A quick bio
Nine years ago Heshan de Silva was a suicidal, alcoholic, drug-addicted dropout. Seven years ago he used US$116 to start a small insurance business. Today the 26-year-old Kenyan venture capitalist, founder of the De Silva Group, is worth over $10-million.
He wrote an article on capital fm on the difference between an entrepreneur and a ‘wantrepreneur’ .
This is what he had to say.
Work hard and smart
Yes, you’ve probably heard it a million times but how many of you actually understand what working hard in a smart manner means? Is it going to an office, sitting on your desk and doing what you’re told to do? Standing in queues at banks and county buildings waiting to get permits or deposit payments? If you’re filling your time doing mindless tasks in the name of ‘work’, you aren’t really working smart. Always work towards the growth of the company, not stagnate it by focusing on micro tasks. We all have 24 hours in a day, how you choose to spend yours will define your entrepreneurial journey.
Receiving funds is just the start
Too many entrepreneurs see raising capital as the light at the end of the tunnel. That they’ve achieved what they wanted because someone believed in their vision. When you raise capital, your work has only just begun. Money comes with commitments and commitments come with sacrifice. Make sure you do everything in your power to minimize the sacrifice at your end, otherwise you will be treading deep water for a very long time.
It’s harder when you are poor, but not impossible
We can talk about ‘hope’ and optimism till the cows come home, and that if you stay positive good things will happen. Truth is, that is only part of the equation. Many entrepreneurs lament about how hard it is to be heard, that they don’t have the right connections or finances to open the correct doors for their business to grow. Frankly, that’s nonsense. Yes, it’s easier when you have money and social standing – it also means that when you don’t have those two components you have to try harder. You won’t get a reply the first time you send an email. Heck you may not get a reply for months. You won’t get a reply to that tweet you sent out either. You have to stay hungry during these times. Try harder. Never accept that you’ve done all you can to get to where you need to go, because if you still have breath and haven’t achieved your goals – you need to keep going. Become innovative in your approach to companies, refine and refine again your pitch and business concept, and don’t ever let yourself stagnate and start regressing. As Mark Cuban said, “It’s not about money or connections — it’s the willingness to outwork and outlearn everyone. And if it fails, you learn from what happened and do a better job next time.”
Don’t be afraid of criticism
As an entrepreneur you need to treat your company as an extension of yourself. That is both good and bad.
The bad aspect is that we become emotional when criticised. Trust me, as you grow – you’ll receive your fair share of criticism and more. Learn to take it positively. It doesn’t matter what people say to you, what matters is that you are able to analyse it – use the positives – improve what needs to be done, and move on. Never be so arrogant that you believe you know more about anyone on the subject of your company just because you own it. There is always something to learn from criticism; learn it and move on.
There is no such thing as over night success
So don’t waste your time thinking you can become one. No one has. Every story of success has a hundred stories of failure, and that’s perfectly normal, because all you have to do is strike it big once. People will brandish all sorts of titles to your name proclaiming your brilliance and speed of growth – never forget all the failures and rejections you came across a long the way. And never forget that it can take a very long time to achieve that big win you’re looking for.
What separates entrepreneurs from wantrepreneurs is a hunger for victory in the business world that cannot be satisfied with money. It is a desire to keep growing, to need to be the best, and to not stop irrespective of the hurdles faced.
Are you hungry enough?