What Every Entrepreneur Needs to Know to Succeed
Your business only grows if you do.
We always say looking at the growth of a business without looking at the growth of the business owner as well, is like having cake without icing, or starting a fire without wood. Growth of both is needed to become rockstars.
- Get going on learning as much as you can!
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Strategy
Strategic management entails assessing the current state of the business, evaluating business goals, the organisation's vision and objectives as well as future plans. Effective execution of the action plans remains the single biggest reason for failed strategies.
People
Employees are a critical component of any business. Managing your people will be your most challenging yet rewarding task as a leader. Their performance, commitment and loyalty to the organisation are vital and can be achieved through successful HR management.
Product
Identifying a problem has launched many an entrepreneur, who find a solution to that problem that can generate revenues. The path to profits is, however, littered with products that did not appeal to the market. The product simply did not fit the need. Conduct proper product-market fit research before launching.
Marketing
Marketing is essential to successful businesses. All large and successful companies started off small but had well-developed marketing strategies. Without proper marketing, your business will not grow large enough to scale.
Sales
One thing that is essential to the success of your business? Sales.
If you can’t sell your product, nothing else matters. Finding what works to generate sales at your company is key to your success.
Operations
Operations Management is the successful process of transforming inputs such as labour, capital, equipment, land, buildings, materials, and information into goods and services that add value to the customer.
Finance and Accounting
Unquestionably, finance is one of the most essential functions of a business. Financial management helps the organisation determine what to spend, where to spend and when to spend.
Technology
The ability to commercialise the technology by progressing from the idea to monetising is crucial for business success. There is a clear link between the organisation’s ability to commercialise and its competitiveness in the market.
Funding and Valuation
If you are trying to raise capital for your company, it is crucial to determine the company's worth. Build your business into a valuable asset so that you can exit at a higher value to an investor.
Entrepreneur
Before we think we have to be born as entrepreneurs, how about we understand first what we should know that we don't about ourselves as entrepreneurs, and then make a decision?
Legal and IP
It is easy to sign a contract but challenging to get out of a bad one!
The law creates the environment in which to work and will impact the business in many ways. Every business owner must know the basics of operating in their country’s legal framework.
Strategy
Strategic management entails assessing the current state of the business, evaluating business goals, the organisation's vision and objectives as well as future plans. Effective execution of the action plans remains the single biggest reason for failed strategies.
People
Employees are a critical component of any business. Managing your people will be your most challenging yet rewarding task as a leader. Their performance, commitment and loyalty to the organisation are vital and can be achieved through successful HR management.
Product
Identifying a problem has launched many an entrepreneur, who find a solution to that problem that can generate revenues. The path to profits is, however, littered with products that did not appeal to the market. The product simply did not fit the need. Conduct proper product-market fit research before launching.
Marketing
Marketing is essential to successful businesses. All large and successful companies started off small but had well-developed marketing strategies. Without proper marketing, your business will not grow large enough to scale.
Sales
One thing that is essential to the success of your business? Sales.
If you can’t sell your product, nothing else matters. Finding what works to generate sales at your company is key to your success.
Operations
Operations Management is the successful process of transforming inputs such as labour, capital, equipment, land, buildings, materials, and information into goods and services that add value to the customer.
Finance and Accounting
Unquestionably, finance is one of the most essential functions of a business. Financial management helps the organisation determine what to spend, where to spend and when to spend.
Technology
The ability to commercialise the technology by progressing from the idea to monetising is crucial for business success. There is a clear link between the organisation’s ability to commercialise and its competitiveness in the market.
Funding and Valuation
If you are trying to raise capital for your company, it is crucial to determine the company's worth. Build your business into a valuable asset so that you can exit at a higher value to an investor.
Entrepreneur
Before we think we have to be born as entrepreneurs, how about we understand first what we should know that we don't about ourselves as entrepreneurs, and then make a decision?
Legal and IP
It is easy to sign a contract but challenging to get out of a bad one!
The law creates the environment in which to work and will impact the business in many ways. Every business owner must know the basics of operating in their country’s legal framework.
