PRINCIPLES FOR BUSINESS AND ENTREPRENEURIAL SUCCESS If you would not take a real and substantial Risk upon your own idea how can you possibly sell it to another? Take your own Risks at every stage so as to lower risks for others and thereby assure everyone’s success, including your own. Do not be afraid to temporarily fail in order to succeed, and do not be afraid to permanently succeed in order to vanquish failure. Work at improving your idea during every possible moment and at every stage of development. Work hard and work often. The cure for not making progress is earnest effort and Real Work. Master One Capability then move on to learning others – Be Wise about what you do know and be ever active about what you don’t know. Accept no Assumptions from Others and Always Be Critical of Your Own – Test your Ideas and your Markets prior to Development and Investment, then test and prove them at every other stage as well. Do not try to be all things to all people, instead focus upon being excellent towards those you truly serve. Be critical and be objective about what you are doing – everyone else certainly will be. Study and Test New Ideas, whether they are your own or anyone else’s – anticipate trends and improve upon them, but do not reinvent the wheel. You can only do so much, so everything else will fall to the People you work with – this makes them your most invaluable assets. You will never know as much as you think you do, and neither does anyone else – accept this fact and use it to your advantage. Setting the conditions by which everyone can prosper only assures your own success. If you don’t know what you’re doing neither will anyone else. You can be years, decades, or even centuries ahead of everyone else but that’s only an advantage if you catch everyone else up to where you are – people won’t invest in what they can’t or don’t yet comprehend, so it’s your job to both explain and sell the future so everyone can mutually benefit. Do not take from others what is theirs, rather, profitably improve upon it. Competition to improve upon and outperform is the impetus to all true progress. Go where the People are and the Markets work – you don’t have to live there, but you do have to do business there. People buy, sell, trade, manufacture, create, deliver, profit from, and use your products and services. Products and services don’t invent and employ themselves, People do. Therefore give People those very goods and services that they can buy, sell, trade, manufacture, create, deliver, profit from, and use. In the Real World there is no such thing as an Expert, there is only the guy who is temporarily right. It is better to be behind a good thing than the head of a bad one. No one will follow the man who never leads. Establish one Business at a time and work it until success is achieved. Follow this General Timeline for Development: 0 to 3 Months – establish concept, do research, test market 3 to 6 months – do further research, write Business Plan and Marketing Plan and other Plans 6 Months to 1 Year – Find Partners, Secure Marketing 1 Year to 3 Years – Build Business, make it profitable and Self-Sustaining 3 to 5 Years – Take Absentee Position, or Sale, and start New Businesses Jack
Posted on: Thu, 20 Jun 2013 20:57:43 +0000
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