Why are such entrepreneurs the easiest to succeed? This is the best explanation I've seen
entrepreneur
Pharaoh once participated in a study and discussion group in the venture capital circle. What kind of topics are discussed in which entrepreneurs have a higher probability of success in starting a business? After nearly an hour of brainstorming, the conclusion is that in addition to the entrepreneurs themselves, the core team recruited by entrepreneurs, especially the partner talents sought by entrepreneurs, have a relatively high probability of success in entrepreneurship.
After seeing the conclusion of this brainstorming, Pharaoh thought of a big celebrity in the venture capital circle. He said that for an individual entrepreneur, being excellent is a must, but his partners and his core team must also be sufficient. Excellent and reliable, otherwise I would not invest in him. It appears that the housekeeping's views are strikingly similar.
Although the conclusions are consistent, these are only prerequisites and the possibility of successful entrepreneurship, but the core is the performance of project data after the start of entrepreneurship and whether the project itself can be realized, these are the key. Just like a partner of a venture capital firm, when he looks at a project, he first looks at the reliability, availability, and whether the project has a ceiling effect, etc., and then looks at the data. If there is no data performance, it can only show that the project is general, and it will not choose to invest in general projects. Because investors invest in real money, they usually choose the best team and best project in a certain industry, and the rest are bullshit. It is not excluded to invest in a competitor and finally make an acquisition, which is also the performance of successful investment. Today we don't discuss investment, only the possibility of entrepreneurial success.
For entrepreneurs to be successful in starting a business, there is a prerequisite for team building:
Do everything possible to find a suitable partner. For an entrepreneur, a partner is his co-pilot, assistant, and driver. Only an old driver can drive the car stably and go fast, so that the car will not overturn while speeding on the highway. To find such a talent, you must have consistent values and complement each other. After that, you must trust him, everyone trusts each other, and you can even procrastinate according to fate, so that things can be done well. It is also the reason why many investors begin to judge partners after judging the CEO.
Establish a core executive team through various channels. After entrepreneurs find partners, for entrepreneurs, it is to find and form their own core executive team through various channels. For the senior management team, the premise is that everyone’s values are consistent, and then each team member has a “unique skill” that can help entrepreneurs and complement the team. For example, some people are proficient in finance, some are proficient in Marketing, some are proficient in sales, some are proficient in discovering talents, etc., only if everyone has such a "unique" and maintains the same values and mutual trust, such a team is unsuccessful, God will cry .
Interact more with the team, and mutual trust is the core. After the team is formed, it needs the running-in of the team. It usually takes 3-6 months for a great team to run-in. When the team is running in, there must be some problems. This requires the founder to rely on his own charm and leadership. Conquer everyone on the core team. Through the team running-in period, it is also possible to find out the problems of the team and whether the founders really have leadership and unity, each of whom has "unique skills", which is a big challenge for entrepreneurs. As long as the founder has passed the team's run-in, the team will succeed in everything.
Establish a red line and reward and punishment mechanism, encourage more team members, and go all out to do things well. After the team runs in, it must stand out in the fierce business battle. In the market battle, there will inevitably be cases of failure. It only needs the founder and the leader of the team to constantly encourage everyone, and let everyone go all out to complete it with a spirit. At the same time, establish a reward and punishment mechanism and red lines, and use the system and culture to spur everyone forward.
Pay attention to execution. No matter how good the entrepreneurial project is, it is useless without execution. Team, what is a team, a team is everyone working together, regardless of one's own health, go all out to implement things to the extreme. A team without good execution is nonsense. The team's execution ability is not spoken out, it is beaten out in the market.