Raj Abraham Explains, Why You Should Start Early To Be A Successful Entrepreneur.

Entrepreneurship isn’t a career; it’s a lifestyle. You can either choose to play safe & die unknown or try to build something bigger than yourself. Remember what Mark Twain once quoted-

“Twenty years from now, you will be more disappointed by the things that you didn’t do than by the ones you did do, so throw off the bowlines, sail away from safe harbor, catch the trade winds in your sails. Explore, Dream, Discover.”

So, if you want to take charge of your life and do something that gives you the liberty to tell your younger children after 15 years that “You Chose Your Life; You Didn’t Settle For It,” then this is the right time to get the show on the road. Here are a few points that justify why starting early as an entrepreneur is the best decision you’ll ever make.

No Family Pressure:

The best time to switch to entrepreneurship is when you’re in the 20s and living a bachelor’s life. This is the time when you can afford to fail over and over again without worrying much about family responsibilities. Initial few years as an entrepreneur are most challenging, and one thing you may not want during this period is someone else at home suffering along with you.

Fewer Financial Commitments:

As you grow old, you realize that financial burden and family responsibilities build-up with the passage of time. Home loans, personal loans, household expenses, children’s school fees, medical expenses, etc. can distract you from your mission to create a life on your own terms.

When you’re young, you don’t have to deal with these many financial commitments. Not all the ideas turn into successful ventures; in fact, most of them fail. So, rather than failing at a time when you can’t afford to take a risk, it’s always good to do it when you have fewer financial commitments.

Adaptability To New Technologies:

The world is changing faster than you may realize. New technologies are being introduced every day. Gone are those days when you had to travel 20 miles a day to set up a business. Now, you can simply use the internet and build a million dollar business without moving even an inch from your desk.

Even if you don’t come from a technical background, you can start a blog or even a YouTube channel. People are making tens of thousands of dollars every month. Why can’t you? This is the time when you can learn new things and adapt technological changes, which won’t happen so easily after 15 years.

Risk Appetite:

When you’re young, your risk appetite is high. You can afford to fail and start over again. Once you grow older and have a family to take care of, you’ll want to choose a peaceful family life over your entrepreneurial dreams. So, risk everything now and figure out if it’s worth a shot rather than give up your dreams and spend a compromised life at a later stage.

Motivation & Energy Level:

You may not find it in any book, but the truth is younger professionals have more motivation, energy, and enthusiasm as compared to elders. The latter may have more experience and knowledge of how things should work, but they can’t beat youngsters in terms of motivation and energy level. It’s the time when you can switch careers, start different businesses, fail often and rise again to see what works for you and what not.

All this can be done when you’re young. As you mature, you’ll tend to avoid starting something which you have no idea about. So, if you are still in your 20s and have a killer idea that you believe can change the world and solve a real-time problem, throw yourself into it and become an entrepreneur.

Remember one thing – “Society is going to judge you anyway, so do whatever you want to do…. No guts no glory.”

Raj Isaac Abraham

Entrepreneur

https://www.facebook.com/Raj-Isaac-Abraham-765159050257036/

Raj Abraham Explains How Should Entrepreneurs Scale Up Sales

Common sales wisdom dictates thoughts such as “does your product solve a problem” or “do you add value to a customer’s life”. In today’s competitive world, and abundance of social interactions, most entrepreneurs would have engineered their product or service around these questions and prototyped to a stage where they could confidently claim that their products do, indeed solve problems and add value.

The next stage in the entrepreneur’s life cycle emerges when she goes to the market to “sell” her offering. Decidedly, the commitment and passion result in the entrepreneur outdoing herself and emerging a winner when it comes to pitching and putting in the hours to convince the customers of the value of her products. Without her knowing it though, the process of selling the offering somehow becomes a unique part of her personality and when the time comes to scale, the message that the entrepreneur wants to transfer to her salespeople gets lost in translation.

There is a real danger of sales teams following basic sales principles instead of the process that the entrepreneur used to make the service/product a success, as a result, sales execution is not upto the mark and the “magic” the entrepreneur promised investors is missing.

