5 Steps to help entrepreneurs avoid the fate of the future

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Because every year I work with hundreds of people who embrace entrepreneurial ideas, I've seen n entrepreneurial methods or thinking. Some people take the entrepreneurial spirit as a big money, some people are passionate about their careers, someone meticulously produced a five-year development plan, and some people insist on the "bridge, Nature has the bridge" concept, the plan does not care.

And whatever your entrepreneurial mind-set is, I have come to believe that there is a fundamental element that is essential for an entrepreneur to avoid the fate of failure, and that this essential ingredient is a continuing fanatical commitment to serving customers and the world, pushing your personal and corporate development to the highest level.

In this connection, I asked Elton Rivas to talk about his views on this issue. Elton Rivas's identity is a continuous entrepreneur, three all-around athletes and a supporter of entrepreneurial passion. He has jointly hosted a new accelerator Kyn to support start-ups. He has a clear sense of the challenges he faces in starting a company, and he has a career in engineering, footwear and High-tech, and he has played a role as a consultant in the field. Elton has experience in corporate marketing, but he left the field with the goal of revitalizing the local business environment. To this end, he launched the Cowork jax--Jacksonville Center of the first career mutual aid site, and co-founded the onespark--it is a five-day event where the creator can find the people and resources they need to make the great idea come true. Onespark is a global public offering festival.

I asked Elton about the key elements of the entrepreneur's avoidance of collapse. The following is his view:

"Every week, a lot of people ask me for tips." They asked, ' What are the key elements of an entrepreneur's avoidance of collapse? ' My answer is only one word, that is commitment. Entrepreneurs are famous for wanting to solve problems, create new things, and catch up on the next big event. In fact, a passionate entrepreneur must explore the cause within the scope of their commitment.

The scope of commitment includes commitment to the development of the company, commitment to creating a good working environment for employees, commitment to providing quality service to our customers, commitment to providing a better experience than our competitors, and commitment to objectively evaluate performance and cope with the ups and downs of company development. Failure is likely to be inevitable if the action is not enthusiastic enough. ”

Elton that by taking the following 5 steps, entrepreneurs can avoid the fate of a big one.

Action. Right now.

The largest company in the world originates from action. In the worldview, entrepreneurs are often perfectionists. But that's where the problem lies. Entrepreneurs want to solve problems, but their personalities become barriers. Entrepreneurs often have a detailed analysis of the challenges they may face before they actually start a worthwhile job. Entrepreneurs should remember the following equation: Concept + Profit execution = business.

Love data like geeks.

Data-related hazards exist in a number of ways: the risk of excessive data analysis, the analysis of incorrect data sets, insufficient implementation in the feedback link, and the team's irresponsible attitude towards the indicator. These are the manifestations of poor use of data. Entrepreneurs can take shortcuts in many areas of business when their businesses first set sail. But they can't do it for long. If a company's problems remain hidden, it will eventually face even greater challenges.

Data does not allow entrepreneurs to solve problems. The company's development situation is good or bad, the data are objective. Data don't care if today is a good day or a bad day. The data will hit the entrepreneur's face and tell them that they are losing their positions. The data provided by good friends can also tell entrepreneurs which marketing channels are effective and which customers are the best. The data will also reveal how far the company is going, and when the company can recruit new employees to address the looming scale of growth.

As long as entrepreneurs do not violate data and accept data, they do well. Keep in mind that data is the underlying decision tool that applies data to achieve goals faster. Like geeks, like the data, the time to achieve the goal can be greatly shortened.

Use good dashboard tools.

This may seem to be the 2nd repetition of the above, but that is not the case. For any company, the feedback link is critical. What many people do not expect is that the feedback link will contribute to the overall overview of how the company operates.

The number one task of an entrepreneur is to create value. If you do not listen, learn, act, and repeat the trilogy in every detail of your business, you cannot talk about the creation of value. When the entrepreneur uses the feedback, reduces the company's development scope, and understands the company development puzzle each plate how to match together the art, the feedback link real value only then manifests. For entrepreneurs who don't have a tool to evaluate performance, they should have the tools. Cyfe, Geckoboard and Ducksboard are all good choices. Entrepreneurs should find a suitable performance evaluation tool for their company, and the company's department heads should also find appropriate performance assessment tools for their teams, and will be determined to find accurate data and add them to the above assessment tools. Retain the simplicity of these assessment tools, which can be deleted if there is information that does not help the day-to-day decisions.

Build new content every day.

And regardless of the nature of the company's High-tech companies, hardware suppliers or service providers, every company needs to build every day to create a positive impact of new things. Once power is destroyed, it is difficult to reboot. This is why endurance athletes rarely miss any day of the training cycle, and if they miss a day's training, they will focus on the next training as the most important training in their lives. Power is vital. Building something for the company, employees, and customers every day will help keep the momentum going and help the team move towards a common goal.

It is the practice of many companies to keep track of specific goals every week, based on a few months ' road map to support the long-term vision (almost 1-5 years). However, it is better to tell team members to make new contributions to their employees every day and to stay focused in this area. This will breed an innovative environment. In this environment, employees will have a sense of participation, they will participate in the company's future development. After all, it's all part of being an entrepreneur.

"Trio"--patience, urgency, humanistic care!

The cyclical nature of the business forces entrepreneurs to learn all kinds of valuable skills and know when to force and when not to. Start with the founders, the leaders and the founders, and set the pace for them first. What the leader does, the company staff can imitate.

It is important to know when to be patient (to the team, the marketplace, and yourself) and when to stay focused. For example, we've been working with a VC-backed start-up recently, and the company is doing a great job under pressure. Interestingly, as long as they have a little free time, their attention and efficiency are completely lost, and finally net revenue is also declining trend.

In the months that we worked with the founder of the company, we agreed to work out a schedule that focuses on a two-month period. The company has been in full swing for the next two months, but in the third month, the company simply has to serve new customers, allowing them to have some extra rest time and let their minds wander freely. As a result, production efficiency reached the highest value, profits increased, corporate culture developed.

The cycle of "three steps": Listening, learning, action!

When all else fails, be humble, show your humility, like your employees, and get back to work. With 100% of the action, the chances of completely getting out of the negative situation will be significantly improved.

Elton's advice is very real. We all do what we can to provide our customers with the best service and focus our actions on building the best business, which is the only way to success. I would add that you have to follow the strategy you think is right and not get bogged down in the master's golden rule. I found myself and my company booming as I did what I thought was right for the company, and whether or not I followed all the "entrepreneurial rules".

To bring our business to the level of success, to do the things that are successful on the road, at these two points, do you do 100% of the effort?

(via FORBES translation/fast carp)