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Jesrina Arshad, Founder of PurelyB

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Jesrina is the founder and CEO of PurelyB.com, namely PurelyB – a one-stop multi-lingual portal that makes it easy and convenient for people in Asia to lead healthier lifestyles.

Jesrina has over nine years of experience in the digital industry starting out in web design and development at Integricity (VLT), to leading top digital client accounts at Mindshare Malaysia (Malaysia’s largest media agency), to heading digital marketing strategies at Astro Malaysia Holdings which is Asia Pacific’s leading media entertainment group.  Jesrina holds a Bachelor’s degree in Multimedia Technology and Design from the University of Kent at Canterbury, and a Master’s degree in Marketing from Kingston Business School, London.

The creation of PurelyB came about when Jesrina was able to overcome long-term health issues by making positive lifestyle changes such as a healthier diet and exercising effectively. Based on her own journey, the healthy living content and marketplace portal was created to help and empower more people in Asia to adopt healthy lifestyle changes with greater ease.

In September 2015, at just four-months old, PurelyB was awarded one of ‘Red Herring International’s Top 100 Startups in Asia’ – a prestigious list honoring the year’s most promising private technology ventures in Asia. Soon after, PurelyB was selected to be one of only 20 Malaysian startups for the [email protected] Entrepreneurship Program at Stanford University.

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In your own words what is PurelyB?

At PurelyB.com we help to provide all the information, products and services people need to lead a healthy lifestyle, all in one place. Our mission is to help make it easier and more convenient for people to lead sustainable healthy lifestyles, especially if they live in Asia, where many of the pain points are! There currently isn’t one trusted brand or destination in health and wellness that collaborates and connects other brands and customers end to end as well as from content to commerce.

Available in English and Chinese, we provide users with guidance and motivation through inspiring articles, videos, recipes and custom-designed health programs, complete with meal delivery whereby they can easily take action and start getting healthy! Our online marketplace then provides the ultimate convenience where users can easily discover and purchase healthy goods and services from trusted sellers globally, in all aspects of health, from fitness to nutrition to holistic wellness.

Our aim is to inspire and empower people to start getting healthy and influence positive lifestyle change and we have a long-term growth plan to become the #1 preferred online healthy living destination in Asia Pacific.

purelyb-health-programmes

How did you come up with the idea of PurelyB?

People in Asia are increasingly becoming health conscious, however, the lack of awareness, accessibility and convenience surrounding local healthy options hinders them. People don’t know enough on where to go, what to do or how to get started! And my team members and I were the exact target audience that felt this frustration! This really motivated us to create a solution through PurelyB with our mission to make it easier and more convenient for people in Asia to lead sustainable healthy lifestyles, and cater for all their needs.

Having overcome long-term health issues by changing up my lifestyle and adopting an all-natural, process-free, superfood and nutrient filled diet, I wanted to help others do the same by increasing awareness and providing the ease of finding local healthy options. Not only had my health issues gone away, I felt a positive difference in my body and had so much more energy!

This revelation was truly a turning point for me – it wasn’t that difficult to be healthy in Malaysia after all, but all the information we needed was just too fragmented! It took weeks of effort and determination in researching information from multiple sources before I made that lifestyle change and saw the drastic improvements in my health. If only there was one place I could have turned to for all this information and guidance, I knew could have made improvements to my health years ago! But no such solution existed. My team and I were then so passionate to then create this solution through PurelyB and help others, and truly make it that much easier for people in Asia to live healthier.

Could you walk us through the process of starting up PurelyB?

As soon as I came up with the idea of PurelyB in February 2015, I knew I needed a strong team in place who shared my ideals, passion and vision. I already knew most of my founding team members prior to starting up PurelyB, and that they were leaders in their fields and extremely passionate about this same cause. Together, we had a good mix of digital specialists and health and wellness experts, which I felt was an essential balance when building up a trusted and credible health and wellness brand and portal. The team came together in early March 2015 and we just had that undeniable chemistry and bond, I knew we were onto something special.

We then solidified the business model and strategy, found a great technology partner who shared our vision and passion and got the site up in May 2015 within 2 months from concept. It was an intense 2 months considering the extensiveness of the content and features on the site, as we wanted to ensure it was as useful as possible in encouraging healthy living right from day 1.

