Before you start your own business

Before you start your own business

The most common falsehood:

assumption that Idea + Investor = Success (I will be a millionaire)


What else is needed?

  1. Unique knowledge
  2. Experience
  3. Market readiness
  4. Appropriate features of the founder
  5. Good partners
  6. Experienced investor and
  7. Best of luck. (My former partner always said, “I would rather be lucky than good”)

Best in my opinion ?:

Facebook, Twitter, eBay… lottery winnings

  1. the beginning is a happy hit with an idea

  2. later, good investors who gave money and built a good management board

The most important features of a good company founder

  • has a reputation for success

  • Not money, but success 2) Always been successful

  • not people themselves

  • Looks the truth in the eyes 2) Does not lie to himself

  • he is accountable

  • he is a blacksmith of his own destiny

  • failure is the result of poor planning and execution 4. he can think critically

  • searches for facts

  • not optimistic, not pessimistic, but realistic

The most important features of a good company founder

it is creative/conceptual

Business is a run with obstacles

Which obstacles should be removed, avoided, overcome? No one knows from upstairs Gather information, come up with some options and choose the best one

It is result oriented

  1. only income and profits are important in business, nothing more
  2. no one earns money at all
  3. he is energetic, hard working and persistent

In short:

  1. in business as in sport, ability is not enough
  2. the company’s main enemy is a waste of time

The most important features of a good company founder

Is able to solve problems

Typical business problems: lack of money, clients don’t buy, investors don’t want to give more, lack of good employees, co-workers lose fire, the best employee has gone to a competitor, competitors attack, clients withdraw orders, clients don’t pay, suppliers are delayed, shipping hasn’t reached the client, employee has stolen company secrets, the company is sued, new product doesn’t work, etc….

Q3 - is organized ??

Plan → Execution → Result measurement → Correction → Plan –>itd… 3. is able to make decisions

  1. gather information, analyze and decide
  2. most people cannot do it when decisions are difficult
  3. In business as in life, the bigger the decision the less information"
  4. Decisive man always prevails only because almost everyone is indecisive"

The most important features of a good company founder

is financially responsible

The main reason for the collapse of start-ups is that money is spent too quickly

“If I have any doubts, I keep my money in my pocket”

I hate bureaucracy ?

  1. the bureaucracy protects the middle class

  2. There is no punishment in the bureaucracy for not deciding, but there may be a punishment for making a decision, so people are reluctant to make decisions

  3. he is young

  4. ideal age: 30 to 40 years

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