What was your plan B if your current business didn't work out?
Business Marketing with Nika
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Arun Kumar Kankipati@kankipati_arun
As a product developer there are various aspects that are considered in development. While this makes a case for a simple plan B for any product developer to segregate the components logically and rationally use them to provide easier services till that time.
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@kankipati_arun Have you wondered about working in another area? Different from development?
@busmark_w_nika Sure but as I gain more experience in life and industry I see all that we progress with / proceed has to be development of some sorts. So it can be measured, and directed.
Figure out possible wrong assumptions and reiterate and pivot.
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Failure is not an option. 💪
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@aanshakov @busmark_w_nika Got what right? What's the context?
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@aanshakov @eonpilot Entrepreneurs should diversify businesses (not having only one but having many in several segments).
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@aanshakov @busmark_w_nika im biased because im a CTO. So my bandwidth is usually 100% maxed in the beginning of a startup at least. I think CEOs can become under utilised and can then do more than one, or invest in other startups etc. But personally I would never build a startup where I was ever underutlized. Even if I was the CEO. It's a lot of fun to wake up everyday and build that one thing. Until there is an org setup and it can run it self at which point you resign and do something else. If that's what you want.
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@aanshakov @eonpilot Yes, we are all unique and we all have our way of functioning, so it's perfectly fine that something works differently for everyone.
Don't put all your eggs in one basket. You've probably heard that before. Manage 2-3 projects. One of them should be focused on developing your personal brand. It will always come in handy for any new endeavor you undertake.
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@aanshakov Yes, this is so true. During COVID-19 I witnessed so many businesses crash (especially solely the fitness industry and wellness/beauty services, partially bars due to restrictions. Their founders didn't diversify portfolios into another segment so they lacked finances from another source to fund those failing businesses.