The 25 Golden Rule Of Success In Business

Entrepreneurship requires a brave heart, not for those who are weak.

Every entrepreneur starts his own business from the dream of changing the world, and most of them find that this is a journey related to survival.

In the process of entrepreneurship, there may be more and more doubts, and the inner struggle is unprecedented. And the challenge you face is to overcome all kinds of difficulties in the ups and downs.

After the initial excitement and excitement of Create Company, a start-up company needs to face the harsh reality: a world full of doubts. As an entrepreneur, you must learn to deal with these problems and stick to your products and services.

And the key is that after the passion Create Company, you need to have enough capital to keep the company running.

They point out that making money is not the ultimate goal, but creating an excellent product and service. Most entrepreneurs will be forced to break down because of financial problems, but those who are passionate about their entrepreneurial journey will always overcome all these difficulties with a spirit of perseverance.

No one who succeeds in starting a business does not love his career. It is based on this passion and passion that supports entrepreneurs in the most difficult period. This is a process of subverting logic, building dreams and creating career.

In the process of starting an undertaking, things do not develop as planned, and are often changeable.

Venture travel is a risky business, but these risks can often be circumvented by forecasts and adequate arrangements.

Before we start our business, let's take a look at these matters needing attention.

1., set up an excellent team.

A good team is a must for any start-up company and its subsequent operation. This team is made up of people with excellent skills and like-minded people.

A great team needs to learn as much knowledge as possible in all fields, at least in their field, with professional knowledge and skilled skills.

The first thing that an entrepreneur wants to do is to find a team that is full of passion to work. This is very important for a company preparing to start a business, especially in a difficult period. Such a cohesive team is indispensable.

The passion for work can be contagious, and a negative lazy person will not get anywhere.

2. know your business well.

Great entrepreneurs understand what is the most important thing to drive their own business development. Listed below are:

Core values of start-up companies

Company objectives

Company vision

Details of the business involved

team

3. position your startup company.

Ideas change the world, but they need to be well executed.

The products and services you provide must be unique rather than just a homogenous replica. Therefore, you need to make breakthroughs in this area and make specific detailed execution plans.

A start-up company needs to find its core competitiveness before joining in fierce competition. Each start-up company needs to answer these questions first.

What products or services are you providing? Where are the innovations of products and services?

Who are your customers? What are their needs?

What is the market demand for your products and services? Is it big enough to be global or confined to the mainland?

Can your start-up company scale up?

What aspects of investment should be involved when distributing products and providing services?

4. estimate your competitors.

You can't simply emphasize how unique your product is, how many advantages, or strong team backing. The challenge is how powerful your competitors are. How much do you know about them?

Before you put your ideas into practice, analyze your competitors carefully. Do you understand what the difference is?

Under the premise that there are competitors in the market, how much chance do you have to enter the market?

Everyone has his own dream. The innovative and innovative size of the entrepreneur's input into the real world will determine the size of his success. Therefore, maximizing the provision of innovative and innovative products or services will be of the greatest value.

5. throw away your inner conceit.

As an entrepreneur, we need to seek help. We need to constantly improve ourselves, and we need to do everything that maximizes the company's interests.

The best entrepreneurs usually absorb the best ideas, but are not limited to their own creativity. Entrepreneurs need to be more self absorbed rather than self centred. They should have the broad mind and vision of entrepreneurs and listen to others' good ideas and suggestions.

Self conceit runs counter to entrepreneurial success, whose creativity is not important, and the key is to practice what kind of creativity.

6., based on integrity.

Honesty is the cornerstone of a company's establishment. If the foundation stone becomes a weak part of the company, then the company will not be able to develop for a long time.

Integrity requires consistency of words and deeds, which is the foundation of all brand building. Looking at all the influential brands at the moment, they do not create brands with the same services as words and deeds. This is also the reason why customers love and love this brand. {page_break}

7. workforce diversity

In terms of employee creativity, employees who employ different backgrounds are much better than those who employ the same culture and same background.

Employees from different countries, with different cultures or backgrounds can enrich their creativity. Each independent individual will inject new genes into the team and bring new value to the company.

8. quality of core team

Board members will directly affect the development of the company. Their rich social connections, past experience, skillful skills and guidance for the company will have an impact on the development of the company.

Great companies are indispensable to great mentors. They may be directors, advisers, or skilled talents.

For an entrepreneurial company, your core team needs such an important role.

9. validate your creativity.

In the next venture, you need to use business plan to verify your creativity, design, research and development products are the challenges you will face, and the most difficult is the final sales.

Most entrepreneurs with technical backgrounds often forget to ask themselves the most important question: who cares most about the product?

Are there any other people who are interested in your idea? Are there any markets for your products? How do you sell your products?

Before you act, take the initiative to listen to others' suggestions. We can take the form of market research and estimate how big the market is. Remember, it is necessary to verify your idea before action.

Carefully analyze your creativity and other matters and factors that need to be prepared for achieving this creativity.

10. sources of funding

No matter how much petrol is in the tank, there is always a need to pump gas. Every entrepreneur needs to know clearly how much money you have available, predict how much money the company will need to develop, and predict when it will need capital.

When companies start expanding, they need capital. Choosing the best way of financing is extremely important for the growth of a company.

