11 things you need to know before starting a business

Neil Patel has created many companies. Recently, he shared his seven years of experience in starting a business:

1. Investors like to make excuses for not wanting to invest. Every investor will tell you the reason why they cannot invest, but some reasons are to make them seem benevolent. Therefore, you must ask them what changes they can make to win the opportunity.

2. A large amount of money does not mean that you will get a higher salary. Because increasing your salary means that you have a lower controlling stake in the company.

3. options are the fastest way to dilute your equity. Exercise caution when dividing the company's options to help employees rather than consultants.

4.90% of entrepreneurial activities are a waste of time. Many of the things I learned during startup activities can be learned online. When registering an activity, you must first check the participants.

5. I live in Silicon Valley, but not everything depends on Silicon Valley. For example, your users are not people in Silicon Valley, so you need to listen to user opinions in a wider area.

6. It is never too early to earn money. If you get the money, you may not rush to make money, but this is wrong. Think of some ways to make money and try it as soon as possible so that you can learn more.

7. experienced employees may not be better than new employees. You will hire some experienced employees at a high price, but don't forget that some people are suitable for working in large companies, while small companies require faster execution and single-stick combat, at this time, new people will have a more challenging desire.

8. Social media circles determine your development. If people around you are smart and successful, your progress will be faster.

9. Do not live in imagination. If you often read entrepreneurial stories, it seems that everyone's success is not difficult, but it is not the case. Do not start a business in order to pursue a lifestyle or think that entrepreneurship is easier. Make sure you are actually solving the problem.

10. Pursue things you really know. Do not do things with instant enthusiasm, but do the fields you actually know. Buffett's investment was successful, because he recognized this. He will not invest in Microsoft because he knows that he does not know the technology industry.

11. Successful people do not always know what is best. Others' experience may not be perfect for you.