(英文转载)对创业者的10条忠告

Ten Commandments for Entrepreneur

原文地址：http://rememme.com/story.php?title=ten-commandments-for-entrepreneur

 

Every Entrepreneur has a story to tell, Experience to pass on the younger generation. We all make so many mistakes in our early startups and wish that the coming younger generation of Entrepreneur don’t repeat same mistakes.So here is top 10 advices for a young entrepreneur set to achieve his/her dream.

 

Please take note that these all tips are based on my experience rather than on some market buzz.

 

 

 

1. Rely on Market Research in comparison of your assumptions:- "If there is no market for it, You are never going to be succeeded" .

 

The above quote looks really simple and hard to be missed, But I have seen a lot of startups failing due to this simple reason. Usually we all entrepreneurs are very sure of our idea and very excited with initial turnout that we miss the bigger picture of story. Always judge your product/service critically and make sure you cover and researched every market possible and the presence of competitors in the market. These research time spent will benefit startups in longer run with better data to compete in the market.

 

2. Choose best people out there as Partners/Employees:-

 

Any organization is nothing but the quality of the people/ service by people employed. There is a common pitfall in earlier days to recruit cheapest people and trying to do maximum things on own.However these are the recipes that hampers the growth of any organization. Founders are nearly always not the best persons to be CEO, COO, CTO of an organization . They are visionaries , A Founder should always try to find right people for right jobs, Show them the way and then hand over all responsibility to them. Entrepreneurs are people who know to move on , make new things, innovate and create. Not to stagnate at one point .

 

3.  Always give users more importance than profits:-

 

There are always hard times and easy times for a business. Booming economy or easy times is when it’s easy to bring business and trading time is good. However for sure the bad times come too (like current recession), these times your loyal customers, Old customers are best bet. Because they know you, they believe in your capability and you understand their business needs and their business process as you have worked them earlier. So for always winning customers make sure you give them preference over profits.

 

4. Be open to ideas and learn to adapt:-

 

Always be open to ideas and keen to learn new things. Many startups (including mine) usually ended up being what they never planned to be in starting. Founding and running startup is a art , Were every next stroke of brush depends on the previous stroke, just like colors your ideas may not look worthy while they are independent. But once they combine they intend to produce masterpiece. Being in control and confident is always necessary , However always keeping senses open is a essential habit of entrepreneur.

 

5. Always be in control of your finances:-

 

There are CAs, Accountants and a whole finance industry, So why would someone like to do companies finance by himself ? When I say control , I don’t mean to sit and make transaction sheets, ledger bills, Estimate liabilities etc. What I mean that you need to have a basic understanding of all  finance matters to make sure that your projections is not governed by some finance guys. Now best ways to make sure that you are in control of your organization finances is to try and maintain finances of your startup when it’s early , This will help you to get basic understanding of all finance science and thus will help you in long run

 

6. Plan your future expenses before you quit your day job:-

 

In today’s competitive world every talented  , smart and innovative are easily hired on a fat package job easily. But slowly the fat package charm goes away and people leave their job to follow their entrepreneurial journey. The above scenario is discussed by many industry thought leaders like Paul graham , And all are sure of one thing. If you really want to be successful in your startup , You need to leave your day job.But question is when should you leave your day job ? Leaving a day job is a bold decision, And like all good decisions it should be based on proper research and planning. So, Before quitting your day job make sure that you have calculated your minimum expenses and ready with a backup plan if all fails.

7. Manage company on whole, Not a part:-

Entrepreneurship is very different from a job, No body will tell you to do something, No body will ask you to work hard. A entrepreneur is a jack of all trades, He/she needs to understand every aspect in which his business is into.

8. Never say quit:-

 

There always a moment come when you are ready to leave your all efforts and go back to a daily routine life. However it’s very true that this is the moment from where you can move onto a ladder of success. So , Never say die..

9. Keep your emotions at your home:-

 

When you are in a business, You come at the top of food chain. It’s really important to keep your fears, emotions at home and have a perfect practical mindset.

Being at top means the stakes are high and thus the competition too. So you have to make sure that you are the best and ready for every challenge or else fall is certain.

10. Entrepreneurship is not a destination, It’s a journey:-

 

Stay hungry , Stay foolish..These lines of Steve jobs stayed with me from past many years, These lines defines mindset of a entrepreneur. Entrepreneurship is not a destination , It’s not important were you end. It’s a mindset, a religion that you follow . It’s tough, risky , uncertain. But this is the only way to get most out of yourself and your life.

 

I would love to hear comments from fellow entrepreneurs, to-be entrepreneurs,  Business people and thought leaders .

 

Look forward to read your scoops and best of luck for your entrepreneurial journey.