The 18 Most Important Issues Of Entrepreneurship

In the vagaries of the market,

First, what is the value proposition of an enterprise? There is no value proposition if you can't explain the reason why the customer needs the enterprise product in three or less big words, so there is no business.

Two, whether there is a viable market for enterprise products? This requires Market Research and attracting venture capital.

Never think that demand can be created before market demand exists.

Three, what is the difference between an enterprise product and a competing product? If you want to win the business, you need to provide tangible values that other companies do not have.

But marketing alone can't do all this.

Identify the advantages of the product and strengthen it.

Four, does the enterprise have the scale of business? The gap between small and rich is "scale".

A large scale enterprise can produce the next component at very low cost.

Five, what do we need to put in order to achieve all this? In order to get the business on the right track and prepare to work 100 hours a week in the next two years, a reasonable warning is: if you want to start a business, you must be prepared to give everything.

Six, what is the strength of an enterprise? Identify strengths and stick to them.

Perhaps this is a clear idea, but many enthusiastic entrepreneurs have lost their way, especially when the world seems to be full of possibilities.

Seven, what is the shortcoming of enterprises?

Wasting resources will only become mediocre, which is like suicide.

Focus on the areas you know, and find trusted partners to deal with other things.

Eight, what price the customer will pay? Making the customer willing to pay the upper limit is one of the biggest keys of any business mode.

The consulting firm is very remunerative because it helps the company make a reasonable price.

Nine, how much power do the buyers have? If customers ask for a big price cut, loss or bankruptcy, business will be over.

Diversify customer base and diversify business risks.

Ten, how much power does the supplier have? The smaller the number of suppliers, the bigger the variables, the more the cost will be.

Also, be careful of low cost suppliers who are hungry and choosy. They won't care about the quality of products.

Eleven, how should we sell products? Jump over retailers, sell products directly to customers, or rely on distributors for distribution, or adopt both internal and external channels; or set up a fashionable experiential shop, use skilled geek customer service representatives and on-site product tutorials to improve.

No matter what sales mode is used, we must ensure that it is in line with the overall business strategy of the enterprise.

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Twelve, how big is the threat of new market players? Where there is competition, there is money.

If it does not constitute a direct opponent, then alternative technology will bring advantages.

By registering patents, ensuring substantial lease orders and establishing loyal followers, the threshold can be established before new entrants enter.

Thirteen, how to protect intellectual property rights? Enterprises have a new invention, before the prototype is made public, please register temporary patents.

This can protect creativity, and enterprises can make use of this period of time to improve.

Fourteen, how much venture capital do we need? Most enterprises fail because of capital shortage.

There is no absolute law in this respect.

Fifteen, how to finance? There are some options, including credit cards, angel investors, venture capital, bank loans, and the most expensive way - stock.

However, it is important to note that selling shares to the public will be accompanied by a lot of headaches, including dilution of ownership, loss of control and regulatory barriers.

Bottom line: if you can, start from scratch.

Finally, we should remember that we should seize the opportunity of inflow and outflow of capital so as to bear the debt.

If the timing does not match, there may be trouble.

Sixteen, what kind of financial plan is there? If there is no goal, we can not lead the enterprise.

The two milestone: 1) in a certain period of time, the amount of cash flowing into the enterprise is more than that of the outgoing cash; 2) the time when the initial total investment is recovered (including the adjustment based on the time value of money).

The financial plan should be reasonable.

Seventeen, how to make employees happy?

In particular, we should try our best to motivate them if they are not talented. Wages are only one end of the equation.

Eighteen, what is the last step? Different final steps require different strategies.

Always remember what you want to do.

To figure out whether to build the next big business empire, or just want to earn money to leave.