Challenges of an Entrepreneur- mentorship is the way.
“If you’ re absent during my
struggle, don’t expect to be present during my success” Will Smith. 27 years I
worked in a non-government organization (NGOs). It was easy and someone would
raise fund and I need to spend it. NGOs always have income and expenses but
never look into profit-loss as neither profit is shared nor loss is considered.
We are expected to spend what we plan and what we suppose to deliver. With this
mentality I was keen to start a company.
I entirely gave the responsibility to a
colleague of mine to start it. My plan was to start the company to bring young
people together, use their skills and share their experiences and share the
benefits. But my colleague did not understand my vision and started the
registration processes and considered both of us are 50-50 share holders. The
company was registered and started with big-bang. I tried to get a project and
we started implementing it. We all were delighted that we received a project in
the first attempt itself. As the installment started coming in, his attitude
started changing. Profit became the motive from the day one. Though money
started come in, he was reluctant to make payments to the people who worked for
the company.Finally I had to put in my savings and completed the projects and
while the installments remain in the bank accounts. From this experience I
realized that if one really want to
start a company, one should never rely on another person and one need to hold
on 51% of the share so that one becomes the decision maker and leader in that company.
After this experience I met many people who started company with 50-50
share holding, but most of them failed because one or other time both could not
work together beyond the honeymoon period. Do you want to learn more about how
to start a company, meet people who can guide you? Young Entrepreneurship
Summit is a place to meet and learn from it.
Mathew Mattam, is a youth activist and working for the livelihood options for the youth in India
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