Home / Lifestyle / Culture / Article / How networking platforms double up as strong mentoring sources

How networking platforms double up as strong mentoring sources

Being a first-generation entrepreneur or a start-up founder can be a lonely job, with various roles to juggle single-handedly

Listen to this article :
This picture has been used for representational purpose

This picture has been used for representational purpose

The past decade has seen a wave of disruptive entrepreneurship across sectors, thanks to factors like technology enhancements, pro-SME/MSME government policies, open international trade opportunities, and focus on skill development and vocational training. According to the Global Entrepreneurship Monitor (GEM) India Report 2016-17, prepared by Entrepreneurship Development Institute of India (EDI) and its associates, 11 per cent of India's adult population is engaged in "total early-stage entrepreneurial activity (TEA)", which makes them first-generation business entrepreneurs. India's Start-up ecosystem is one of the fastest-growing in the world, with over 190 deals worth USD 4 Billion closed in just Q1 of 2019.

However, despite the buzz and the glamorous funding opportunities, the ground realities in the sector can be quite disturbing. Being a first-generation entrepreneur or a start-up founder can be a lonely job, with various roles to juggle single-handedly. This often also leads to an overwhelming pressure of execution and micro-managing the business, and ultimately losing track of the larger goal and growth opportunities. From cash flow constraints and challenges with scalability to internal difficulties with hiring and retaining talent, competing in an almost global market, legalities and accounts, self-doubt, long-term business planning and strategy to overall business positioning and goal setting, are all extremely vital factors that need to be addressed for the business to be successful. Despite a brilliant innovation and the right mix of service and solution, most entrepreneurs and start-up have difficulty holding on to the market and eventually fail. Even the ones with a glamorous round of funding lose track of strategic growth and spend chunks of the investor money on marketing and offering discounts, eventually burning out!

How do you like the new new mid-day.com experience? Share your feedback and help us improve.

Read Next Story
Author Kary Oberbrunner helps people discover who they are

Trending Stories

Latest Photoscta-pos

Latest VideosView All

Latest Web StoriesView All

Mid-Day FastView All

Advertisement