These entrepreneurs’ ideas have already been successful in all areas: management, finance, marketing, sales… Don’t miss out!
Work For Free, It Will Help You Open Up a Market
“It is not easy to open a gap, everyone knows that. At first, to make ourselves known, we gave away our service (advertising) to a company in a specific sector to reach others in the same market“.
Don’t Look at Your Navel So Much
“Newer companies neglect to look at what the competition is doing. Worse, ours may not go as well as we expected and we do not take into account what the rest of the market does in terms of product innovation, sales channels… These indicators have to point me to my site and if I am in the same line… It does not have to be to do the same as the competition but to know if we are going the right way. It is important to be aware of the environment.”
Double Your Initial Time Estimate
“No matter how many projects you have managed before, you have to know that your product is going to be ready much later than initially estimated. Think about what would happen if the product took twice as long to launch as planned: would you have the funds to support such a deviation? Would you lose your window of opportunity if your product was seasonal? How many competitors could come out?
In the End, It All Comes Down to Personal Relationships.
“Go to events in your sector, meet people, come on, network. In the end, human relationships are fundamental. To do business it is essential to know people. This advice is easy to see with this example: it is not the same to receive a commercial email from someone you do not know, as a call from someone with whom you have chatted in a social media event, and of whom you have a first printing, or even that a friend recommends it to you”.
Don’t Be In a Hurry to Grow Up
“You should undertake a growth process only when you have a defined, stable, and reliable management model and you are accompanied by a consolidated clientele and you show the ability to continue maintaining or improving your turnover with the same quality standards. Growing implies financing, human resources, and greater management difficulty. It is a complicated decision and not without risks.
You Have a Hypertrophied Sense of Risk… What Happens is That You Don’t Know It
“Only when you look back and see that behind many of your achievements there were also hidden risks that you weren’t aware of in the first place, do you realize that you could have been about to throw it all away. A little more sense of risk would have helped you make decisions that mitigated the danger while still having an entrepreneurial spirit.”
Being an Entrepreneur, If You Have a Partner or a Family, is Not Just One Thing
“You cannot have two open wars: one in the office and the other at home. Your family has to share with you the project you are embarking on. This means speaking clearly, and making sacrifices (hours, above all)… to see if it pays off. It may not matter if all parts of the family don’t agree.”
Delegate, Delegate, Oh, and Delegate
“You don’t want to do it all yourself. It’s okay to supervise, get involved, and stay on top of what’s going on in your company. But you must know how to delegate to those you trust. Also, your lawyer knows more than you about the law; your accountant, more than you of numbers; and your commercial, more than you about sales techniques. So let people do their jobs and meet with them periodically to see how things are progressing. Remember that it is not about disregarding yourself, but about coordinating a work team with many pieces. The sooner you do it, the sooner you will get results for your business”.
You are Your Company, So Learn to Manage Yourself
“The first company is yourself… you are the internal company. The better you manage yourself (your time, positioning in the relationships you establish, thoughts and ideas), the more focused your external company will be. On the other hand, if you don’t know how to manage yourself, it will be reflected in your business”.
Don’t Look at Your Navel So Much
“Newer companies neglect to look at what the competition is doing. Worse, ours may not go as well as we expected and we do not take into account what the rest of the market does in terms of product innovation, sales channels… These indicators have to point me to my site and if I am in the same line… It does not have to be to do the same as the competition but to know if we are going the right way. It is important to be aware of the environment.”
Double Your Initial Time Estimate
“No matter how many projects you have managed before, you have to know that your product is going to be ready much later than initially estimated. Think about what would happen if the product took twice as long to launch as planned: would you have the funds to support such a deviation? Would you lose your window of opportunity if your product was seasonal? How many competitors could come out?
In The End, It All Comes Down to Personal Relationships
“Go to events in your sector, meet people, come on, network. In the end, human relationships are fundamental. To do business it is essential to know people. This advice is easy to see with this example: it is not the same to receive a commercial email from someone you do not know, as a call from someone with whom you have chatted in a social media event, and of whom you have a first printing, or even that a friend recommends it to you”.
Don’t Be In a Hurry to Grow Up
“You should undertake a growth process only when you have a defined, stable, and reliable management model and you are accompanied by a consolidated clientele and you show an ability to continue maintaining or improving your turnover with the same quality standards. Growing implies financing, human resources, and greater management difficulty. It is a complicated decision and not without risks.
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