Do you want to start a business, or make the one running a success? Then you must follow the steps taken by the great ones before you. Most people with mildly successful businesses often take a philosophical approach where they assume the reason behind things. If you want to break this barrier you have to accept the science side of it. Some methods have been proven effective for any start-up, or the growth of an already established brand. These methods are best learnt from the gurus of the industries. One exceptional entrepreneur is Jason Guck. He cofounded 5Linx; which was a startup and turned it into a million-dollar enterprise. In this article, we will go through his ten rules of entrepreneurship.
1. Define Your Mission and Vision
Often most people don’t have a mission or vision for their business. According to Guck, missing these two when you start your endeavor means you will not have milestones to measure success. In this sense, your company has a high chance of stagnation because of a lack of direction.
2. Follow Your Passion
Most of us just pick a business idea because it was just available. However, Guck strongly suggests that we should focus on our dreams and passion. According to his rules, you should not do what you do not want. If one would focus completely on what they wanted, there is a high chance that they may become successful. Therefore, every entrepreneur should venture into a business that goes along well with their passion.
3. Work Smarter not Harder
As an entrepreneur, you must trust that decision-making is more impactful than believing in a single point of view. This is an important aspect of Guck’s philosophy because mastering our response in an adverse situation helps create sustainable and resourceful solutions. Working smart entails using the mind to figure out solutions instead of trusting brute force.
4. Hire the best talent
In a growing business, there is often a lot of moving parts. Micromanaging is not always the case if one wishes to grow and develop. Guck suggests that it is important to get people to work for you especially in areas where you’re are not capable. Allowing yourself to trust in others is also a stress relief when things do not go as planned.
5. Economize your expenditure
Spending less to get more done should be the mantra of every entrepreneur. Most of us believe that quality is dictated by the amount of money we spend, which is not the case most times. According to guck, we should aim to reduce waste in resources and energy to ensure that the business runs optimally. Optimal conditions will get more things done.
6. Embrace Failure
We are all afraid of failing and that is why most of us end up doing what we want. However, Guck says that failure is an eventual part of the learning process. To him, failing is not to fall, rather, it is to give up. He urges every entrepreneur to accept the fact that they will fall and prepare ahead to rise when they do.
7. Relentlessly Chase Your Purpose
Some of us believe that the business is just a shop for making money. Guck discourages this flawed perspective by suggesting we think of the business as our purpose. Having a point to focus on every day is a creative way to get the business running even when the returns are not as expected.
8. Promote Your Community
It is important to look at the area around where the business is centered and decide what the place might benefit from your success. The social and environmental aspects of the areas surrounding where the business is established have a critical impact on how success is denoted.
9. Embrace Change
The only constant is change. This could not be truer in the business world. According to Guck, an entrepreneur should be extremely versatile if they wish to adapt to the ever-changing business world. Embracing change allows businesses to grow and develop to fruition.
10. Always Test Your Limits
The final rule is to try and poke a hole in what is considered the limits of your business. Every boundary can be pushed a little further, and it is your job as an entrepreneur to make sure your business goes the extra mile.
Every entrepreneur wishes to find success in their endeavor. However, few will become that. Guck’s rules can play a huge role in giving your business the much-deserved lift.