Everything we did for the first few months was trial and error, as being a first mover in Asia, we weren’t sure which of our plans, our content or our features would appeal most to our audience. Thus why we never even ran any paid advertising nor launched in a big way, everything was within a somewhat controlled environment and only spread amongst our own social media platforms to our family, friends and peers through word of mouth. We were then pleasantly surprised to achieve 10K Unique visitors and 30K page views within our first 4 weeks, which then tripled to 30K Unique Visitors within the next few months mostly through organic growth and word of mouth referrals. But beyond the numbers, it was the positive and touching comments we received from users all around the world, who showed appreciation for what we were setting out to achieve.

The overwhelming positive response and gratitude we received from users especially in Asia within our first weeks of soft-launch alone, showed how we can truly help make a difference in people’s lives and empower them to live healthier, which really makes everything worthwhile.  From there we knew we had the potential to really make a difference, but we needed to grow faster, stop bootstrapping it, and strengthen our team, technology and offerings. That’s when we started to raise funds and thus recently closed our seed fund round led by 500 startups.

Along the way however, the past 8 months have been an absolute whirlwind, from PurelyB being one of the 20 startups in Malaysia selected for the Silicon Valley Immersion Program at Stanford University to us winning the Red Herring Top 100 Startups in Asia award held in Philippines, each milestone has helped us apply key learnings, make valuable connections and strengthen our business along the way.

Did you encounter any particular difficulties during startup?

As a bootstrapped startup, in the first 6 months (up until just 2 months ago), we couldn’t afford to pay salaries thus most of our team members were part-timers who were volunteering their time out of drive and passion, and the belief in our business. It was difficult to juggle and achieve smooth execution of the fast-paced and ambitious roadmap we had planned with lack of a full-time team. We managed to pull it off however by keeping the team motivated and focused on the long-term goal and potential successes of the company. By keeping everyone driven by passion, inspiration and strong faith and belief in PurelyB, we managed to turn a ‘part-time team’ into the hearts and dedication of full-timers, despite them not getting any monetary benefits.

Also as we are a first mover in providing an online content-community-commerce ecosystem in health and wellness to consumers, there isn’t a successful model anywhere globally to compare to or set benchmarks against. Thus every phase along the way is experimental based on prototyping and beta testing. But what we made sure was that every element created was based on a need verified by our target audience and to continuously improve users’ experiences through fast turnarounds in optimization and implementation. Speed and agility is a definite factor in helping us overcome certain challenges.

It’s been such an exciting journey so far though and we are grateful for the growth and visibility we’ve achieved organically and the incredible support from our followers.

How have you been developing PurelyB since startup?

Our aim is to inspire, support and empower people in Asia to live healthier and bring the entire community together. Thus we’re focused on building up a holistic ecosystem that provides ultimate convenience for users to easily discover and purchase healthy goods and services from trusted sellers globally on our site. For sellers they are able to leverage on our platform, our payment technology gateway and most of all our highly targeted community who are interested in healthy goods. Thus we’re building up the platform to be extremely data-driven and seamlessly integrate the entire user journey across all aspects of our portal, from content to marketplace. We’ve also recently launched our Chinese site too, so we can truly cater for different markets in Asia and collaborate with a range of partners. We are focusing on web for now though as we launch marketplace in March this year, and from these learnings we will then develop our mobile app within the 2nd half of 2016.

What kind of feedback did you get for PurelyB so far?

Within our first few weeks of launching, we had received touching messages from people in Malaysia and all around Asia, who loved our cause, and shared their inspiring stories with us. Not only did they share their gratitude for what we had built through PurelyB, they wanted to contribute and be a part of our mission. We honestly did not expect such a positive response especially as we were only known through word of mouth! This really moved us, and this continuous outpour is what keeps us motivated and inspired to really build up PurelyB towards our long-term vision and truly help make a positive difference in people’s lives. We’ve also noticed quite a number of corporations reaching out to us to participate in their wellness movement this year; it looks like 2016 will definitely be a year of driving positive lifestyle change in Asia!

What is your strategy against your competition?

There are definitely a growing number of players in the health and wellness tech industry in Asia, however we have yet to come across one that holistically addresses the pain points of healthy living, for which PurelyB was created for. There are a lot of renowned and upcoming health and wellness brands out there but we are a partner and a collaborator to all players in the health and wellness industry rather than a competitor. We help connect the community through our platform, where users can discover local health brands and brands themselves are able to tap into our growing and highly relevant and targeted audience base. We intend to be that go-to platform for both users and brands in health and wellness.

