Ask Yourself A Few Questions Before Starting An Enterprise.

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Implementation strategy: can I implement this strategy?

The third question that entrepreneurs have to ask themselves is probably the hardest part to answer because it requires the most honest self-examination: can I implement this strategy? Good ideas do not guarantee good performance.

Many young companies aborted because entrepreneurs failed to implement their strategy.

For example, enterprises may run out of funds, and entrepreneurs may not be able to achieve sales or fail to complete orders.

Entrepreneurs must examine three areas, namely resources, organizational capabilities and their personal roles, to evaluate their ability to execute strategies.

Do I have the right resources and relationships?

The lack of good employees is often a major obstacle to the successful implementation of a strategy.

In the start-up stage, many enterprises fail to attract top class employees, and the entrepreneurs who want to turn unqualified employees into excellent employees are almost always disappointed.

In addition, a young enterprise needs more than just internal resources. Entrepreneurs must also consider the source of customers and capital.

Customers who start their businesses can be attracted by the enterprises most quickly, but not the final ones.

Entrepreneurs must also constantly seek more abundant sources of capital to build lasting businesses.

How powerful are the enterprises?

The ability of an enterprise to implement its strategy depends on its "hard" infrastructure (organizational structure and system) and "soft" infrastructure (culture and norms).

If the performance is poor, too many rules and regulations and management control will suffocate employees.

If enterprises grow rapidly and gain market share, the lack of management mechanism and control means may be more concerned.

The continuous development of corporate culture also has a profound impact on the success or failure of enterprise strategy implementation. Culture fills the vacancies that are not covered by the company's rules and regulations, determines the degree of competition and cooperation between employees and individuals, as well as their attitude towards customers.

If entrepreneurs do not stop to consider cultural issues, their corporate culture must be formed at random rather than designed.

This random culture may not be in line with the goals and Strategies of the founders of an enterprise.

Can I play my part?

Entrepreneurs who want to run small businesses and want to complete all important tasks in person do not need to change their roles.

However, if the entrepreneur wants to pform the company he founded into an entity that can survive independently, then the role of the entrepreneur must be changed with the expansion of the business operation.

He should develop from his own business to teach others how to do it, and constantly try new jobs and responsibilities.

For example, an engineer or entrepreneur should learn to master the skills of financial analysis.

If entrepreneurs believe that they do not want to change and learn and are unwilling to accept challenges and acquire new skills, it is best to sell them to other people who are interested in business.