3P Mantra for product startups

Mr. Kiran Karnik, former President of NASSCOM, speaking at recently
concluded NASSCOM product conclave had given 3P Mantra for the Product
Startups.

Patience:

It's said that patience is a virtue and this certainly holds true in
practice. It is even truer in this fast-paced society where rush-a-holics and
hurry addicts are in the majority and companies seem to believe that faster
is better. Although patience is sometimes mistaken for sloth, it's the
patient ones who are the most effective time managers. They tend to think
things through before they act and focus more on results than activity.
Following are the few characteristics of patient enterprises.

1. Patient companies fully intend to accomplish all their goals but they
don't expect it to happen overnight. These companies recognize that time is
their ally, not their enemy, and that all goals can be accomplished, given a
realistic time frame. They will not hurry to go to a VC or taking the
company to public
2. Patient enterprises are not thrown off balance by momentary delays. These
enterprises utilize idle time by working on other tasks or new innovations
3. Although patient enterprises utilize idle time and waiting time rather
than get frustrated by the delay, they seldom perform two activities at the
same time if both activities require their attention. So they don't do sales
on a marketing platform.
4. These enterprise plan before they act. Consequently they make good
decisions, wise choices and sound judgments, achieving above average
results.

Persistence:

Know that persistence is the name of the game...and plan accordingly. Those
entrepreneurs that meet success do so because they had the ____ to push and
prod and coddle their business into existence.

They found a way to keep their business moving forward in a strategic and
precisely aligned manner. If something wasn't working for them, then they
changed the way it was done. They looked at their business from many angles
and found a way to proactively design their business to work the way they
needed it to.

"Energy and persistence conquer all things."- Your Entrepreneurial
Predecessor, Benjamin Franklin.

It is very important in sales. Today's "no" doesn't mean, No forever. You
have to keep calling your prospective to customers. It is better to revisit
your sales tracking once in a month and give hello calls to everyone in your
list.

Passion:

Passion but passion is most important for every entrepreneur. Passion is a
beautiful thing. Passion is what keeps you awake at night because you are so
excited about what you are building. Passion is what makes you work on
weekends. Passion is what blinds you to imaginary hurdles. Passion is what
makes you deaf to destructive criticism. Passion more than makes up for lack
of money. Passion attracts talent. Passion attracts customers. Passion
brings pride in what you are doing. Passion sells your product. Passion
sells your dreams. Passion makes you think differently. Passion makes you
less greedy. Passion is what helps you get up after a bad fall. Passion is
what builds great companies. Passion is the only hope for a startup.... and so on! One can go on writing about PASSION!

Thanks to kesava for sharing this