Ten commandments of a good entrepreneur
TEN COMMANDMENTS OF A GOOD ENTREPRENEUR will teach you especially what you should not forget before you start a business and, if you are already running one, what steps should take to protect your business and family assets.
OPENING ADVICE: Don’t risk losing a lot for little gain!
- The kind of person you are is reflected in your business dealings!
- When drafting a business plan, take risk into account!
- Choose a field of business with a competitive advantage!
- Separate your personal and family assets from your business!
- Choose the right form of business!
- Do business by yourself or pick your partners very carefully!
- Establish the right price for starting your business!
- Have financing for the entire project ready in advance, including reserves!
- Think about company costs in advance and continually try to optimize these!
- Keep written accounts of all your business relationships from the beginning!
CLOSING ADVICE: Do not spend more than you earn and make reserves for bad times!