There are some elementary steps that the entrepreneur can follow to ensure that the sales scale up is a smooth process:

Designate the salesperson

Within the set of founders, identify the founder who will lead sales. Two people cannot do the same job and should not do the same job when scaling. If there is a single founder, hire a competent head of sales since other functions will require the founder’s attention.

Hire strong trainers and institute an excellent training program Training of sales is the most important part of scaling, an often un-utilized feature, especially in field sales. Hiring right trainers is an even more important part. Once trainers have been hired, sales training should focus on a few key aspects to ensure strong field performance.

1. Pitching:The importance of a pitch is most effectively illustrated in luxury car sales. Entrepreneurs would be well served by a visit to vendors in this industry and try a comparison with economy car sales. The difference is very striking. On one hand, you have the luxury car salesman pulling out stops with crisp pitching, outlining problem statements, offering solutions and demonstrating performance and on the other hand you have very little pitching on key performance indicators from economy car salespeople.
2. Handling Objections:Understand the root cause of objections: Fear, Uncertainty or Doubt and then build a training that shows how sales reps can overcome objections by addressing each of those emotions before moving to close a sale. It is also important to institute role plays for sales to understand real life situations before moving into the field.
3. Closing Sales:Sales closure is another very important part of the sales cycle, and training effort needs to ensure sales reps understand the techniques used by modern sales industry to ensure the customer finally pays for the service/product.

Build a process

The magic needs to be recreated and replicated en masse. The end result needs to look like clones of the entrepreneur herself, as if she were representing the company on the field. The process building begins with the entrepreneur identifying each intervening step from opening a sale to closure in the sales cycle, which also includes delivering the service/product. This process needs to be drawn out and drilled into the minds and hearts of sales reps. Without a process, sales would be weak.

Manage the process

The process once built needs to be managed end to end. Each point in the pipeline should consist of some data collection, which should be analyzed.

Raj Isaac Abraham

Entrepreneur

https://www.facebook.com/Raj-Isaac-Abraham-765159050257036/

Raj Abraham Explains How To Overcome Excuses That Kill Entrepreneurship

You’ve always wanted to be an entrepreneur, and you finally have your business idea. It’s a great idea that solves a huge problem in an elegant way.

This idea can scale, and go global. There’s no one in the space today, or the existing players are weak. You think about this idea day and night, and you dream about starting the company and making it real. But, for some reason you just can’t do it. It just seems too risky…plus you have a great job. Sound familiar?

Many people simply talk themselves out of starting their own business. Before I started my company, I had a million thoughts about why it was an insane idea. In retrospect, I see that what I thought were legitimate fears were just excuses.

Below are the most common reasons I have heard from peers about why they can’t start a business, and some advice on how to get past the issue:

1. “It’s not the right time.”

I know people who became entrepreneurs as teenagers, and others who started their first company in their 60s.

Here’s a secret that anyone that has started a business knows: There is NEVER a right time. It just does not exist. You can always convince yourself that you need more money, experience, time, connections, confidence, skills, business acumen…the list goes on and on.

My advice? Have faith that now is actually the perfect time. A year or two after you have started your business, you will see that it absolutely was.

2. “What if it fails?”

Entrepreneurs tend to be people who are filled with such confidence that they don’t focus on any chance of failure. But the tough fact is that 80 percent of businesses fail within the first 18 months, and it can be paralysing to face those odds.

My recommendation is to embrace the possibility of failure. Why? Because if you fail, you will learn something tremendously valuable about yourself, about business, and about life.

You may start another business, or you might realise that entrepreneurship isn’t for you. But if you don’t try, you will simply never know, and the fear of failure should never stop you from doing anything.

Remember, people who are on their deathbed usually regret the things they didn’t do, not the things they did.

3. “I haven’t saved enough money.”

Many people who aspire to start businesses are the primary breadwinner in their family, and they cannot afford to live without a salary coming in. I recommend that anyone who starts a business save enough money to live for 18 months without income coming in.

