Entrepreneurs are people who are willing to take risks for their business idea. They have an idea for a new product or service and they want to start their own company that will sell it.
There are many challenges that entrepreneurs need to overcome in order to succeed: lack of financial capital, lack of management skills, lack of knowledge about how the industry works etc.
The journey of entrepreneurship has many different stages: the idea, the search for funding, the launch of the business, finding customers and finally success or failure.
This is where partnerships come to play.
In the first episode of Unboxing Entrepreneurship, I was joined by Dr. Sonali Dasgupta. She is the founder of STEMonsters - a learning ecosystem for children. She is a research scientist by profession, an entrepreneur by choice, an educator by passion, and a learner by compulsion.
In this episode, Sonali shared how she has managed to grow her business through partnerships.
She gives us two insights related to business partnerships:
Partnerships don't happen overnight. It's not the first step we look up to. It's networking and making the connection. Because 'partnership' means two people involved in sharing responsibilities and the strategies and planning. Hence it's important to network with people who resonate with your vision and mission.
It helps you to reach people you may not have benefited to do by yourself. As an entrepreneur is restricted to a particular demographic which is not likely to get covered by oneself.
It is important to build 'strategic' partnerships. To have a strategic partnership, it's crucial to share some aspects of the mission and understand what can you give them. It's not only about what you can get from them.
To know more about this, watch the full video here.
Stay tuned for more episodes in the coming weeks!
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