What Can Project Mynt’s Entrepreneurship Capsule Teach You ?

At Project Mynt, one of the things we’re focused on is empowering a new generation of job creators, or aspiring entrepreneurs. And the need for job creation is being felt all over the world. Currently, there’s a huge gap between the supply and demand of jobs in most countries, including India. While the government is doing its best, the race between creating jobs and the population seems one-sided at the moment. Hence, we at Project MyNT,  have curated a entrepreneurship capsule course, that will help you pitch your big idea. But we must go over some essential stats first. Read on…

As per the leaked report of the National Sample Survey Office (NSSO) periodic labour force survey (PLFS) of 2017-18 showed that unemployment rate has risen to a 45-year high of 6.1 per cent. The 2018 International Labour Organization (ILO) report, World Employment and Social Outlook Trends, shows that the number of the unemployed is set to rise from 18.3 million in 2017 to 18.9 million by 2019.

Other findings, India Today reports, include the fact that the workforce has shrunk by 47 million during the period and that labour force participation rate (LFPR) has come down from 55.9% to 49.5% which, essentially means that more than half the working-age people (15-60 years) are out of the job market because there are no jobs. So we decided to step up to show the youth of our country that they can also create jobs, instead of just finding one, by conceptualising a holistic entrepreneurship capsule course. 

 We also believe that starting a company is a taxing journey for its founder(s) – if not financially, at least mentally. It only seems fair then that, while we establish the need for entrepreneurship, we also give these future start-up founders a sense of what they’re signing up for before they take the plunge. Our capsule does just that. 

What in the curriculum? 

Structured over six weeks, the curriculum of this capsule course is disseminated to a group of people that are passionate about solving problems. We want them to know that solving problems can help create a purpose in their life, or that it has been the purpose of their life all along, and satisfy their expectations of what it means to have a job or of the real world. 

This group is taken through the current scenario of their surroundings and asked to choose a problem that they wish they could solve. Then they are encouraged to think of a productized way of solving it. Project Mynt challenges their mindset to be creative rather than flow with what everyone in the startup community has been hearing nowadays. 

Next on the syllabus is understanding the key concepts like market and competition, followed by drafting a business model and studying the financial viability of their solution. 

Lastly, Project Mynt facilitates a real-world experience by inviting actual successful entrepreneurs and investors to listen to their startup pitch. 

By the end of it, we guarantee that you’ll know whether full-time entrepreneurship is your cup of tea as well as how to turn your idea into a living, breathing and thriving start-up company that can generate both employment and change. 

If this excites you, check out all the details about this course on Project Mynt here

 

Success is a journey, not a destination. Don’t chase it, experience it.

Often in our lives, we get ourselves into the rat race of achieving things which have a very high perceived value in our mind. Even after we reach these goals, we don’t have much to celebrate, rather we create more such goals to chase in the future. These goals can be something as basic as convincing your parents to buy you a new phone, or to score big in your boards examination. Here is what you really need to understand in order to get a real shot at shaping your future – It’s the journey of achieving something that you enjoy, than actually reaching there. The fact that you enjoy the journey so much, it’s almost inevitable for you to achieve that goal. We’ve all said the phrase, ‘Nothing comes easy’, well, it’s true. So give this a thought, you actually create a goal in your mind, so that you can take this journey, you enjoy it to the full, you see success and it all ends at the finish line while you achieve it. Almost instantly, your brain wants another race, another experience which you’ll love, another mistake you’ll commit and another glimpse of success.

Also read: These entrepreneurs did a little extra in their lives. Time to take some lessons!

How does it feel if you get up one day, and the entire day you don’t knock off something that you wanted to? Well, say you wanted to start preparing for an upcoming exam, or maybe you wanted to hit the gym or anything that you really really wanted that day. It feels like you’ve had the worst day possible, more so, you’ve lost a bit of your self-confidence, and a bit of your conviction has lessened. Factually, it’s the journey and the time you’ve lost today that makes you frustrated.

