Candid Look at Entrepreneurship and Personal Finance

More than 98% of entrepreneurs fail – yet the media is only obsessed with those 2% who succeed. What about those who didn’t make it?

Here are some invaluable lessons on personal finance for aspiring entrepreneurs:

1. Find your Ikigai
When the business is built around one’s passion, the journey becomes enjoyable, and the challenges invigorating.

2. Customer, not Venture Capitalist, is your financial lifeline
Focus on generating customer cash flow to fuel your company, not on Venture Capitalist funding or depleting your savings.

3. Cash Flow Matters Most
Prioritize stable cash flow over flashy deals or future promises.

4. Avoid Risky Gambles
Make sure that no bet-the-farm risks are taken in the pursuit of the chimera called fame & money.

5. Enjoy the ride
Balance growth with personal well-being. Allocate funds for yourself and your family, for vacations and retirement.

6. Secure your future
Don’t neglect your financial safety net. Maintain your PPF/NPS contributions even if other investments are paused.

7. Keep the finances separate
Maintain a clear distinction between your business and personal finances.

8. Work smart, not just hard
Your mental health trumps physical health, and both are more valuable than your net worth or the number of hours you work.

Building a sustainable business is a marathon, not a sprint. The true measure of success lies not in fleeting headlines, but in building a sustainable enterprise that enriches your life and those around you.