reality. Unfortunately, in India, cheaters come a longer way before getting caught. So whether Ramalinga Raju, Ashok Jadeja or that boy in your class who always cheated – they will all finally end up where cheaters go – in shame with no money.
Before you set up an aim to make money – think , are you working hard enough for it? If no, then you’re probably cheating. That would be a bad idea. A very bad idea.