Most common mistakes an entrepreneur makes during the early stages of the journey?
Deepti Garg
I would rate these as the most common mistakes. Finding the right co-founder(s), over-estimating what can be achieved and under-estimating the time it takes and budgeting
Is it important to monitor my competition or would it lead to imitation? I believe the USP of my brand may get lost. Please advise.
Ayushi Sharma
Being aware of the competition is one of the many things an entrepreneur should cultivate. I would advise you to study and be aware of the competition and convert their weaknesses into your strengths. USP is important, but building sustainable competitive advantage is even more important. For every company, irrespective of industry and geography, customer experience is the key starting point for a sustainable advantage.
Is it essential to give my customer a receipt after a purchase is made? I have not registered my company but I sell products by word of mouth. Will this lead to any legal issues?
Nishith
Yes! If you want to build a long-lasting company, my sincere advice is to start taking care of all the regulatory/compliance requirements.
I have heard a lot about making direct eye contact with an employer during interviews. It is very difficult for me since I lose my flow of thought. Is this really essential?
Shubh
It is important to build a level of trust by having the right amount of eye contact. But if you become conscious of this fact, practise in front of a mirror. Just be yourself and show your true self.
I have been employed for the past 3 years and I know that I fail to be a team worker. I cannot trust my co-worker to execute a certain task. My intention is only that I want the end result to be phenomenal. However, my colleagues take it as interference and we tend to have differences. What should I do?
Rashmi Ranjan
I assume you are able to complete your tasks first before you try to get involved in other team member’s tasks. Communication is the key. Having an open chat is the starting point. If other team members’ understand and relate to your involvement, they will appreciate it.
Madhu Avalur is an angel investor in start-ups from around the world.
