Co-Founders of a Startup! Who can be the best example to inspire you when you are on the fence or in a serious dilemma about starting your own startup?

 Dear Friends and Students,

Before reading this, take a moment to look at the picture below. Did your heartbeat rate increase? As you know, "free solo" ascents, which involve scaling massive rock walls without ropes or safety gear, are considered one of the most dangerous feats in all of sports.

Alex Honnold is known for his daring free solo climbs, an extreme example of choosing the "tough way." Jimmy Chin, a photographer and filmmaker, often documents such challenging feats. Their collaboration on the documentary "Free Solo" highlights the allure of pushing boundaries.

Honnold's free solo ascent of the 3,000-foot El Capitan in Yosemite National Park was captured in the 2018 Oscar-winning documentary. In his interview, he says, “I don’t need to practice. It’s not that I’m gifted. Free soloing just forces me to focus naturally. It’s a by-product of being on a wall without ropes.” He emphasizes physical training and route mapping over improvisation to avoid unnecessary risks. He prepares more emotionally than by using multiple techniques, reading books on psychology. Like a chess grandmaster who can memorize the board after just a glimpse, Honnold remembers various patterns and sequences on every cliff (HBR, 2021).

Why do I refer to this example when you are in a serious dilemma about starting a new startup? Even with a complete viability or needs analysis, there are still chances of failure. One geopolitical issue, one cyclone, one irregularity without your involvement, smart copying of your idea by a competitor, your own health risk, one new regulation by the state—all these can derail your plans. Hence, out of 100 startups, maybe only one will see the light of day.

What really works? The Dopamine Effect! The brain releases dopamine, a neurotransmitter associated with pleasure and reward, when we overcome a challenge. This can create a positive feedback loop that motivates us to seek out more challenges. Nobody talks about it, but in most cases, this is the real fuel!

Of course, your entire business model should be appealing, but unless someone has this kind of drive, it is not easy to start a startup in the current context. I appeal to all stakeholders to provide a safety net for individuals who fail in their respective startups. Parents should encourage their children, and girls and boys should not see this as a taboo for marriage alliances (nowadays, prospects discourage those taking such risks). Investors should not be too calculative on returns. The government should fund such risky projects without many hindrances. Students should prefer working in a startup environment rather than mature companies, at least for some time in their careers.

I am not writing as a storyteller! I experienced it—leaving a cozy job, experimenting with an idea, and failing, but catching the safety net. Of course, everything should not be seen from a financial gain perspective! Maybe I did not gain much, but I got an opportunity to teach and preach as Teacher!

Are you ready for a startup Free-Solo?

Ravi Saripalle