Also read: The Bug Called ‘Entrepreneurship’
Not everything goes in accordance with the plans we make. Future is unpredictable, yet planning is the crux of any assignment. Plans take into account any unforeseen contingencies, but do they really define and shed ample light on what these conditions will be like?
In a recent move in the Indian economy, high denomination bank notes of INR 500 and INR 1000 have been stripped off of their legal tender status. That has come as a shock to all, from a common man to politicians, bankers to economic prophets. There, however, is one sector that benefited the most from this unanticipated move, not hard to tell, enterprises in digital wallet business.
While news channels were debating the pros and cons of demonetization by the government, these businesses were full of activity. They were fortifying their credentials and technology to manage more and more users every passing minute.
To the smartphone users in metro cities, wallets like Paytm were an identifiable scenario, no one, however, could have imagined cobblers and vegetable vendors collecting payments via this digital platform. And yes, this truly happened. The company would have seen record downloads and transactions, a ramp up they never planned but occurred by the grace of luck.
What does this one incident tell entrepreneurs? Never believe that your idea is a failure in cases where initial bumps and setbacks tend to appear as a permanent wrap up.
Let us assure you of an undisputable fact that the present world and its markets are undergoing a revolutionary period. While past brick and mortar setups and offline trading have lost their sheen, information technology is changing all norms at an unexpectedly fast pace.
Your idea didn’t work? No worries! Let another idea thrill your mind and soul. Let them flow like free rivers. And do know one basic point, it wasn’t the idea that failed, it may have been unplanned implementation, or just bad timing.
This is a spell where a lot of amateurs will turn into real game changers. The call is yours, if you have failed once or twice, or you are into the first one, let not failure undermine your spirit!
Also read: 12 steps to starting a business
