What it takes to be a successful entrepreneur
Posted 09-17-2008 at 11:18 PM by sarisri
- Revenue should always outstrip expenses. A lot of people, when they start a business, want to get fancy stationery, business cards and a nice office even though they don't have customers. That's a formula for disaster. Instead, an entrepreneur should primarily focus on the revenue generation activities and should create the infrastructure needed ( office, business cards etc) only if it helps him in increasing revenue.
- Collect your bills. You can't afford to be a banker for your customers. Timely collection of invoices is crucial.
- Take care of your customers. They pay your bills and write your checks. So take at most care of providing excellent customer service to them. Always under promise and over deliver.
- Take care of your people. As you build your business, your people are not the company's most important asset. They are your company and make it all happen. So, nurture your team by instilling belief, providing value and encouraging them to deliver the results expected.
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