Entrepreneurs are praising this book as one of the sincerest guides to the real world of entrepreneurship in existence. The heart felt examples, based on the experiences of the author, have hit home for many, as they represent the daily struggle of those brave men and women that take risks...
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Entrepreneurs are praising this book as one of the sincerest guides to the real world of entrepreneurship in existence.
The heart felt examples, based on the experiences of the author, have hit home for many, as they represent the daily struggle of those brave men and women that take risks following their dreams, and in the way, create the companies that fuel the economies.
There are 12 basic laws:
1. Don't become an entrepreneur just to make money. Do it because it is what you love. The secret to real success is to decide what you want, make a good plan, and work with all your might to achieve it.
2. Study all the rules of success, because you will need all the help you can get to navigate the turbulent waters of "business life". From believe in yourself to forget about the past and concentrate in the future, to the "whatever a man thinketh, he is", everything applies. So, study!
3. Be careful with numbers. Income is important, but what it cost to generate that income is even more. Many businesses sell a lot, but make no profit, because their costs are miscalculated.
4-a.Keep the focus. Concentrate your fire. Take care of business. Don't try to do five things at a time. You only have a limited amount of time and energy.
4-b. Choose your opportunities wisely. Not every option in your way is "an opportunity". Balance your optimism and desire to grab them all; with the use of precaution. Do not rush.
5-a. Be careful doing business with friends. Money tends to be more powerful than friendship. It is better a friendship born from a business venture, than a business born from a friendship...
5-b. Choose your partners wisely. Good partners are like diamonds: hard to find. Bad partners are like diamonds: really expensive. Don’t rush into business with the first person you met in a party or while waiting at the bank.
6. Take your time choosing employees. Don't just hire your secretary's nephews cousin of a friend. Be diligent. Interview candidates, check references. These people, they will be THE FACE of your company!
7. Put everything in writing. EVERYTHING. In a business deal, people tend to suffer TSA, temporary selective amnesia. If not in writing, they will only remember whatever is on their best interest. Never, never, NEVER do a verbal deal. Writing everything helps everybody.
8. Control, control, control. People have the nasty tendency to steal, specially from their employers. Judas, Jesus' accountant, used to steal from him (John 12.6). If they stole from Jesus, imagine what they would do to you!
9-a. Learn communication skills. You have to be able to sell your ideas and to sell yourself. You could be great, but if you don't sell it, nobody will buy it. And you need buyers!
9-b. Sometimes, you just need to shut up. Not everybody need to know if you are in financial trouble, or if you had a bad sales month, or if you broke up with your girlfriend and lost your inspiration... People are always looking for signs or trouble to run away from you.
10. Don't let trouble defeat you. Everybody and every business faces trouble sooner or later. Sometimes is our fault (we did not: work enough, innovated enough, paid attention to the market). Or it can be a financial crisis that puts everybody against the wall. What is important is to be prepared; or if you are caught off guard, to not let it defeat you. Calm down and think.
11. Concentrate on the solutions. There is always a way out. But if don't find a moment of quiet to think hard, you may miss what is right in front of you. Know there is always a solution, and FIND IT!
12. If you ask for 'divine' help do it smartly. Many turn to God when in trouble, which is great. But if you do it, don't sit down and just wait for a heavenly solution. Keep working, keep thinking, keep innovating. God may give you inspiration, but won't fire your bad employees, nor design your marketing campaign, nor go out and knock at the doors you need to knock.
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