Here is a little something you can do every single day, or probably more days of the week than not, to get you to be in control of the things that matter –

  • Value your time. Know what’s important and just go at it, the feeling you get while you do the right thing is the biggest drug of all times
  • Be confident and happy. It’s how you feel that matters, rest everything is manageable. Happiness is the chase of life, nothing else, nothing more. Another thought, control drives happiness, even if something goes wrong and you know that you have control over it, that you can fix it. Keeps you confident and keeps you going.
  • Take one day at a time. Your brain is designed to make you feel lazy, it resists change. Overcome it. Don’t create a string of events that keeps you away from the journey.
  • Do something for each of the journeys you pursue. It can be a list of things, like a checklist. Health, happiness, wealth, learning and so on. Make sure you evolve on your checklist a little everyday. I can’t stress enough how important this is, you want to look back every now and then and cherish life.
  • Act. Don’t assume. Don’t assume an alternative as a journey, make sure you do what you know. If you haven’t till now, this second is the best moment. I would love it if you shut this read right now, and go at it.
  • Love yourself. Life loves you, really loves you. But if you create a wall of hatred between you and life, it can’t get you the goodies it has to offer.

At Project Mynt, we stand with you for the times when you confuse your journeys that you may/may not want. We curate journeys’/experiences worth a few weeks to get you a glimpse of things you might love as constant in your life. Experience them if you’ve given them a thought.

Send me an email at aayush@projectmynt.com if you want to discuss anything. You may get a delayed response as I’m taking my own journeys at most times, but you’re definitely one of them and will definitely get a response.

All the best!  

 

Why do early entrepreneurs have a better chance at success in India?

Before you read this article, it’s imperative that I put out this disclaimer –

This article isn’t to demotivate anyone at any age to start their entrepreneurial journey. However, it definitely states why the day was always yesterday when you had to start.

Being an entrepreneur doesn’t have any standard formula for success. This is a fact, and it’s important for you to realize this today because today, this moment, is the best time to start. Apart from time, another key attribute of any mildly successful entrepreneur is PERSEVERANCE. Let’s understand this in the purest form of how it’ll all start to make sense for you –

1. A startup being successful has no fixed formula and it’s not a 100% success rate for sure. But it’s true that if an entrepreneur keeps trying, he’s going to learn from the mistakes he makes. Once you apply this learning – you’re bound to reach to your definition of success in a matter of time (This time factor can vary, but you’ll definitely reach there).

2. The only prerequisite for an entrepreneur to start is to identify a real problem, figure out a solution (Idea) and have the confidence to solve it. Now this solution to become convincing for yourself, your target audience, your investors are going to be the serial effect of events and will take some time. Let’s say it’s going to take 5000 hours for you to solve a problem in form of a start-up that you start today. It all depends on you. Potentially, these 5000 hours can be translated in many ways –

4 hour work day = 1250 Days = 41 Months

8 hour work day = 625 Days = 21 Months

12 Hour work days = 416 Days = 14 Months

16 Hour work days = 312 Days = 10 Months

3. There is no guarantee that your new idea is going to become a business. But your next idea? It may take some time to build it all up again but it’ll have a greater probability of success. Keep at it. You don’t fail if an idea doesn’t work, you just end up one step closer to an idea that will work. Always remember – Be comfortable to believe in data when it presents the facts to you. Numbers don’t lie. Now depending upon qualitative factors like smartness, openness towards adaptability, perseverance, time invested and more – you’re bound to be successful. If not today then tomorrow or maybe in a few months or even a few years. It takes real conviction and lessons from your last businesses/experiences to decide whether an idea is something you really want to be a part of.

Also read: These entrepreneurs did a little extra in their lives. Time to take some lessons!

Mark Zuckerberg uploaded his Music Taste App for free online because he understood that it won’t become the best business for him. While the same guy turned down a few Billion Dollars when he knew Facebook is worth a lot more. What’s common? He knew how to read businesses after failing (When you invest time on something and don’t reap benefits – it’s a business failure, but a good entrepreneur uses it as a learning success).

Just by virtue of the factors mentioned above, this is what we derive –

  • Your entrepreneurial success is based on reaching the finish line in a race.
  • While you start running, the finish line isn’t visible.
  • If you keep pushing harder (invest more time, brain and effort), you’ll start to see the finish line.
  • Your success is dependent on you covering the distance in the shortest time – which is a mix of learnings, implementation, and more pure work.
  • If you start early, you have more time and if you have more of the key asset – you’re anyway has a more probability of being successful.

Start today, this moment is the best time.

You lose something if you think about starting tomorrow, next week or next month. It should’ve been the moment when you decided to read this article. It’s always late, I sincerely hope you don’t go on to the next article and start NOW.