Our strategy in staying ahead is definitely in ensuring we strengthen and upkeep the values of our brand. In health and wellness, brand trust is everything and it’s so important for us to stay true to our vision and continue to build the trust and credibility that PurelyB stands for.

What can you tell us about the industry? 

Health and wellness in Asia is definitely on an upward trend with beauty, anti-aging, healthy diets, nutrition and weight loss making up the bulk of the interest. The key drivers for this change are the rising health awareness as well as local healthy options becoming more readily available! The sudden influx of healthy lifestyle solutions from healthy food deliveries, cold-pressed juice bars and one-stop fitness solutions such as KFIT and Guavapass in the past 1 year is a clear indicator of the growing demand.

It is however more women-skewed in terms of the interest and demand, and expectant women and mothers are the biggest advocates of health and wellness, making up the majority of our audience. Their children’s health is of course a priority and they would go all out to ensure their children are getting the right nutrients and use only safe, natural non-toxic products. But before it would be difficult for them to find these solutions for their kids, having to always import from overseas thus why with PurelyB we help to make it that much simpler and convenient by providing everything they need on our platform.

What is the future of the industry?

The future of the industry is definitely now shifting more towards holistic wellness and natural health which is also our main focus. The healthy eating, nutrition and weight loss segment is currently a US$585bn market expected to grow to US$737bn by 2018; CAGR of >8% for the next 5 years. Out of which Asia Pacific will be the highest growth market! (Source: Euromonitor International Report 2014)

It’s exciting to see so many solutions emerging in health, wellness and technology particularly in wearable technology. As this industry grows, even more so the importance of an ecosystem like PurelyB that brings everything and everyone together. Thus continuously keeping up with the latest health trends, offerings and consumer needs, whilst staying true to our vision and mission, is key to evolving our platform and staying ahead of the curve.

Were there anything that disappointed you initially?

I wouldn’t really use the word disappointed, but it’s expected that the past 8 months have been a rollercoaster journey with ups and downs along the way. But with any negative experience, there was always something good that came out of it, thus I’m always a strong believer that you have to go through some disappointing times to eventually achieve greatness.

What do you think about being an entrepreneur in Asia?

It’s not really fair for me to compare as I haven’t yet explored entrepreneurship outside of Asia, but entrepreneurship is definitely challenging either way and I feel those who are truly passionate and dedicated about their cause and go all out to make it happen, will be able to stand strong even during the most trying of times. The startup ecosystem and support provided in Asia has really strengthened so much over time though and I do believe it is much easier today to become an entrepreneur than it was a few years ago.

What is your opinion on Asian entrepreneurship vs Western entrepreneurship?

Social and cultural factors create some of the main differences between Asian and Western entrepreneurship, understanding the different languages, traditions and cultures is imperative to become a successful startup in Asia, and simply replicating a successful model from the Western markets would not work in Asian markets. Hence, the reason why some Western startups fail in expanding to Asia due to the lack of localization and true understanding of the local market. On the other hand, from a tech standpoint, there are also many Asian startups who try to emulate the Silicon-Valley way of entrepreneurship, even though their funding strategies which it itself can cause issues as the processes, expectations and standards are so different in both worlds.

What is your definition of success?

For us, success is meeting the goals we set out to achieve and becoming the #1 go-to online destination for healthy living, truly helping make a positive difference in people’s lives in Asia-Pacific but even potentially Worldwide. Just being able to see that we’ve played a key role in encouraging people to make that change, live healthier and experience drastic improvements in their health, would really be an invaluable achievement in our eyes.

Why did you decide to become an entrepreneur?

It was always an aspiration of mine even early on in my career, every job I had I treated it like it was my company, my baby and would put my all into my work with constant sleepless nights. I knew one day though that I would channel all this energy and drive into my own business but it was a matter of finding the right idea that would hit me like a rare ‘aha’ moment!

In your opinion, what are the keys to entrepreneurial success?

1) Stay true to your vision and never give up on your dreams! Just stay focused and work hard, and know that all the highs and lows are a stepping stone bringing you closer to achieving your goals.

2) The team is everything! Have a strong and diverse core team who all share the same passion and vision in the business’ values and success. The power of a dynamic and talented team with undeniable chemistry can plough through even the most challenging of times, and can even make the impossible happen.

