To achieve any kind of goal it’s very important to have a vision and mission. This is the reason any organisation or a start-up clearly defines and stresses a lot on these terms. What separates these two is that small steps forms the mission to achieve a dream in the form of vision. Now to support this heavy weighted vision, you require strong pillars in the form of values.
With the present culture in India, every second person wants to be an entrepreneur but there are limitations to it. Strong barricades either in the form of huge money, deep knowledge, parental pressure, absence of similar minded brains and many more. So, do we back out? Can we be an entrepreneur without leaving the delight of monthly message of salary credits?
The answer to this is a big YES. To achieve a corpus of 1crore+ which might be 10years down the line or even longer it requires a similar vision, mission and values. In the mind of investor, 1cr + feels presently like a bubble which can either disappear or get burst anytime. But if you have your vision, mission and values aligned, you can not only save this bubble from bursting but can see it grow in multiples.
To start the journey, like a start-up you need to clearly define your vision of Retiring comfortably. Vision can be accumulating 2cr in 20 years of time. Seems a big number similar to a start-up firm’s revenue. But this no. is not any number as you would be spending crucial 20years of your life to achieve it. So, it needs calculation at the backend which defines the SIP amount you will need to put in comfortably from a percent of your take home salary. Also you need to plan for subsequent year hikes to SIP as per your salary growth. This definitely requires time and calculation. And why not as you are taking the first step towards entrepreneur ship. This is a very exciting stage where you visualise that dream no. and feels to have butterflies flying out of your stomach.
Now you need to define small missions to carry a big vision on its shoulders. You again need some valuable time to formulate these mission for your enterprise which will be growing to 2cr. Design missions in such a way that you can achieve few over your journey to feel boasted off.
Mission 1: Never miss your SIP.
Your enterprise need regular infusion of money to become a big 2cr company. It can’t afford to miss even a single month till the complete period as it will harm your vision.
Mission 2: Increase your SIP every year.
As you want to grow your enterprise at a rapid rate, you need to devote more money to it and it can be achieved with the comfort of your yearly salary increment.
Mission 3: Do not touch the accumulated corpus.
You can’t afford to borrow money from your enterprise for your impulsive needs. This will create a bad debt in your balance sheet and weaken your company. For emergencies you need to have an emergency fund.
Mission 4: Do not go overboard on your funds.
You need to select your employees in the form of mutual funds which have given good performance over last 5-7years. You need to trust them and give them time rather than going for new employees.
Mission 5: Review your portfolio.
Any enterprise requires a review of its financial state. Similarly you need to review the balance sheet of your enterprise once a year to analyse the performance of funds. Which employee is performing and rewarding him accordingly with increased SIP on that particular fund.
Mission 6: Celebrate hard on achievement
Celebrate small achievements of your enterprise like First Anniversary, Business touching 7digit mark, First partner in form of mutual fund to reach a lakh, Profit getting double of your investment, reaching half way mark etc. But mind you, celebration should be a wild one similar to what a start-up companies do nowadays.
Now as we are done with the vision and mission, we have to work on values which will drive this enterprise. This is very important aspect as it defines an entrepreneur and the way he has to mould himself to run this enterprise successfully. The values would be
Discipline: Needs an approach where you have to put your SIP amount whatever the situation may be.
Patience: needs to have an approach to wait for the fruits to ripen. More the time, tastier it is.
Knowledge: Should devote time to choose right business partners and this involves research and continuous study on funds and market.
Non clutter approach: Should be confident on the funds chosen and when to add/delete if required. Don’t have to be of herd mentality and flowing along with the crowd.
Now that we are done with the structural formalities of building an enterprise, why wait. Get on your shoes, be an entrepreneur and build a million dollar company. This company will support you during your retirement and make it worth enjoying.
Kudos to all new rising entrepreneurs!!
safalinvestment 