Founder of Fintech Startup FlyFin Shares Their Top Insights
Last Updated: By TRUiC Team
Any entrepreneur can tell you, launching a startup is a learning process. Therefore, one of the best things you can do prior to launching a startup of your own is to learn from those who have blazed the trail. Jaideep Singh, founder of fintech startup FlyFin, shared valuable insights during our interview that will inspire and motivate aspiring entrepreneurs.
What is your #1 piece of advice for startup founders?
“It's a rollercoaster ride every day, so be prepared for that, but also try to adopt a mindset where you enjoy the ride rather than stressing out about it.”
What is the best method you've found to avoid burnout as an entrepreneur?
“I make sure I have a daily routine that's healthy and beneficial and is something that I can stick to.”
What is your advice for coming up with a unique startup idea?
“Have a very clear objective about what kind of business and product you want to build. Before you get emotionally attached to your idea, be methodical in your approach – use a spreadsheet. Be willing to let an idea go when it's time, and be very intentional about moving away from ideas that don’t meet the objectives you’ve defined. But also allow yourself enough time to be inspired by the ideas that meet your objectives. At the end of the day, you have two opposing forces: passion for an idea and a very clear set of objectives. Choose the idea that lies at the intersection.”
What is your advice for overcoming challenges and failure?
“Immerse yourself in every problem and really lead from the front, no matter how difficult a situation might be. Most challenges and failures can be overcome by sheer force of will, so stay focused and don't stop looking until you find a solution. The first iteration of most ideas rarely works the way you expect it to. You have to be stubborn about some ideas, especially when you catch the scent of possible success, and at the same time brutal about cutting your losses and killing some projects that seemed great at first.”
What is the biggest lesson you learned and what can aspiring entrepreneurs take from it?
“Never take no for an answer from anyone, not even from yourself. If something seems like it should work, it probably will work, and you just have to find a way. Persistence is key. Of course, no one rule ever works for all situations. In life, as in entrepreneurship, you need to know when to hold 'em and when to fold 'em!”
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