At this time, you need to understand all kinds of ways of financing, such as friends investment, self investment, VC investment, bank loans, angel investment, incubator or IPO.

11. create and meet demand

Once any product or service is mediocre, there will be no place for it. Excellent quality requires time to be perfused. Only those excellent products that stand the test of time can succeed in the fierce competition in the market.

Entrepreneurs need to try new ways to develop products that do not exist before. The operation of an enterprise is usually divided into two categories: it is not that you meet the needs of customers, that is, you create new needs.

The iPod we are familiar with is a typical product case of creating demand. E-commerce is a case of finding a new way to meet demand.

12. recruit suitable talents

A start-up company is created on the basis of the original team. Startups need to hire people who are conscious and willing to give.

Hire the best people to do the most important work and never compromise on the quality of talents.

Find the best experts, give them the right and the stage, let them control the company, give full play to their talents, and drive the development of the company.

Creating a team -- creating a collaborative culture of corporate culture, people tend to play their greater value in a collaborative environment.

13. draw up exit plans

Most entrepreneurs ignore the exit option. They feel that selling their hard-working companies or any other way out is unintelligible.

It's important to think about the way out when you start. The most common selling cases are acquired by other companies, investors or managers.

There are also some enterprises that will withdraw from mergers and acquisitions or IPO.

14. operation cost and Finance

How much is the cost of operation? How will the company manage this expenditure?

At the beginning of business, we need to know about the work of Finance and accounting first, and make the process of financial expenditure and so on. This is very important for startups. Most entrepreneurs, especially those with technological backgrounds, do not understand finance.

However, without the understanding of capital and finance, enterprises will not be able to operate. {page_break}

15. distribution of shares of a company

We must first solve the problem of enterprise shares.

Although start-ups are in a very early stage, they still need to arrange the division of shares in advance.

The failure of many start-up companies is largely due to disputes over equity division.

The founders and boards must be honest and clear about these issues. Most successful venture companies share the following ratios:

Founders / directors / Management: 33%

Venture capital: 33%

Staff: 34%

16. embrace uncertainty

At least, the development path of start-ups is unpredictable.

What the entrepreneurial team can do is to go all out to meet all kinds of challenges and get through this special period.

You may be faced with technical problems, financial problems, product failures, internal conflicts, natural disasters, or dealing with interpersonal relationships. Any problems that may be mishandled may cause a crash.

17. be brave enough to try and make mistakes.

Everyone is more or less "hugging" failure, in fact, mistakes are often indispensable parts of the work.

Failure never hinder those who aspiring. They will not be afraid of risks, be willing to trial and error, and work hard until they succeed in business.

18., maintain a sense of urgency.

Time goes by every minute and second. As time goes on, entrepreneurs always need to work harder to maintain the steady development of the company. You know, there will be no pie in the sky, and your company will not be lucky enough to be hit by pie.

Wasting every minute and every second in those useless work will keep you away from success.

19. know the law well

In the planning stage, we should comb out the legal problems and know what circumstances need to solve the problem by using the law.

20. give enough time.

Even genius Edison spent nearly 25 years to build a bulb.

Great ideas can not always be fulfilled immediately. They usually take a long time to come true. It takes arduous efforts to create innovative products.

Give enough time to try. But as time goes on, startups will get harder and harder, and ultimately, start-ups need to keep trying new things.

21. create brand

Every start-up company needs to create a brand. There are four stages to create a brand. The first stage is brand recognition. In this process, customers begin to understand your business slowly from strangers.

Brand quality, that is, let customers trust the quality of your product. Brand association, that is, the customer's attitude toward your brand and emotional cognition, also called affinity. Brand loyalty, that is, customers begin to recommend your brand to your family or friends.

22. shorten the distance from employees.

Communication is an additional asset of start-up companies. When communication and coordination between entrepreneurial teams are high, they will produce incredible miracles. Once things go wrong, things will go wrong.

What is the affinity of middle managers? If the distance with employees is far away, it means that many people will waste on this communication problem, and ultimately affect the efficiency of decision-making.

Team communication will eventually transform the best ideas into products or services.

23. enterprises should have a good staff structure.

Startups need a good structure to cope with turnover.

When the founder leaves, the enterprise has a very good system to elect excellent talents to take the heavy responsibility. A company that relies too much on someone will never have a prospect.

24. the right pricing strategy

Determining the input cost of products and services is usually a tough job. Most start-ups fail because of too much or too little input cost of their products or services.

Before making the right pricing, we need to carefully study the resources spent, the market analysis, the time spent on services and so on.

A correct and effective pricing will determine whether the product or service can be successful.

25. maintain flexibility.

The life of an entrepreneur is like standing on the edge of a precipice. It is a risk laden situation.

Most entrepreneurs work hard, but most fail. It is obvious that reality is cruel. You need to face yourself honestly before jumping into this business, can you bear the hardships of working tirelessly or even end up without result?

Research shows that most entrepreneurial ideas fail. Most businesses start with an idea, but they end up with other creativity.

They tend to find better ideas or to refine their previous ideas. They will actively identify problems and solve problems.

Keep an open mind, constantly adjust and don't waste time on a problem.

"When you keep trying and persisting in disdain, even until a critical moment comes. The most important thing is to persist until this critical turn comes.