Business 101

Trade by Choice

Your Ancestors Were Entrepreneurial

They were skilled at a trade.

From farming to producing textiles, people contributed to their community.

Back then, a physician would offer care in exchange for goods and services of equal or greater value. Throughout the ages, the value of specific goods and services became defined throughout a marketplace. To keep people aligned around this system, money was created. This currency negated bartering; though, many continue to barter today.

A Personal Story

When I was a kid in India, my grandmother’s sister would haggle the vegetable merchants at their stalls. My attempts later in life did not go as well. However, I learned very quickly that relationships are invaluable. As I visited Mumbai throughout my life, the merchants remained the same. They’d remember me and I’d share a kind smile because I remembered them, too. Although the cost of their goods and services rose, I didn’t mind offering extra coin. After all, these were neighbors—my community.

A Shift In Business Mindset

Today, the world is much different.

Multibillion dollar companies have made it challenging for small businesses to thrive. Many small businesses yearn to become as large as the corporations that hinder their growth. The only options to succeed are either disruption or acquisition.

What Is A Business?

The vegetable merchants in India taught me that every business has a heart, spirit, and personality. The business is just as human as the entrepreneur who created the venture. Therefore, a business is an extension of an entrepreneur’s dream—rooted in providing a value to the community. So, if you’re thinking of starting your own business or growing an existing one, ask yourself:

1) Why am I passionate about this business?

2) Does my community really need what I want to offer?

3) Why do I care about my community?

Advice

I started a creative agency when I was in college. Years later, I founded a CPG venture to raise money for charities.

Starting a business isn’t easy. You’ll have to make a lot of impossible choices. Eventually, you’ll realize that anything is possible once you begin to understand what your customers need and what it takes to navigate your marketplace. A lot of entrepreneurs will be tempted to use their own money to fund their business. I’d advise against this. Instead, try to raise capital or get a business loan.

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