Naureen Hyat, CEO of ZoodPay Pakistan and Co-Founder & CEO of Tez Financial Services and Mutaher Khan, Co-Founder of Data Darbar spilt their entrepreneurial secrets in a panel discussion moderated by Sennen Desouza, Co-Founder of Investors Lounge at Unilever HQ as part of Katalyst Labs’ first event for Global Entrepreneurship Week.
What is Global Entrepreneurship Week?
Global Entrepreneurship Week is a campaign launched by the Global Entrepreneurship Network to celebrate innovators who dream big and launch startups that bring ideas to life.
GEW reaches millions of people of all ages and backgrounds through local, national, and global events and activities. Each November, organizations around the world in over 180 countries commemorate the occasion in their own ways to celebrate and support local entrepreneurs.
This Global Entrepreneurship Week, the team at Katalyst Labs organized a series of events and activities to celebrate all things entrepreneurship and innovation!
What Qualities Does a Good Entrepreneur Possess?
Entrepreneurial life is not for everyone. At Founder’s Forum, these experts shed some light on finding purpose, direction, and guidance as an entrepreneur.
1. Vision & Culture Alignment
For an entrepreneur, finding a good team is necessary, however, building teams isn’t easy. This is why it is of the utmost essence to find individuals who culturally align with the values of your business and your vision as a founder.
You can’t push someone to work for you no matter how great of a resource they might be if your visions are not aligned.
2. It’s All About Opportunity!
“There’s a lot of opportunity that is not accessible or transparent…in Pakistan alone, there are 175,000 companies registered privately.” – Mutaher Khan
There’s no set template for finding a problem you want to solve. There are so many problems out there, which creates plenty of opportunities to solve them. The market is huge, it’s not so small that one player in one vertical will ever be enough.
3. Being an Entrepreneur is a Lonely Job
An entrepreneur’s job is a lonely one. When things go wrong, it’s your duty to take on the brunt of it even when you’re not at fault.
It’s a leader’s responsibility to take twice the blame and half the credit. It also comes attached with the responsibility not only to oneself but also to the ecosystem. When the ecosystem has given to you, you must give back.
4. Flexibility is Essential for a Good Entrepreneur
Entrepreneur ego is a real thing and one must learn how to keep it grounded. It is natural for entrepreneurs to get attached to their own ideas but one needs to adapt and be flexible.
When the need arises one must be flexible to pivot and listen to the ideas of others.
5. Find Your Purpose
Ideas are easy to come by but executing them can be a Sisyphean task. Execution becomes easier if you truly believe in and are passionate about the problem you are trying to solve.
And to sum it up, in the words of Naureen Hyat:
“There is no wrong or right approach. At the end of the day, one thing I would urge you not to do is follow what everybody else is doing.”