3) Speed and agility which enables you to adapt to changes quickly and action on trends and insights that can make improvements and majorly impact your business.

 

Any parting words of wisdom for entrepreneurs out there from your personal experience?

Firstly, the power of perseverance! You have to go through the lows to get to the highs, so never give up even during the most trying times. You have to just persevere through, address the issues as best you can and have confidence that it will all pay off.  Sometimes the outcome and rewards can really surpass your expectations!

Also the importance of building that network of mentors, peers and investors, will really help you along the way. The startup (tech) industry in Asia has really evolved and developed that culture of ‘pay it forward’, with everyone happy to help out and offer guidance and support. Don’t be afraid to ask for help! Connecting and building relationships with investors early on even before starting to raise funds, is also important in building their trust and interest as they get to know more about you, your team and your business. This will help in ensuring a much smoother process when closing deals and for you to also know which investors are best suited for your business.

Connect

www.Purelyb.com

www.Facebook.com/myPurelyB

www.Instagram.com/PurelyB

www.Twitter.com/Purely_B

https://www.linkedin.com/company/purelyb-sdn-bhd

 

 

Entrepreneurship

Why Angel Investors are Shaking Up the Global Startup Scene

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Candace Johnson is someone who has made a global impact on our modern international telecom and broadcast business. She co-initiated the foundation of SES-Astra and SES Global, which today owns a fleet of 54 satellites and broadcasts 6500 TV channels. And she founded the world’s first Internet-based online service, Europe Online, making it into one of the first broadband Internet services.

But it was in her role as president of EBAN, the European trade association of several hundred business angels, which brought her to Eindhoven’s High Tech Campus recently. She explains why angel investors are making a difference to the global start-up scene and explodes several myths that surrounds the way they do business. She spoke with StartupDelta’s Jonathan Marks.

Building the match between angel investors and hardware startups

“People often think that angel investors are people who do investments around the corner, locally, or in services like e-commerce. To be frank, when the HTCE management told me that they were focussing on the hardware side of things, I was thrilled.”

“What I’m trying to do as President of EBAN, and having incubated MBAN (MENA Business Angels Network) and ABAN (African Business Angels Network) under my presidency, is to extend the scope of angel investments. The vast majority of angels are already tech savvy. But we need to educate our successful angel investors to invest more in hardware and infrastructure. We also need to help start-ups develop a pitch that speaks to the interests of angels, so they can get funding for their initiative.”

“We run the EBAN Training Institute with the goal of raising standards. We’re seeing more and more that the best angel investors are serial entrepreneurs. They bring their trusted network, expertise and experience to the table.”

“Money is important too, but it is not at the top of the list. Business angel investors are high net worth individuals who usually provide smaller amounts of finance (€25,000 to €500,000) at an earlier stage than many venture capital funds are able to invest. They are increasingly investing alongside seed venture capital funds.”

Angels are more important than most people know

“We follow the guidelines and standards developed by the European Venture Capital Association. For over seven years, during the depths of the financial crisis in 2008 until the recent recovery started, it was the angel investors who took over the role of early stage financing. More than €7.5 billion are being invested annually in Europe, with a sustained growth in recent years. Of that €5.5 billion comes from angels. In fact we have had to professionalize our profession to meet the demand of the growth in this early stage ecosystem.”

We always have an exit strategy

“Angel investors can only continue to invest if they have exits. I hear many people talk about investing. Only a few discuss exits. I want to change that. I also stress that proven entrepreneurial success is essential in order to become a member of our association. We need to ensure that useful “lessons learned” are shared with the start-ups. They are always based on hands-on real-world experience. We have no time for people who are using new blood to try and correct mistakes they made in their own failed companies.”

“EBAN was started in 1999 together with the European commission. For the first ten years, I think people were too focussed on the investing part. Now we need to focus on exits and returns on investment. Without returns, business angels are out of business. And remember there is only a short window of opportunity during which start-ups can scale-up to becoming global success stories”.

“Our feeling is that you should not make an investment in a company unless you can see the path for the exit. The exit may be a trade sale, an IPO, etc. The exit also does not have to be 100 %. It does, however, have to bring you a return on your investment so that you can continue to invest. This approach helps you focus on building great companies. There’s always competition in healthy markets, so no-one can afford to waste time. We’re not a charity; we’re doing this because we love building and financing global success stories. We’re therefore looking for companies with a real marketable product, not a prototype or a collection of well-presented ideas.”