If your business hasn’t gotten enough traction within 18 months to produce income, and you don’t see a light at the end of the tunnel, then you can shut the business down and get a job with the satisfaction of having given entrepreneurship a shot.

What I like about the “18 month rule” is that it provides clarity to yourself (and perhaps your spouse), and it makes it easier to quit a lucrative job because you have a plan.

4. “People don’t see me as an entrepreneur.”

First of all, as a budding entrepreneur you have to ignore what others think of you because there will always be doubters in your life. Avoid those people if you can. But more importantly, if you take the leap and start your business, you will be stunned at how fast people who were originally naysayers will see you as a born entrepreneur.

Perception is reality, and when you are the boss, you will be seen as a leader despite the fact that you used to be (for instance) a customer service manager, a payroll clerk, or a janitor. In America, people respect those who have taken a chance and put their reputation, capital, and career on the line.

5. “It just seems so hard.”

You’re right. Starting a business is very hard. It might be the hardest thing you’ll ever do in your life.

You will lose sleep, fight with your spouse, have less time for your kids, and potentially lose all of your money. Have I scared you yet? I hope so. Because there is no getting around this one – if you aren’t ready to work your tail off and get your hands very dirty, don’t even think about starting a business.

If starting a business was easy, everyone would do it. The easy decision is to keep working for that secure pay cheque, and that’s exactly why most people don’t start companies. My advice is to be very honest with yourself, and if you know deep down that you can make it work, then take that leap of faith and make it work.

Raj Isaac Abraham

Entrepreneur

https://www.facebook.com/Raj-Isaac-Abraham-765159050257036/

Raj Abraham Give These 8 Ways that Being A Young Entrepreneur Changes You

In many ways being an entrepreneur becomes a way of life. You live and breathe the business and there are bound to be new personality developments that you start to discover about yourself as your business grows

In own words:

In my journey with Morning Fresh, I have had the privilege and pleasure of interacting and working with fellow entrepreneur’s and find a lot of common traits that develop-

1. Understand the value of money

Most entrepreneurs that start out with small businesses, especially self-funded/bootstrapped companies know the perils of working within tight budgets, spending wisely, the joys of earning and the complexities of growing money.  This invariably impacts your personal spending patterns- Where can I get a good meal that isn’t too expensive? Is that gym membership worth it? Should I invest in a bicycle or continue to use public transportation? How much did I spend on cabs this month?

2. Clarity of thought

As an entrepreneur you are the driving force behind the team, the face of the brand and the single point of direction and vision. From your brief to your social media team, budget allocation, vendor and client management – your communication internally and externally has never been more paramount. This requires entrepreneurs to consistently have clarity in thought and action, so when you are out of the workplace you might find yourself processing information and articulating your thoughts more clearly than you did before.

3. Your networking and you don’t even know it

You could be at a cousin’s wedding, a concert or at the gym and you get into an interesting conversation and before you know it, you make a mental note of these individuals and how you could potentially include them in your business or he/she accidentally gave you a great idea, whatever it is, you likely come out of the conversation with a business card.

4. Your instinct becomes your new BFF

As an entrepreneur you are likely surrounded by mentors, well-wishers, investors and would often seek guidance in moments of doubt and uncertainty. There are many times when even those within the inner circle have conflicting views and as time goes I think you increasingly realize that listening or being aligned with your instincts is the best way to deal with any situation.

5. Enjoying your own company

In the middle of all the to-do lists and hectic schedules, you find solace in isolation and giving yourself the mental space to organize your thoughts and reflect. If your one of the more well practiced loners, you likely have a thinking space or cathartic activity that helps you achieve this state of mind – washing the dishes, taking a shower, driving your car, listening to the radio or reading a book.

6. Fitness freak’s

As an entrepreneur, your full time job is to ensure the well-being of your company; it is also an extremely physically and mentally demanding job.  In order to keep your business healthy you realize you need to keep yourself healthy. Most entrepreneurs’ either find an exercise routine that works for them, join a gym close by to work/home, have a treadmill at their office, own a fit bit and proactively work towards healthier diets.

