Even though I have been through this phase many times in the past, each time is different – and tough to go through. We are at a time when (a) our revenues are less than expenses, which means we are losing money each month (b) none of our new ideas has generated significant revenue in the past year, and (c) the future looks brighter than ever before. (Of course, the last point may be an outcome of my perennial optimism!)
So, the challenge before us is quite simple, actually. We have to make ends meet. We have to become profitable. I have invested in the business for the past year, and we’ve made some good progress with our ideas. But now is when the rubber has to hit to the road. We have to start generating revenues from our new ideas. This is Priority No. 1.
It is a challenge. Envisioning things and building out on new ideas has been my personal strength. This has meant that I have not focussed as much as productisation and marketing. This is what is needed. We have an excellent collection of projects that we’ve been done in the past year. The time has now come to take them to market. That is the true test of our vision. Sometimes, I tend to think that just imagining the future is enough to make it happen!
It is a struggle and challenge, but each time I have gone through it, I have learnt a lot. It is not an overnight change that will happen – we have to battle it out. The game is for us to win – or lose. It is what every entrepreneur has to go through. It is that critical point in a business which can either create a great success story or leave it as “living dead.” Let’s hope this brings out the best in all of us. As I’ve said before, entrepreneurs have to manage both the long-term and the short-term.