Is there specific advice you can share with high-tech startups?

“In the last few years we’ve seen the rise of the accelerators alongside incubators. They have helped raise standards because a good idea needs to be validated by the market before it is the basis for a high-growth company.”

“As investors, we always need to see a start-up demonstrate that they have first clients and initial revenues. We’re not saying that they have had to scale or show market traction. But if we are going to put in our personal money, then we expect the founder to be resourceful enough to work out the first product, to have found the first clients and show us evidence of the first revenues.”

“The incubators who help get an idea into reality and the accelerators have been good at making startups better prepared for angel investment, offering the right coaching to turn an idea into a validated business. That means angel investors are better able to select the growth companies and focus on making a good return on their investment.”

Hanneke Stegweg

“We recognise that young companies need to present their business proposition to the angels attending our annual conference. So we’ve created ways that teams get immediate, honest feedback on the quality of their business presentation. We have one full day of preparation and coaching followed by a Global Investment Forum. The best go on to pitch to the entire network. This year, the “company to watch” category was won by Hanneke Stegweg, who is the Dutch CEO of the iLost company. Together with Neelie Kroes, I am keen to see more women founders lead entrepreneurial teams.”

What needs to change for things to move faster?

“We held this year’s EBAN congress in Eindhoven at the recommendation of several members. They all work in the innovation and financing of innovation field. But this region also came up in our discussions with StartupDelta. We have worked closely with Neelie Kroes when she was with the European Commission.”

“We were tipped off to the High Tech Campus specifically by our Russian members: the Russian Business Angels and the Skolkovo Foundation who are building the Skolkovo science park just outside Moscow.”

“And last, but not least, I know Eindhoven from my work in telecommunications and broadcasting hardware field. We often came here to work with Philips on the establishment of the DVD and MPEG-4 standards.”

“During our visit to the Brainport area it was clear that there is more than enough money in the region and a healthy appetite to invest in innovation. But there are some caveats that we feel need to be addressed.”

“Frankly, I think we are rather tired of the “nice-to-have” e-commerce companies. We would prefer to reinvest in world-class companies who are building something tangible, solving a real-world challenge. They need to demonstrate they can scale and become global.”

“We can see that the efforts by many have helped to raise the bar in the Netherlands and that’s good news for everyone. But remember there is a difference between entrepreneurs and SME’s. Entrepreneurs are the only ones to change our world. They create large companies, worthwhile employment, and that grows into large revenues.”

Failure is not an option

“We should get rid of this talk of failure being an option. If you’re taking angel money, it is NOT OK to fail.”

“If you take third party money, you have a responsibility as an entrepreneur to do everything you can to make a return on the investment of your business angel. The media keeps talking about friends, family and fools. But that’s nonsense! Founders, families and friends build great companies!”

“I have always been a free marketer at heart. Europe and The Netherlands need to create nations of investors. I believe in the power of private sector-led investment. Government needs to follow the leads set by business angels, not the other way round. We are investing our own money and using our years of experience to scale up these companies. An entrepreneur who is not willing to work and dedicate her or his lives 24/7 to achieve the goal should look elsewhere for money!”

“We’re fortunate that the EBAN network acts as a magnet for excellence. We were honoured to have the President of the European Research Council and the Head of Technology Transfer of the European Space Agency address our Congress to show us where the technology trends are going and where we should invest.”

“From a venture and entrepreneurial financing perspective, we were most grateful to our colleagues from the United States who joined with our European, MENA, and African colleagues to set the bar high in creating, building and financing global success stories. Amongst those joining us in Eindhoven from the United States were the president of the Global Accelerator Network from the USA, the president emeritus of the Angel Capital Association of the USA, the President of Start-Up Angels and Board Member of Up Global from the USA. We also welcomed the President Emeritus of the Crowd funding association of the US as well as the chairman of New York Angels. And we were delighted with the presence of David S. Rose, the president of GUST.com. These are some of the world’s best experts in angel investing.”

“They all said they were pleasantly surprised by the high standard of the startups that came to Eindhoven from all over the world. It was well above what they had expected. Start-ups from Africa, Middle East and Europe traditionally explain what they do, rather than explaining to investors why their idea is important. But that’s changing rapidly for the better. Entrepreneurs are also getting better at defining what they need in order to scale-up.”

