Better to be the head of the ant than the elephant tail. So excuse the businessmen. Entrepreneurship is very tempting. With the right attitude, success is not just a dream.
If you see Bill Gates or Mark Zuckenberg, surely you are tempted by their extraordinary wealth. But do you realize, that they also start everything from their small business. And none of them suspect it will score success as it is now.
Beginning companies that turn into successful companies worth billions and even trillions, in the business world is no different from lottery winners. Putting all your money and hoping to get the jackpot, you're going to fall.
Here are 10 rules for starting a small business. This list is more to make you aware of the reality that exists, rather than crazy chasing your greatest dreams in business.
More realistic
When creating a business model, look around and find a successful example of the business model you want, then learn. If you can not find, whether you are an incredible genius, or your business model will not work in the real world.Do not invest your own money
Since most businesses are risky, seek partners. So, if things do not go all the way, you will not go bankrupt because of the start-up funds, and not pursued debt.Self-enslavement
If you are not willing to work hard, overtime, forget your personal and health benefits, then entrepreneurship is not for you. At first, you definitely will not be able to pay employees, even if employees are cheap. So, your employees are your own.Appreciate time
Rate the money in your time, for example Rp20 thousand per hour. This will help when you have to make a decision: If a store charges Rp10 thousand for shipping every week, and it takes you 2 hours to go to the store itself, then pay for the postage from the company, because it is cheaper. This may be contrary to the 3rd rule, but even the slave also has economic value.Recruit employees well
Regardless of the size of your business, you will eventually hire outside employees. For that, do the recruitment process carefully, without haste, and treat it as important when you start a business. It is unfortunate the attitude of business owners who have a vision for his business, but recruiting employees who actually prevent him achieve the vision.Sell the excess, not the price
When you start a business, you're naturally frustrated to market it. But, if you compete on price, you end up selling at a modest price or even under capital. Master the skills of communicating with customers, to explain that your product price is higher because it has a better value.Know the baseline
Knowing how much money you need to go through the business - from store rent, electricity, employee insurance, to printer ink, paper, and taxes. Then divide it by how many days of the year you will be open, and ... that's the base rate - the minimum amount of income you need every day. If you've never thought about basic numbers, think again.Use the latest technology
Newer technologies such as data deployment and application with cloud technology are very cheap and make small companies able to compete with large companies. Take advantage of low cost technologies on the market.Treat vendors well
Treat your vendors and suppliers as best you can, just as you treat customers. They may offer discounts based on the volume of your order, or even to maintain a good relationship, and expect a future volume increase. Good relationships make them also understand the late payment, even give free shipping.Be the best
You should not be half-hearted. Every thing you do for the client must be the best. Whatever you make and sell, it must be the best. Do it continuously, and the power of "word of mouth" will spread. (Source: The Washington Post / Slate Magazine)