To anyone who would be interested to manage a business -- be EXTRA careful!
Any business industry has certain inherent weaknesses that make doing normal business very tough. To some with special abilities, it is a blessing. To most of us however, we need to expand our thinking in order to understand and be able to compete on another level. You will not find all the answers in books. But, resourcefulness will be the key to your success.
I was fortunate enough to have been with several start-up businesses right from the very start. Deep experiences of what it felt like to start companies and nurture it -- companies that constantly tried to match the high standards of the bigger suppliers and the naturally selective customers.
From all the ups and downs, I have managed to pick a few generic lessons, which may be important to any company. Whatever you will be doing in the future, whether you will be starting your own $10K business or joining a $1B company, please try to consider these six points:
1. Always start with a written contract. Ask for P.O.s. Establish SOPs. Be it with your customer or your partner, when everything goes wrong, you at least have something to go back to. Hopefully, you will mutually understand and recover quickly.
2. Do it with good intentions. Remember that you are for long term relationships. Assess the customers' needs carefully, and push only what is really needed. Trust me, selling will become a lot easier.
Have a good relationship with your customers, suppliers and employees -- during breaks or after office hours...they are people too [smiling]. Have a bottle of beer. Yes, there will be bad times, but let it pass. I believe there is such a thing as "luck" factor. No matter how prepared your group is or how many variables your plan has considered, there is still a possibility that something new and unexpected will come up. This factor has so small a weight -- yet it can spell the difference between total and moderate success.
3. Do not make people expect too much. It is a good thing to show positive expectations, but it should be with basis. Start with reality before explaining the better scenario.
Never commit IF you have not consulted everybody you depend on. Reputation can be hard to recover. Too many targets were not met because of this.
Same as making them expect, do not try to eat too much of what you can actually take. You can never go through two separate roads at any one time, just as you cannot almost always do two activities at the same time. When you juggle balls, one will always be left hanging in the air. Prioritize.
4. Look, feel and listen. Think before you leap. The past can give many insights...The present can show you things you have never seen before...Tomorrow will give you something to look forward to. Whatever you want to do in the future will depend on what you are doing today. And what you are doing today depends on how you got pass yesterday.
Never forget people who helped you in the past. Thank them for what you have become.
5. Details vs the BIG picture. Often, many people mistake the idea that seeing the big picture makes a good manager. These people make too many generalizations. Your general picture should be built on the details. Start from the bottom and learn the ropes. Do not forget that we have output because of the "little" stuff or the "details" that our "little" people do for us.
Have the courage to admit if you do not know what you are doing. If you are just starting, immerse yourself thoroughly. Touch it.
I can never have enough paper to write what I wanted to share with you. But, if I have just one single line, I would say:
6. Focus on one strategy at a time. I am sure you came up with a strategy based on several tested frameworks or concepts. Do not abandon this at the first sight of the unexpected.
Always being on the move does not mean you will reach your objectives faster. Constantly turning to the left and right never got anybody anywhere -- you just get left with a confused organization.
All of these boil down to relationships. What we are doing affect all the people we work with. Try to become a real part of the system, and not the other way around.
The long road ahead is full of opportunities. What would matter most now is our ability to see things beyond the traditional channels, understanding them, and using the right tools. Good luck to you! May you harvest the rewards of your effort -- your sacrifices at work, home and, yes, school.
