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26 Steps on How to Start a Business
1. Start with a question
- They are what the founders themselves want;
- They can build themselves;
- Few people realize it's worth doing.
2. Start by getting to know yourself
3. Start with understanding the social structure
4. Start by understanding the laws of nature
5. Start with understanding human nature
6. Start by understanding the market or industry rules
7. Begin by making a plan, setting goals, and writing a money-making plan.
8. Continuous practice to find positive feedback from the market.
9. Iteratively revise your product
10. There is a high threshold of technology.
11. There is strong financial backing.
12. There are special personal connections.
13. Have rich industry experience.
14. I have been struggling for many years on the road to entrepreneurship.
15. We must believe in the power of industry.
16. We must believe in digitalization.
17. We must believe in the power of persistence.
18. Do the industry you are familiar with.
19. Start with a small business.
- First, you can gradually become familiar with the industry and products.
- Second, you can reduce the cost of trial and error.
20. Be prepared for repeated defeats.
21. Research the market
“Every minute you spend researching online can save you 10 minutes; if you blindly build your company, you will find that customers may flock to different solutions for the problem you are solving ."
“(List) all the products or businesses you can find that are similar to the product or startup you want to create. For each company, write what you like and dislike about them in a pro/con fashion. Once you do Do, write down all the ways your ideas differ from theirs."
22. Consider starting a side business
23. Don't play the waiting game
“It’s best to start your journey with an unfinished or unpolished product or service and let its early adopters help you improve it. This may mean your pricing won’t be fixed, your offering won’t be complete, Nor will your service be automated. But that's fine."
24. Be customer-centric rather than competition-centric
"This first customer experience is invaluable to the direction, focus, and success of your new company."
25. Share, share, share
26. Be prepared to delegate
“Disney CEO Bob Iger has opened up the creative decision-making process to other leaders, keeping the company innovative. As the company acquires well-known brands such as Lucasfilm, Marvel, and Fox, he These leadership teams provide the autonomy that allows them to thrive in the Disney ecosystem."
Here, I would also like to make a few small suggestions for all entrepreneurs.
- The first small suggestion is to boldly apply for loans and financing before the third quarter. This year is likely to be the most accommodating year for credit in the past five or ten years. No matter which city your company is located in, I suggest you go to the bank and give it a try now. Chances are that banks are looking for companies like yours - above-scale businesses that are doing just fine. Hope you all take this opportunity. Of course, I also recommend that entrepreneurs go to investment institutions to go more. The first half of this year may be a good time for financing.
- The second tip, also related to money, suggests that entrepreneurs do a self-stress test on tax compliance.
- The third small suggestion, if you have the opportunity, if you have not tried it, suggests that the boss try to use SaaS for himself. SaaS for small and medium-sized enterprises, it is recommended that founders find their own way. Use once. the SaaS application for small and medium-sized enterprises has entered a very critical development moment, and it is the best service that small and medium-sized enterprises can use very conveniently. Founders and bosses often don't care about what the company is using. They are all used by CFOs, CTOs, and HR directors. Now I suggest that bosses find out for themselves.
- The fourth small suggestion is to observe a listed company with a market value of 100 billion in the industry track you are--in a broad sense, the big industry track where you are located. The financial reports of the secondary market are open and transparent, and through in-depth analysis of them, the trend of the entire industry can be pushed back. Pay attention to the changes in the market value of the industry leaders you are in. We need to observe the most advanced models in the industry and understand the future of the industry in advance.
- The fifth tip is if your company’s revenue has exceeded 50 million dollars, you must know about the opportunity to be listed on the Stock Exchange. In just over two months since it opened last year, 84 companies have been listed on the Stock Exchange, and more than 200 companies are expected to be listed.