Stepping out of your comfort zone and starting something new has a way of triggering a psychological fear of failure. It is common for everyone, regardless of his or her achievements and experiences in life.
Entrepreneurs are more susceptible to this feeling as they bear the weight of creating something from scratch. The competition, the perfectionism, and the habit of constantly measuring ourselves to others makes the fear of failure as real as a limb. Taking actions becomes a daunting task while entrepreneurs keep running scenarios after scenarios in their head calculating risks and questioning everything. It is potentially a labyrinth, but fortunately there is a way out. Continue reading
Sure as an entrepreneur or business veteran, you would know how to push yourself to achieve goals. Pushing, challenging, or sometimes even coercing yourself to break the boundary and do more can offer expected results. But, to go beyond mere expectations and do miracles, requires motivation. What is motivation really? Is it just repeating ‘I have to do this or I can do this’ in your mind to keep yourself focused? Or is it something else entirely?
Motivation is a hunger that can drive you through emotional triggers to achieve the unachievable. It is what separates leaders from the herd, best from the rest, you from all the others out there. Sounds like something divine, and it is! However, to switch it on, you need more than just focus. Continue reading
India has made a quantum leap reaching approximately 9 GW in 2016 from a meagre 10 MW in 2010. Government departments and private players working in unison has helped in scaling such an achievement. However, intense competition has led to tariff wars, resulting in very low tariff rates. This trend dates back to December 2011 when a foreign company bid Rs. 7.49 for projects under NSM. 6 years later we are standing at Rs. 3.64 bid for 750 MW (250 MWx3) solar project in Rewa, Madhya Pradesh. Although, low solar energy tariff firms up the hope of reaching countrywide solar grid parity with conventional energy, bidders are finding it tough to get funding. Banks and private lenders are inching away from financing solar projects in India due to lower tariffs, seeing it as a cost risk. To explain the situation in a single sentence, we can say that low tariff rates in the solar industry are introducing high cost financing issues to the developers and industry players. Continue reading
Being an entrepreneur is rewarding, especially if you never throw in the towel and call it quits. And undoubtedly, those times will come when you might consider taking a few steps back. In those moments, it is perseverance that will get you through the confusion, self-doubt, and ebb & flow of your business journey. It sure sounds great to have a guidebook to navigate the ‘not so cakewalk’ that is entrepreneurship, with comparative ease. Sure, there are biographies of great men and mantras that can help you with time management, relationship building, and career development, but experiences that are given birth to by entrepreneurship are unique to every individual. Continue reading