Desh Deshpande urges entrepreneurs to get in the ring

You have been a successful entrepreneur and are an avid coach of young entrepreneurs. What would you say to young, aspiring entrepreneurs who are considering launching a business right now?
This is a moment of great opportunity
The world has fundamentally changed in the last 5-10 years because of technology and connectivity. 10-15 yrs ago, all economies were local economies, but connectivity has opened up the potential to touch all 6 billion people around the world.
Over the next 30-40 years, we are going to see very significant changes – whether they are in technology, medicine, environment or other fields, and every change will be created by one or more entrepreneurs. Entrepreneurs have the opportunity to tackle really big problems in the world and change the world. This is a great time to be an entrepreneur.
Get in the ring
If you want to be an entrepreneur and harness this opportunity, you cannot sit on the sidelines. Entrepreneurship is like boxing. You have to get in the ring and get your nose bloodied, you have to react quickly while you are in the ring and adjust your tactics as you go along. You cannot sit on the sidelines and just learn from watching other boxers. Take the plunge.
Get Milestone Focused
Every great entrepreneur needs to be very focused. The entrepreneurial journey is like driving a car across the desert. Every moment you need to be focused on getting to the next gas station without running out of gas.
An entrepreneur should set deadlines – it gives them a sense of urgency and if things are not working out, then they should have the ability to change course quickly.
Build the right team
Entrepreneurs know their areas of core competence and hire around their weaknesses. Some people are good at creating the technical vision, others at building great products, while others thrive in sales and marketing, but rarely is an entrepreneur good at everything. You have to resist the temptation to do everything.
One of the most important aspects of building your team is the role of mentors – people who have done it before, people who can help you think through critical decisions and people who are invested in your success.
So choose your teams and mentors carefully!