7. It’s all about being practical

The number of key decisions made on a daily basis for an entrepreneur is countless, sometimes you reach a bottle-neck or have tight timelines and the only way to keep moving is to find a practical solution that works for you. This persistent need to be practical subconsciously affects many of our lifestyle choices. Swap those corporate heels for good looking sneakers? Invest in a great pair of pants that go with multiple occasions? Carry your bag-pack or sling bag instead of that fancy tote? Get a smart but low maintenance haircut rather than one that requires daily styling? Your natural priority shifts to being more functional and practical.

8. The coffee shop connoisseur

Before you know it, you become a yellow pages for the best coffee shops and community work spaces in the city. You know who has the best Wi-Fi, the best sandwiches and likely have a loyalty card or favorite spot to sit at (bet you know where the plug points are too!)

Raj Isaac Abraham

Entrepreneur

https://www.facebook.com/Raj-Isaac-Abraham-765159050257036/

Raj Abraham gives these 8 Reasons of Failure that Makes You a Better Entrepreneur

Humans are preconditioned to avoid pain and to move toward pleasure. We avoid failure because we associate that with pain. As a society, we also view failure as a sign of weakness and defeat.

However, you may be surprised to know that you should embrace failure and fail often. Here are eight reasons why:

1. Failure is a great way to learn.

Those who fail the most, learn the most. When you fail, you learn what works and what doesn’t.

Venture capitalists have been known to invest in entrepreneurs that have undergone multiple entrepreneurial failures. For some, an entrepreneur who has never experienced failure is untested and has not learned from adversity.

2. You discover what’s missing.

Failure is simply a signal that something is missing. Failure reveals what needs to change for you to succeed. Through failure, you uncover gaps in yourself, your strategies, your systems, your business and your team. You learn where your weaknesses or limitations are and what needs to change or be improved.

Through failure, you discover where the obstacles are. You can then formulate a plan to push through the barriers, climb over them or go around them.

3. Failure makes you pause.

Failure forces you to pause. It gives you time to analyze what you are doing and consider whether you should be pivoting, continuing or giving up. It makes you consider, “How badly do I really want this?”

Without time for reflection, you may end up wasting effort, energy, resources and time on the wrong ladder.

4. Failure may be a sign of coming success.

Failure can be a sign of coming success. Big failures are often accompanied by big achievements. You cannot hope to achieve anything of real substance by staying small, insulated and safe.

5. Failing often builds an immunity to fear.

A fear of failure limits you. If you are afraid to fail, you are also afraid to take risks and scale fast. A fear of failure stumps growth. By failing often, you learn to build an immunity to fear. When you are not afraid of failure, you can embrace feedback and not be paralyzed by criticism.

6. Failure builds entrepreneurial character traits.

Failure is necessary for the building of valuable character traits for entrepreneurial success. Character traits such as tenacity, perseverance, and resilience are all vital for any kind of long-term success. Your ability to push through failure where others quit will lead you on the road to success.

7. Failure sweetens success.

Success is so much sweeter after you have experienced failure. When you can recall humiliating moments of failure before you achieved success, the success feels so much more valuable. You also don’t take success for granted because you know how hard it was to come by.

8. Failure makes for a great comeback story.

Failure makes excellent comeback stories. Remember how Steve Jobs was fired from Apple, the company he founded, before returning back to it just over 10 years later as its CEO? Failure makes you more “human” to others. It makes you more relatable. Failure that is earned and didn’t come easy increases others admiration of you.

Failure can also motivate the people around you such as your employees, your investors, and your peers to work harder for you, stand with you or offer more assistance.

There is another great advantage of having multiple failures on your belt — it keeps you humble. An entrepreneur who has never experienced failure tends to be arrogant. Even worse, this arrogance can feed the false belief that you are infallible and expose you to devastating mistakes down the line.

Failure may hurt but we should view it as a positive experience. We should fail and fail often. Because in doing so, we also open ourselves to opportunities for success.

Raj Isaac Abraham

Entrepreneur

https://www.facebook.com/Raj-Isaac-Abraham-765159050257036/

Raj Abraham Says, "Want to be Successful? Have Fun, Seriously."

