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Dry cargo 57 experience on Entrepreneurship

those talented, experienced people have written a lot of entrepreneurial experience, I want to add some content. I summed up the experience of the past four years. If you are going to start a business, I hope you have a smooth road.

team building

1, if your team of 2 to 4 people can not be profitable in the next 6 months to 1 years, then there is a problem. Unless you choose not to make a profit, it must be your choice, not the market.

2, the average distribution of shares in the founder team.

3, there has been an option exercise plan.

4, make the majority of decisions based on consensus, but the only one CEO has the final say. Clear from the first day.

5, your authority as CEO is won because you are from scratch. If it wins, it will grow and vice versa. Don’t try to abuse the authority you didn’t win.

6, morale is real and can be permanent. If you do not win for a long time, your investors, employees, family, and you will lose confidence. Work hard, don’t get into this situation.

7, careful selection of the original team members. Everyone should be happy to work with at least one business related skill, highly efficient and practical. Everyone should have a sense of product, in the product and the company has a common philosophy.

8, the standard that you use in your work, is what you accept. Select a small set of the most important and non-negotiable rules for you, and do so without any difficulty.

9, dismiss those who are hard to work with, inefficient, unreliable, no product conscious, and not practical. Quick dismissal.

10, some friction is a good thing, but too much friction. Dismiss those who make too much friction. Good work + bad habit = you are fired.

 

funding

11, if you have to give up the control of the company in a round of financing, then the company must have a problem in some aspect of the 15%. This can be saved, but not ideal.

12, if you have not won the respect of people, then rely on attractive financing is much easier than relying on storytelling financing. If you have to rely on storytelling financing, but do not have their own reputation, then there must be a problem.

13, their financing negotiations as a product can survive at least, after the launch, each time to meet repeated.

14, most of the recommendations of the investors to help companies optimize and develop, humbly listen to. >

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