Entrepreneurs successful eight elements

If I know the right answer, then all these years I will commit many mistakes. However, I still try to list the following in my opinion the most important factors:

Work for yourself. Your boss may be lonely, but may work, but if you're lucky, and judgment is correct, you will reap the rewards. In a large bank or certified public accountants to work, you can live very well, but you'll never get rich capital gains, or as entrepreneurs like dreams, change the world.

Possession "geography". Historical experience shows that, relative to the demand in the doldrums, tax burden, supervision of the strict market, encourage entrepreneurial growth market can provide more opportunities. For young people under the age of 30, I had been proposed. This is a rough judgment, there exist many exceptions, but it is undeniable that India and China and other countries, the creation of a new branch of millionaires and billionaires, is far more than in Europe.

Learn how to borrowing. Access to and use of the capacity of the debt, is that most of the wealth of an element in the story. Even at present the Bank lending is not much, but will turn to the economic cycle, the Bank will open their doors to business again. It took me a long time to realize the importance of using debt. Many entrepreneurs in credit peak very far, but they rarely bankruptcy, often in the cycle turns, with new comeback of bankers.

Clenched shares. Do not prematurely or diluted shares, but as much as possible to retain ownership. Personal only through equity value capital appreciation to get rich, but not through the salary or dividends. Entrepreneurs are often early in the project will be substantial shares for transfer to the junior partner, in fact, you should only have no other choice is to do so. If possible, it is better to use other forms of currency.

Clear when to fight for glory. For most business people, the life will present several unique opportunities and needs in ambition and scope for a significant leap forward — perhaps a new factory, a major purchase, or is a breakthrough product launch. This time, if you want to transition successfully, you must be willing to try. Of course, this kind of measure risk and reward go hand in hand. Any investment in the risks that exist for the downlink when is the right time, the winners have an intuition.

The establishment of a team. Almost no one can succeed alone. Success among the top ranks of the enterprise must recruit outstanding managers, managers must have the strength and depth. Great leaders know how to choose good performers, as well as how decentralization and motivate staff. They are quite modest, know their own shortcomings, and through the recruitment of staff to remedy these deficiencies.

Have the capacity to fight fight. Build a powerful company not only physical, but also requires perseverance. Prospects bleak, parting seemed to be the only choice, often these moments will be winners and others distinguish — winners never despair, others choose to keep it up.

Mastering the industry knowledge. Focus on a certain industry, a real understanding of this area of technology, market, competitors, the most outstanding talents, profit and growth trends, etc., usually obtain a return. Choose a quick change being experienced, will increase your chance of getting rich-confusion often provide opportunities for new entrants.