Strong business brings money and joy, weak business brings problems and stress. A strong business has a good reputation, attracts customers, scares competitors. Weak business has a bad reputation, discourages customers, makes rivals laugh. Probably the most offensive is the fact that weak business makes competitors laugh.
It’s very unpleasant to imagine how competitors laugh when they talk about someone’s weak business. Surely they are not just laughing, but also gloating, because they can easily distort the real situation in such a way that a weak business looks even weaker, more defenseless and funnier than it actually is. In other words, a weak business is a reason to mock. Continue reading
The proper start to your own business is to find a promising idea. A good idea is a guarantee of a successful business. Most businesses go bankrupt in the first year just because they are based on either no idea at all, or the idea has no prospects. 80% of success depends on the idea and another 20% depends on how and by what algoritm it is implemented.
Analysis of the most expensive companies in the world shows that each of them was based on a promising idea. In turn, the analysis of failed startups shows that they were based on an idea that initially had no prospects. All this suggests that you should not take up the first idea and start a business based on it. Continue reading