Tip one: different personalities, no need to be too stubborn
At the entrance of the Delphi shrine in ancient Greece, there was a warning phrase: "know yourself." Some people are suitable for starting businesses, some are not. Personality is destiny. Therefore, before starting a business, one must have a clear understanding of oneself and cannot stubbornly believe that others can succeed in entrepreneurship while they themselves will not fail. Plunging into the commercial sea means embarking on a one-way path.
Tip two: Failure at McCheng causes heavy clouds, overemphasizing length and neglecting shortness leads to mistakes
The famous bucket theory tells people: what determines the capacity of a bucket is not the longest plank that makes up the bucket, but the shortest plank. What determines the success or failure of a person or a cause is not their strengths or advantages, but their flaws or disadvantages. However, in reality, people are accustomed to recognizing their own strengths, but ignore recognizing their own shortcomings, which often leads to the failure of the entire entrepreneurial venture at many critical moments.
Tip three: There are hundreds of industries, don't enter the wrong one
Starting a business doesn't mean blindly believing that any business, as long as you work hard, will definitely make money. There are many businesses where no matter how hard you try, you won't make money. This isn't about bad luck; it's determined by the overall macro situation and industrial structure.
Tip four: Choosing the right industry is the premise
Not being able to position oneself correctly and choosing a good industry and deciding to enter it does not count as the starting point of entrepreneurship. Finding and accurately identifying the market within the industry is just the prelude. If you choose the right industry but cannot position your upcoming activities in the market, the prospects of your entrepreneurship will inevitably be bleak, and you may easily be deceived and suffer losses.
Tip five: A fence needs three stakes, lack of cooperation leads to difficult ventures
As the saying goes: "One hand cannot clap alone," this is true in life and also in business. In today's business battlefield, smoke rises from all sides, and competition is extraordinarily fierce. To win in this life-or-death war, relying solely on one's own strength, as in the past, is something no one has the ability to do, even if they do, it's hard to achieve great success.
Tip six: Entrepreneurial development requires innovation, failure ultimately stems from an "old" product
Any money-making product cannot escape the evolution pattern of "introduction period - growth period - maturity period - decline period" and will eventually be eliminated. For a company to develop and continuously make money, it must constantly innovate, get out of the "trap" of old products, and continuously possess new products and projects.
Tip seven: Don't say making money is hard, only because the cost is high
Reducing costs is a very effective way for start-up companies to increase or stabilize profits. Delaying cost reduction is a suicidal behavior.
Tip eight: Master the heart of the customer, beware of wasting efforts
The customer is God. They will only deal with companies that can truly meet their needs, and avoid those that do not understand their needs.
Tip nine: In the age of advertising, promotion is key, even good wine fears a deep alley
Many entrepreneurs look down on advertising. They think they have solid products in their hands. Indeed, a solid product is a fatal weapon, but getting such a weapon into the market is not an easy task.
Tip ten: Look far ahead, tax-saving strategies should be implemented early
After starting a business, many problems will arise, but the most troubling ones are financial and tax issues. If these two aspects are not handled well, the larger the business grows, the more troubles it will face.
Tip eleven: Debts in the world are the most annoying, not knowing how to collect debts always leads to losses
Modern commerce without credit is like stagnant water that will never see prosperity. With credit comes accounts receivable. After accumulation and condensation, have you noticed that many of your accounts have become troublesome "debts"? Your balance sheet looks beautiful, but unrecoverable debts have become a major pain in your heart. Not knowing how to collect debts makes all your efforts in vain.
Tip twelve: Being self-righteous loses hearts, not valuing talent hinders long-term success
In the establishment and development of enterprises, numerous examples strongly prove that talent is the key to the rise and fall of enterprises. It is said that gaining talent gains the world, losing talent loses the world. Many entrepreneurs fail fundamentally due to their self-righteousness, indifference, and contempt towards talents.
Tip thirteen: Personal involvement is valuable, but doing everything oneself is not advisable
Energy is limited. Entrepreneurs should spend most of their time looking for opportunities and making major decisions, rather than trying to handle every detail personally.
Tip fourteen: In the information age, ignoring information leads to lost opportunities
Modern society increasingly relies on information support. People follow the belief that information is money. However, useless information remains just information and cannot be turned into money. In the commercial environment of information explosion, piles of information surround you. If you cannot break through, you will be drowned.
Tip fifteen: Who starts a business without risk? Not daring to borrow is incompetence
Many people, influenced by traditional ideas, dare not or are unwilling to use borrowed funds for entrepreneurial activities to promote the development of their businesses. They even extend the concept of "no internal debt, no external debt" to the capital operation of enterprises, considering it a symbol of "self-reliance". This kind of capital and management concept ignores the availability of social funds and clings to "debt-free" operations, leading to helplessness in business development. As modern entrepreneurs, one should not fear borrowing and be willing to use external funds while avoiding blind borrowing. The core issue lies in scientifically and cautiously making reasonable decisions about borrowing funds to seek possible and optimal economic benefits.
Tip sixteen: Business acumen can be cultivated, making money doesn't require others
In modern economic life, if a entrepreneur wants greater success and more fully developed business, they should realize that in increasingly fierce commercial competition, relying solely on so-called willpower and physical strength is difficult to achieve success. Successful entrepreneurs rely on flexible, sharp minds and scientific, rich business intuition to decide victories and defeats.
Tip seventeen: Heaven rewards diligence, pricing can lead to misconceptions
Devoting much effort to one's career and believing in heaven rewarding diligence, yet the product still doesn't sell well. Why? In fact, many times the key problem lies in the entrepreneur's price consciousness. Many entrepreneurs' outdated price consciousness either sets the product price too high, causing consumers to hesitate, or makes the product too practical, reducing consumer desire to purchase.
Tip eighteen: Ignorant of politics, wandering blindly, dreams are hard to come true
Since ancient times, politics and economics have been closely linked twins. In China's special political context, to achieve brilliant commercial success in entrepreneurship, besides dealing with economic aspects, if one doesn't understand politics, success is clearly unattainable.
Tip nineteen: Winning without fighting, lacking negotiation skills leads to regret
In modern economic life, negotiations are omnipresent. Every satisfaction of a demand, every search for fulfillment, may trigger negotiations. Various issues in the entrepreneurial process also depend on negotiations. If an entrepreneur lacks negotiation skills, they often place themselves in a disadvantaged position in their business operations, with development restricted everywhere.
Tip twenty: Health is wealth, being a workaholic is not appropriate
Entrepreneurship is a challenging and creative profession. The hardships involved are beyond ordinary imagination, often putting pressure on entrepreneurs. However, as the world approaches the 21st century, the lifestyle of workaholics is being abandoned by society. Those who do not know how to live and rest are not qualified entrepreneurs.
Tip twenty-one: Disregarding laws lightly often leads to failed startups
In the process of entrepreneurship, understanding the law, knowing the law, and abiding by the law is an indispensable condition. If an entrepreneur does not understand the law, does not know the law, and does not abide by the law, their business will inevitably fail.
Tip twenty-two: Many disputes in the commercial sea, fraud prevention requires careful thought
Any entrepreneur battling in the commercial sea will encounter traps set by scammers, big or small. Once these scammers profit, the entrepreneur either loses everything or sees their painstakingly built business vanish instantly.