I didn't think of these 10 things before I started my business.

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When you start creating a company, your primary goal is definitely to go for income. Mine is the same, of course, but also to ensure that my company in the absence of VC investment or loans to continue to develop. Looking back over the years, night and night in the underground room immersed in struggle, indeed experienced a lot of things, and many are not in my business before I never thought of.

Don't let taxes sneak up on you, do a tax plan every month

When you create a company, you will pursue profit, at least at the capital. And once you start to have the revenue, government agencies get involved. Whether you like it or not, when you create a profit model, remember that part of your revenue is taxed. So when it comes to boosting the profits of your products and services, plan for how much revenue you want to earn after you throw away the tax. Make a quarterly tax plan so you don't meet the next quarter with a thousands of dollar debt.

2 – People's Lies

In business, trust is very important, especially in the process of building good relationships with suppliers, customers, and employees. But people are flawed-most are seeking to maximize their own interests. So learn to study them when dealing with them. You have to try to understand everyone's psychology, motivation and key. Identify project deliverables for each employee so that you can follow the accountability system to identify truth and falsehood.

Numpad must always determine the relevant person

In the service industry, often with you to discuss the cooperation of the other party is not suitable for his position. They probably got the job just because they knew someone, or just a college diploma. In your career, you should also encounter people who are not suitable for the position they hold. They are a disaster for the services you are going to offer to other companies. They don't have enough experience to make the right decisions, and they don't have a final say in the company. This leads to inefficient time management and loss of corporate profits.

Numpad cash flow and profit is far more important than revenue

is a simple math problem, but if you ignore such simple accounting problems, your business will fail. The revenue figures are really good: they may be cash or accounts receivable-and you must be excited when you see these dollar signs. As you know, revenue is your profit by excluding your product costs and related costs. Successful CEOs will focus on achieving profitability, so that they can continue to invest, product diversification development, enterprises can grow.

Numpad If you are prosecuted, weigh the pros and cons before entering court.

If you have a defect in one of your products, or if you make a bad suggestion-you are likely to be prosecuted. When you first experience such a horrible thing, you may feel panic. You may feel that your world has suddenly collapsed or your business may have failed. At this point, you should immediately ask your lawyer for their advice and tell them the whole story. Weigh it, choose whether to fight in court or to settle out of court, because you know the costs of litigation are expensive. In addition to legal fees, it will take up the time you originally invested in your work and your chances of getting more profit. Weigh and choose the least-lost solution to solve the problem, but make sure your choice is not unethical.

Numpad to have a formal, physical office space

This is the one thing that surprises me most. I find that we have lost a new client's bid because we have no physical office space. I believe my team is better than our competitors and believe that the solutions we offer are excellent. In this era, people can choose to work at home or in a coffee shop-as long as they have access to the Internet. However, for midsize enterprises and large enterprises, it is very important to have an office. Why? Because it helps you build trust between the customer and the partner, and let them know that you are not unreliable, so that when you sell your product, they increase your chances of reaching a deal. In the choice of office space, there are now more economic options: Flexible space, incubation center and the office of the start-up companies, etc., you and other small enterprises to share a collaborative room. Look for a conference room with a pristine, economical but well shared meeting to negotiate business with your customers. A professional impression will give you completely different results.

Numpad still have a lot of homework to do even if he leaves school.

Do you remember the days when you didn't finish your homework at school? At that time, you will receive the punishment, may be the sharp condemnation, may also lose a few credits. In the business process, the meaning of this kind of work is different, those who finish the homework on time may surpass other competitors to win the market. In addition to the business promotion, you have to do a lot of homework such as: competitive research, industry trends or the cleanup of details, and so on. Now if I don't do these lessons, I will lose my competitive edge, lose a new client's bid, or suffer from government penalties for not paying taxes on time. So, do these lessons on time, even better.

8– protect himself by law

As the 5th article says, protect yourself with the law. According to all relevant laws to register your business, brand name. It may take time and money, but when the problem happens, you'll find that every penny is worth it. Hire a top lawyer who is proficient in your industry. Listen to the current legal issues they provide to help you prepare for legally binding contracts such as employee contracts, agreements with suppliers, confidentiality agreements, etc. A good lawyer will help you with any problems you encounter.

9– reasonable time to prevent exhaustion

I found that one of my biggest challenges was time management, especially when it was hard to squeeze out a little free time and I had to plan. If you focus on your business 24 hours a day, you may overlook the big picture and just focus on the details. Give yourself a relaxing weekend. After working hard every few weeks, choose to spend a relaxing weekend. Stay away from your mobile phone, your laptop, and relax your entire body and mind, and you'll be pleasantly surprised at the new ideas you think of at this point.

10– you will fail.

You can't be omniscient, especially today, when technology is growing fast, and no one can understand every aspect of the business on his own. That's why you need to build a good team. Failure is not a terrible thing-anyone can learn from failure. And what I've learned is that when you fail--fail quickly, don't get blamed or sorry for it--you should quickly make a judgment on how to correct past mistakes so that you don't stumble over the same problem again. (Compile/Hiroshi) Via:under30ceo