Hello everybody!
I was reading an article some time ago in the online edition of “The
CEO magazine” and it talks about a successful first year in business.
I thought you might be interested because we are all currently attending our last year of business college and some
of us may think about founding a Company afterwards.
Basically, what it says is that the first year might be fraught with risks and challenges, but there are
five steps which help you to prepare and make it through every kind of inconvenience.
The first step is to develop
a solid business plan. According to what the author says, it is important to
let everyone know what your product is, why it is outstanding and to gauge how
successful it might be.
It is also said that being flexible and adaptable is
the key to achieving your goals. Often things don’t go the way you want them
to, so adapt to changes.
The author also mentions that it is important to be prepared to work hard, because
the business isn’t going to build itself. Be devoted and confident.
It is
also mentioned in the text that the fourth step is discipline. Stick to the idea,
but not to the plan. If you see a problem with your execution, correct it and
do not just give up. The articles last advice is to keep your ego check. It is
good to be confident but don’t exaggerate. Because otherwise it can happen,
that arrogance is getting in your way.
What surprised me most was that you don't necessarily have to stick to your
plans. Changing something won’t kill your business, it could actually be
helpful.
in my mind it is a very interesting
five-step advice, that is summing up how to behave when you want to establish
your own business.
What do you think about this article? Have you ever thought about establishing your own company?
Please
leave your opinion in the comments!
Fraught – belastet, angespannt
Gauge – abschätzen
Devoted – hingegeben
Execution – Ausführung
Exaggerate - übertreiben
https://www.theceomagazine.com/business/start-ups-entrepreneurs/how-to-survive-your-first-year-in-business/
