10 Things You Should Do If You’re An Entrepreneur
I was thinking on the blog description this weekend and have decided to use “Where The Young Learn To Be A Better Person“, carrying the meaning of this is a place for me to share what I have learnt from LIFE. Today is the 553rd days of my company BConnesso. I should really blog about it one day, Haha! Sitting in office today, scrolling my Facebook previous timeline and looking back at how much my life and company has changed since July 2012 and would like to share my personal belief on 10 Things You Should Do If You’re An Entrepreneur! # Not the one in the featured picture above! Hahahah!
10 Things That I Keep Doing In These 553 Days
1. Build Personal & Personnel Knowledge.
As we all know, knowledge is important as it makes you aware and confident in making decision in life. Same to business, we have to understand our customers’ needs, skills of staff, market trend, etc so that we can remain competitive in this era where the information spread fast and viral. This will make you better equipped at business. However, it is good to do one thing perfectly, rather than 10 things poorly. So, know what you love, do what you know – stay focus on improving your skill! Learn another skill only when you are capable and it means something to your original skill!
2. Build Team Spirit
Team building is particularly significant if we want grow and develop our business. It enhances the effectiveness of team by facilitating better communication, motivating each others, promote creativity and break barriers! Believe me, having a good & right team will make entrepreneurship worth so much. However, based on my humble experience, not many of SME know the important and usefulness of team building. Even if they knew, they might not be doing anything on it.
3. Discover Business Values Proposition
As I mentioned in the previous post – Business is all about the customers, entrepreneur solve market needs. Knowing customer segment that your company aims to reach and what’s you can do for them is crucial in every business. Don’t think I am having the best product or services in the world, just go out sell and see how the others think about it! Be ready to explain it to others and be ready to handle the challenges!
4. Create A Great Company Culture
This is never an easy job. People mindset decide their behaviors; Company culture decide its value. I always believe that better environment create better moods which lead to better performance and happy results. Just remember that from the minute people walk in the office, they (investors, suppliers, employees, etc) will know that this is a different place with a unique culture. For me, a great company culture is having the right person who fit the culture, share the same vision and mission, being empowered and work in a team!
5. Manage Available Resources
To remain competitive and to stand out, one entrepreneur should capable of managing the resources around him/her. Make good use of all the resources available (time, human resouces, channels, partners, markets), managing the risk and allocate it in an efficient way to achieve the highest levels of production and quality. For example, if you are a student you probably have access to a library with a wealth of information on starting your own business, join some social activity to meet more guys and attending some skills courses. Know what you don’t know and who knows what you don’t. If you can connect every party in the game, you already win half!
6. Improve Operating Procedure
Sometimes you won’t know this small matter might affect you business so damn much, especially in costing and team works. When a company grow from one to two, three and so on, we have to review, monitor and keep track of the way our team handle a project, production, documentation and etc. Busy is good, it means company growing; but, the question is what are you busying? Solve problems and cut unnecessary task, not passing to others. This add cost and bring no value to the one doing your unnecessary task.
7. Add Value To Product & Services
Apart of knowing what we’are good at and the clients, we have to add value to our clients so that they will recommend us to other people and get repeat business. Added value allow us to market our products more successful with our own Unique Selling Proposition and thus obtain competitive advantage. In my field (creative line), I would suggest to add value by promoting “Services Strategy“. It’s not only about the idea and product, but also how people communicate and work together.
8. Build Business Network & Weak Ties
This is about how the information spread and you might get more projects, ideas or useful information from the others. If there is a chance for you to meet investor or angle, try to pitch your business in a clear and concise manner regarding on the vision, service, goal and strength! I don’t remember where I read this, but I am agreed to the author that say it in 30 seconds or don’t say it at all.
9. Understanding The Competitor
Starting a business is hard, we have to understand ourselves, business, team, customers and COMPETITOR too! Hahahaha! But this is helpful. If you have competitors, do make sure that your team are competing in a happy condition, otherwise you are competing in a wrong way. These quotes are from my idol, Jack Ma (马云),
“ 大象是搞不死螞蟻的,只要你躲得好。競爭是一種樂趣,競爭是不可怕的,競爭應該是讓別人痛苦你開心才是對的 ”
10. Find & Learn From Mentor.
Find a mentor, coach or angle who are willing to give you advice and guidance that come with their experience or read their books. See how people success and fail. A great mentor will try understand & foresee your challenges and advice you on how to overcome. This save your time and avoid you from doing the same mistakes. However, do remember that you are the only one who really know about your dream and business. Besides, I found some great mentors and coaches at Cradle. Have fun!
# Funny picture credit to uthinkido.com