What do you think is the most critical factor in the process of starting a business?

I think five key elements in the process of starting a business:

1. To have a good management team, everyone should have several jobs, because in the early stage of starting a business, everyone has to shoulder different jobs to save the cost of the enterprise;

2. You need to have good technology, ideas and apply for patents, so that others can't steal your ideas;

3. Have enough money, but be careful-if you raise too much money at the beginning, the equity will be diluted, so the best way is to stop after raising enough money and do more fund raising after completing the work goal;

4. Be very careful about the cost at the beginning of your business, don't buy very expensive vehicles and equipment, and spend money on research and development;

Develop and market your products as soon as possible, so that there will be enough cash flow to maintain the company's operation. You can't stay in R&D for five or ten years without listing products, which will lead to a shortage of funds and the closure of enterprises. Entrepreneurship is a process in which entrepreneurs and business partners work hard to optimize and integrate the resources they own or can own, thus creating greater economic or social value.

Entrepreneurship is a kind of behavior that requires entrepreneurs and their business partners to organize and manage, and use services, technologies and utensils to think, reason and judge.

According to the definition of NewVentureCreation, a classic textbook in the field of entrepreneurship education written by JeffryA. Timmons, entrepreneurship is a way of thinking, a moral quality and an outstanding talent, which requires comprehensive consideration of methods and harmonious leadership.

Entrepreneurship is dedicated to understanding the opportunities to create new things (new products, new markets, new production processes or raw materials and new ways to organize existing technologies), how they appear and are discovered or created by specific individuals, how these people use various methods to use and develop them, and then produce various achievements. Entrepreneurship includes leader entrepreneurship, entrepreneur entrepreneurship and college students entrepreneurship.

Entrepreneurship has a little secret, that is: entrepreneurship is a very painful thing, which will make entrepreneurs fidget. The bigger the entrepreneurial idea, the more it will bring lingering pain and make the entrepreneurial partner team sleepless all night. Only when the idea of starting a business is gradually clear and shaped can the pain be slightly alleviated. But the troubles, sweat and even tears that entrepreneurs have to bear will not end there. In the painful process of starting a business, the entrepreneurial partner team should know the following points in order to make the road to starting a business easier.

directed

Have a clear entrepreneurial goal, work hard, strive to realize your ideals, live up to your youth, and make contributions to society and people.

Create value

The employees employed by startup companies should not only meet the job requirements, but also create added value for the company. In the most critical initial stage of starting a business, capable entrepreneurs and their business partners will not always consider saving in employing people.

Life planning

Entrepreneurs and their business partners should manage personal finance and corporate finance respectively. Before starting a business, make sure that there will be no problems in your personal life, otherwise it will be difficult for you to succeed. Entrepreneurs and their business partners can solve the company's working capital needs through loans. Entrepreneurship is for a better life, and life is not for a better entrepreneurship.

advance and retreat

Finally, entrepreneurs and their business partners should formulate exit strategies, and they can choose to transfer, sell or operate independently. Entrepreneurs and their business partners must also know when to enter and when to retreat.