How to manage your business without doing these 3 basic errors?

When you decide to run your own business, you should not do the following:

1 You should not restore your home or go to the bank or investor capital for a start-up loan.

Usually, when people start in business, they have a very specific picture of how he will look. There is an office, a receptionist, carpets, offices, computers, a head stationery, cool business cards, a good marketing budget … etc. The most important question is not: “Where will I find start-up capital?” The most important question is: how are you going to get and satisfy your top 100 customers? The cabinets and the images on the wall do not make you money. Customers make you money. If you have chosen your business well – narrow, inexpensive, not original and early – you need to need a lot of money to get your first 100 customers.

2 You should not invite your companion or spouse to join you as a partner.

If you have a good business idea, keep it yourself. Why? Two reasons: You need 100% property, always and forever and nothing less will do it.

Entering business with a friend or spouse will not only kill the business, it will probably kill friendship or marriage too, so you are left doubling.

This is one of the most common reasons for business failure. This happens repeatedly. For one thing, being friends is a complete game of being trading partners. If you want to be rich, you have to embrace this state of mind. And it will ruin your friendship (or your wedding). Although you are totally equal as partners, however, inequalities appear very quickly in the hard and ruthless light of companies. By all means, you can use them and pay them. You do not need to create co-owners of your machine with wealth.

3 You should not spend weeks writing a detailed business plan

The only reason you would do that is if you went to the bank for a loan and that we decided it’s not sure. But some people do it anyway. They seem to have the impression that this will help eliminate things, develop anticipated strategies to deal with unforeseen circumstances, etc. It’s a waste of time. Why? Because market analysis and competition, projection of sales, cash flows and benefits and loss are all of them. It is imagined an answer to the imagined events. Your business plan should be five words of five words. Ready? “Get and keep more customers.”

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