I know that you have read a lot of articles of our very own Byju Raveendran in the recent days, where BYJU’s made a huge impact on most students life, and this year 3rd Quarter it marks profits for hopping amount 20 crores in Financial Year 2019.
Before going with the success story let me share the journey of BYJU’s, The Learning App.
So it all started in the year 2008 as Think and Learn Pvt Ltd since from inception Byju Raveendran believes that tomorrow will be better than today and the next year will be better than this year, which keeps him moving forward.
So he started with offline classroom, and continuing for this many years. In 2015 Byju Raveendran started with the Learning App. Thanks to the Digital Revolution, after there’s no turning back.
And it marks the growth of 1341 crore in 2019, which just started with 4 crores annual growth in the 2011-12 financial year. Every year they were doubling their revenue growth; you can refer to the Infographic below.
BYJU’s Revenue Growth
Initially, Byju had 30-40 students at Jyoti Nivas College. And Within no time 1200 students signed up for the class by spreading word of mouth.
To read more about Byju’s success story do check the article in YourStory.
So what we understand here is when belief in something, go constantly towards it, because every day is a fresh beginning and you will be going out there to do something which you have not done yesterday.
So thinking smart and following your instinct can take you a long way ahead.
Apart from being innovative and thoughtful, you need to have certain additional traits that will help you in becoming a successful entrepreneur. I have seen many entrepreneurs becoming successful as these qualities have helped them to fly and add wings to their dreams.
“Always be yourself, express yourself, have faith in yourself, do not go out and look for a successful personality and duplicate it.” – Bruce Lee
So how can you make it for the long run?
This is what I can understand with the Byju Raveendran Entrepreneurial journey.
1. Passion, the key Driver to Success
I find passion as one of the key motivators and driving factors for any venture. If you can spend hours and hours thinking about your one dream or passion in life, you are halfway through to be successful.
I see many people are excited about something on day one and after 10 days I find them getting indulged in some other activity. This is not passion. This is just an interest in Success, not a passion.
I would say your passion will be like an addiction which will spread like a disease. As soon as someone comes in contact with you, they are for sure to get addicted. Some will believe you while some may not. The ones, who believe you, will join you.
Never feel bad if people are against you. If you hear a lot of criticism, don’t worry, this is a clear indication that you are going to do something BIG in life. If you don’t get criticism then you are doing something small.
2. Grabbing the Opportunity at the right time
Passion clubbed with an opportunity, grabbed at the right time, is the ‘Guru Mantra‘(Success Formula) for becoming a successful entrepreneur.
Many entrepreneurs are not able to visualize whether an opportunity is right or not. Capitalizing an opportunity and turning that into success is also an art.
However, entrepreneurs who are passionate, have an inherent ability to turn small opportunities into successful enterprises.
3. Your instincts and ‘Gut Feeling’ will help in Decision making
Success not only comes from hard work but also from the way you decide on the important things to accomplish. Your data can only give you an impression but converting that impression into a real image is your work.
This confidence comes from what lies within you, your instincts and your gut. Even if your spreadsheet is not providing you with any direction, your inner voice will guide you to make the right decision.
This is far stronger than any data management activity in the entire world. Listen to that voice rather than searching for logic in spreadsheets.
4. Build your Team and Believe in Teamwork
Nobody in this world can do all the things by themselves. Entrepreneurs need support and skills of people to replicate the activities which will help them to be successful.
Successful entrepreneurs realize the strength that lies in team working. They would have people in their team who can do things that they cannot do themselves.
Building a team that buys in your idea and works towards a common objective would be beneficial for your business.
5. A Strong Implementation Plan
One of the key factors for any successful entrepreneur is his ability to implement his plans on the ground. I have seen many people who can plan well; however, they lack the skills in creating an effective implementation schedule.
As an entrepreneur, you should be capable of turning your dreams into reality. People like to see results irrespective of the fact of how you get them. The plan plays a secondary role, once your key results are achieved.
I hope I was able to throw some light on the secrets of becoming a successful entrepreneur. The definition of success differs from person to person. This is what success means to us.
“Can I know what success means to you?
Let us know in the comments section.