As a start up business there are certain fundamental principles that can help foster your success. These seven principles are applicable not just for young entrepreneurs, business owners and startups in Trinidad and Tobago, but solopreneurs and entrepreneurs worldwide.
So, here we go.
1. Pareto’s Principle: Twenty percent of your products will generate eighty percent of your income. Twenty percent of your income will require eighty percent of your resources. – Vilfredo Pareto
2. Don’t be afraid of going slowly. Only be afraid of standing still. – Anonymous
3. Make no investments without a full acquaintance with their nature and condition; and select such investments as have intrinsic value. – Benjamin Franklin
4. A good manager is a man who isn’t worried about his own career but rather the careers of those who work for him. My advice: Don’t worry about yourself. take care of those who work for you and you’ll float to greatness on their achievements. – H.S.M. Burns
5. Surround yourself with the best people you can find, delegate authority, and don’t interfere. – Ronald Reagan
6. Profit in business comes from repeat customers, customers that boast about your project or service, and that bring friends with them. – W. Edwards Deming
7. Have patience. All things are difficult before they become easy. – Saadi Shirazi
The implementation of these fundamental tips along with a professionally branded domain name (www.mybusiness.com), email address (firstname.lastname@example.org) and website will help pave the way for the success of your new business in the digital age.
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