Decisions – the most difficult part of being an entrepreneur

Being an employee is not easy, and being an entrepreneur is about a hundred times more difficult. But, as an entrepreneur, I have always strived to move forward every day, even if it is by a tiny amount. When I started my own company, I was overwhelmed by the number of decisions I had to make – every day, every hour. The minutest decision had to be taken by me, as did the big, important ones.

One of the things I learnt was that decisions do not seem a big deal if you do not have to make them. Should you have your own servers or use them on rent? Which technology should you use to develop software; DotNet or Java? Should you get your own office space, or should you rent one? How big an office would suffice? Should you invest in buying desktops, or should you give a laptop to each of your employees, returnable when they resign? How should you raise the required capital? Should each of your employees get a salary account or should you deposit the salaries in their savings accounts? How much should you charge for your services?

And it goes on. I thought I was the only one going through this conundrum. But, when I spoke with fellow entrepreneurs, I realized that they were battling with the same issues. No start-up is formed with all the information required. Most entrepreneurs decide fast and know that about 30% of their decisions will be wrong. They also accept that they will have to recover from the repercussions of these bad decisions. It takes time to build a start-up, but you will not get the time to sit back and analyze all the decisions you made.

Struggling at making decisions will not get you far. An entrepreneur who wants to weigh all the odds before taking a decision will never take one. They will take ages to hire someone new, and ages to fire someone. They will also spend hours contemplating quitting their job and starting off on their own.

Sometime back, a friend of mine decided to go on his own. He did not know where to get the capital from. I introduced him to some investors, and what I saw was one of the best pitches of my life. He had them within 15 minutes. He also told them that he will be ready to meet them with the finer details whenever they wished to. He met them at 6 hours’ notice! Today, his order books can put any decent start-up to shame.

Thinking about doing something will not help you unless you get out of that chair you are sitting on and do something. If you are just talking about your idea to an investor for about a year, then chances are high that he will not back you. They know their job and they know how yours will work. You need to go and get them!

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