They say starting a business is like planting a seed. In a generic sense, I completely agree with it. It is a very popular comparison. It outlines the process of developing a business. Particularly startups.
Let’s say we have just started a business. Like planting a mango seed.
We cannot expect mangoes within a month, by planting a mango seed. Each kind of tree has its own time to grow and bear fruits. For instance, a mango tree might bear fruits in 5 years but an orange tree might bear fruits in 3 years. We should choose our tree depending on our threshold.
If I had to choose a tree, I would go for a tree where I could sell some leaves and branches on the way. While the tree grows to bear fruits in the maximum time. Identifying byproducts helps to diversify revenue streams, and generates cash flow.
But first, we have to sow the seed in a proper position, in a friendly environment. Then timely water it. When it grows to be a plant, we will have to make sure it stays healthy by giving it proper nourishment. By getting rid of the harmful insects. We let the roots develop. The plant will grow to be a tree if we really care for it.
When the time comes it will bear mangoes. Mangoes as the return on our investment. Return on our time, hard work, money, sacrifices and so on.
Hold on! Mangoes are not our real return on investment. We have only just got a peek at our return on investment. The return is not achieved yet. We will have it only when we can sell those beautiful, happy mangoes. Selling those mangoes is as important as producing those mangoes. We have only won half of the battle.
Now we will have to sell those mangoes wisely so that we can reap the maximum amount of profit. We will have to see where we can get the maximum price for our mangoes. Not only that. We will have to see what extras we can get while selling our mangoes.
Can we create any business asset as a byproduct of selling those mangoes? Can we build a brand around the mangoes in that marketplace?
It is always our priority to reap the maximum return. Not only as money but also as assets. A business brand is an asset.
After a successful return, now we expand. We plant more mango seeds with the money we got and continue the process.
But that’s a fairy tale story. Isn’t it? What if the seed we planted did not grow to bear fruits? All our efforts, time and money we had invested went in vain.
Yes, it can happen in business, and there are ways to minimize the risks as well.
But should I continue in business after a disaster like this?
I think we should ask ourselves.
Did we like the process we have been through all this time?
If the answer is no then we just move on. It was our learning. An experience that will always remain with us.
If the answer is yes then we gather ourselves up, we learn from our mistakes and we plant another seed!