NEXT STEPS : It’s all about active networking

“I should explain that in expanding our reach in Europe, with have formed alliances with the European Space Agency and the European Research Council. They also have their own accelerators and incubators. I think the onus is on the angel investor community to help bring this scientific community to a higher level of entrepreneurship. They need to think about the market for their inventions from the beginning. I believe we can help these organisations filter out the very best ideas and give those the attention they need to scale ideas into real businesses. There needs to be a validated market need for the technology they are developing.”

“We have two main events. There is the annual EBAN congress, this year in Eindhoven and next year in Porto, Portugal. And we run the EBAN Winter University, this year running from November 17–19th in Copenhagen. We’re doing this with leading organisations active in Europe’s creative industries. And all this is in addition to individual events and competitions organised by EBAN members at a local, regional and national level.

Increasingly we’re assembling cross-border syndicates, both between European countries and increasingly inter-continental networks linking Europe with innovation hubs in Africa, Middle East and North America. As companies scale and go global, it is important they have access to an international shareholder network. It’s a softer landing when they cross continents.

We also believe there is a way in which we can build partnerships with techno-business parks around the globe, led by the flywheel initiatives shown by High Tech Campus Eindhoven over these very fruitful days in the Netherlands.

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About the Author

This article was written by Jonathan Marks, Executive Director at Photon Delta. See more.

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Entrepreneurship

Myths & Facts about Entrepreneurship

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Today, there is a pervasive and nearly deafening mantra insisting that you quit your job and become an entrepreneur. The collective says you should do it today because every day you wait brings you closer to a life of poverty and regret.

A central theme in the entrepreneurial world is challenging the status quo and questioning conventional wisdom in search of new and better ways of doing things. If you’re just going to follow the pack, you may as well just get a real job and call it a day.

Entrepreneurship can be incredibly rewarding. Starting your own business may be the best decision you ever make. But it’s not for everyone. There’s a lot to consider before you take the plunge and a lot of myths to expose, starting with these.

Let’s take a glance at some of the Myths of entrepreneurship:

1. You’ll be Happier

Entrepreneurship can be incredibly rewarding. Starting your own business may be the best decision you ever make. But it’s not for everyone. There’s a lot to consider before you take the plunge and a lot of myths to expose, starting with these.

2. You’ll have more freedom, control and work-life balance

If you’re on your own, chances are you’re going to find yourself wearing all sorts of hats and working 24×7 for a very long time. Work will become your life. There’s nothing wrong with that, but not everyone feels more freedom and control that way.

3.You’ll be more fulfilled

Do we know what just about everyone loves to do? Great work that accomplishes goals they can be proud of. One can do that working for a big company, a small company, or their own company. Fulfillment has nothing to do with business ownership. If one wants to manage, lead, or run a business, it’s better off learning the ropes in a good company before starting your own.

4.There are no jobs; technology and outsourcing killed them all

It is shockingly untrue. If technology destroyed jobs, then which one will you call the most lucrative and fastest-growing industry on the face of the earth.That’s right: technology. If you can’t find a job, chances are you lack in-demand skills or education, in which case, yes, you might want to consider starting a small business which does not require much of exclusive skill sets in particular.

5.Entrepreneurs Live a Glamorous Lifestyle

That’s again untrue. Most entrepreneurs do not live a glamorous lifestyle; if they do, their investors should cringe. Entrepreneurs are notoriously frugal, hard working and opportunity-obsessed with little time for outside activities. These qualities are not hallmarks of the glamorous life.

Now,Let’s look at some of the facts of entrepreneurship.

  1. Most successful entrepreneurs succeed by exceptional execution of ordinary ideas: See Jiffy Lube, Starbucks and Charles Schwab.
  2. Most successful entrepreneurs concentrate on minimizing risk rather than taking huge risk at the time of starting their companies.
  3. Successful entrepreneurs use their innovative passion in many ways, such as buying companies, creating new ventures within larger companies and re-strategising nonprofits.
  4. More than 80 percent of new ventures are boot-strapped from personal savings, credit cards, second mortgages and the like. The median start-up capital is about $10,000. Waste Management began with a single truck; Sam Walton started with $5,000. So, in short access capital is not required to startup.
  5. Being first to execute well and delight customers is not at all important for success. A lot of startups have entered quite late in a particular startup industry and have done well.

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About the Author

This article was written by Utkarsh Sharma.

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