 Richard Branson | Starting Your Own Business: Four Common Mistakes
What are the Common mistakes committed by entrepreneurs to start?
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QUESTION: What are the most common errors committed by entrepreneurs to start? John Gachiri
A: Making mistakes is part of the process of creating a company, to recover quickly from them is important. It's all part of the adventure of being an entrepreneur, which requires all your energy, initiative and determination.
But his path to progress is not fully known: when it perceives an opportunity not to have happened to anyone else, there are certain steps to turn your vision into reality. Should develop innovative business plan, find funding, recruit the right people to carry out the plan, and then withdraw from the role in the business at exactly the right time. Let's see what these steps: Stay focused on the goal: an error factor associated with the first step is the inability of an entrepreneur to communicate concisely and clearly the idea. It is necessary to generate the desire to participate in investors, partners and potential employees, so polish your "elevator speech"-which falls upon casually say if a potential major investor in the elevator. Remember, the shorter the message, the clearer.
A related error is the lack of focus. If your new company has been called "the next great company," the adrenaline rush caused by rumors can lead to rash decisions and the loss of their original approach.
Trying to plan ahead is dangerous. If your product or service is still in the design stage is not diverted to plans for future releases.
Be flexible, because in the same way that lack of planning can be a problem, adhering blindly to a plan is a sure way to take your company to the precipice.
Be realistic about costs: do not damage your new company when calculating the required funds, because they only succeed in reducing your chances of success. Keep your expenses under control is vital, but do not confuse capitalization costs.
the late 90's, David Neelman said I needed $ 160 million as startup capital for JetBlue. Most so-called experts scoffed at the idea that it would be able to find such a sum and launch a low-cost airline at a time when other established companies were going bankrupt, one after another. But he clung to his idea and gathered the resources needed. As a result, JetBlue was one of the most successful launches of all time, and a net income of only six months after its opening in 2000.
Hire people who need, not that sympathetic, by tempting it may be filling your new business with friends and relatives, would most likely be a serious mistake. If you do not work, ask them to go will be very difficult. Take full advantage experienced group of people that you have created yourself, when a problem arises, remember that nobody has all the answers, including yourself.
Know when to say goodbye. A successful entrepreneur knows when it's time to leave his role as CEO. It is seldom easy, but it must be: few entrepreneurs become great managers. In my own case, managing the daily operations of a company is simply not something in my DNA. Withdraw from command
does not mean turning his back on his business. The founders should not hesitate to reintegrate into their business when needed-see Larry Page, who has returned temporarily to the post of CEO at Google in April. That said, I had to laugh when I heard this news, wondering how many business managers Virgin had thought: "Gee, I hope this does give you some ideas to Richard."
SEE, THINK, WRITE . Greetings
Rodrigo González Fernández
Diploma in Corporate Social Responsibility "UN
Diploma in Knowledge Management" UN
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