“I just don’t get how you can work those crazy long hours like you do,” Mike said. “Don’t you ever get tired of it?”

“Don’t laugh but, to me, this is fun,” I told my fellow engineer. “When it stops being fun, I’ll do something different. In the meantime, this is it.”

That conversation was more than 30 years ago, but I remember it like it was yesterday. It was a defining moment in my career. I was not just answering Mike’s question but making a life decision, right then and there.

That day, I made a promise to myself: If my work ever stopped being fun, I would quit and find something else to do. I have kept that promise all these years and it is paid off in terms of an incredibly fulfilling and lucrative career.

Do not get me wrong. Not every day, week, or every month is a blast. We all have responsibilities we would rather not deal with. And there are external factors you cannot control. Markets tend to be cyclical, so there will always be tough times. When making important career and business decisions, you have to take the long view.

Look at it this way: If your goals are to be financially successful, have a fulfilling career, and live a relatively happy life, of course you have to make some compromises. There will always be tradeoffs. But I am here to tell you that you can achieve all of that and have fun doing it, but there is a catch. There is always a catch.

The catch is you have to know your priorities and stay focused on accomplishing your goals. You cannot just love what you do. You also have to work hard at it and become very good at it. You have to fulfill your responsibilities and meet your commitments. And whatever you do for a living, it has to be marketable.

If all that sounds like a lot, then you are beginning to get the picture. You are beginning to understand why, if you want to do what you love for a living and have fun doing it, you have to spend a pretty big chunk of your life doing it. And you cannot waste a lot of time screwing around with nonsense.

That does not mean you cannot have a life. I have a great life. But my work has always been an integral part of it, and that is by choice. Being an executive in the tech industry, a management consultant, or a business writer have never been just jobs to me. I love the work. And I actually find news and events related to those fields fascinating. I really do.

That is where this gets interesting. I cannot say I have ever given work-life balance a moment’s thought. I have not had to. I am a hard worker by nature and I like doing things that matter. Some of it I get paid to do, like consulting and writing, and some of it I do not get paid to do, like working around my home and property.

Sure I have all sorts of interests, but my philosophy on life has always been the same—stay focused on your goals, priorities, and work and have fun doing whatever you do—and I have remained true to that theme all my adult life. I do not think in terms of what I should do, what others do, or how they do it. I could not care less about any of that.

Look, this is not rocket science. It all boils down to one simple concept. If you want to be successful and have fun doing it, you have to make that your main focus in life and stay true to yourself. You can achieve anything, but only by finding your own way of doing things that works just for you and making a promise to yourself to stick with it.

As I always say, nobody ever got anywhere in life by doing what everyone else is doing. Nobody ever made it big by following the crowd. Leaders lead. Followers follow. You cannot do both.

Raj Isaac Abraham

Entrepreneur

https://www.facebook.com/Raj-Isaac-Abraham-765159050257036/

Raj Abraham Share These Little-Known Characteristics of Successful Entrepreneurs

The world of entrepreneurship is surprising. Once you enter it, you either love it or hate it. You’re either addicted or turned off. You realize you can go further than you ever thought possible and work harder than you thought you were able.

Some of the most surprising things I’ve discovered have been the traits of other successful entrepreneurs. For all the “traits of a successful entrepreneur” articles you’ve probably read, you might easily overlook some of the most fascinating and curious traits of all.

Here are some of the surprising characteristics I’ve identified in most successful entrepreneurs.

1. They are self-taught.

2. They live frugally.

3. They have worked menial jobs.

4. They give back.

5. They pursue happiness.

6. They are introverts.

In reality, there’s no such thing as a “prototypical” entrepreneur. There are simply entrepreneurs. They may look weird, different, attractive, uninspiring or downright shocking.

Binding them all together is that entrepreneurial drive and can’t-shake-it passion. Simply put, we’re going to build things, go places and make stuff happen.


Raj Isaac Abraham
Entrepreneur

https://www.facebook.com/Raj-Isaac-Abraham-765159050257036/