1. The ‘Better a bird in the hand’ principle
Do not wait to start a business on that one million idea that will make you treacherous. That’s what everyone does. Just start with what you have: your knowledge, your network and not to forget all the other resources at your disposal. Use the opportunities that arise and make optimal use of it. So do what you have and do not focus on everything you do not have. Because learning rowing with the belts you have is much more possible than you’d ever dreamed of.
2. The ‘How much can I have?’ principle
Imagine yourself before starting a business: What can it cost me? Not only in terms of financial investment but also time investment and emotional taxation. By telling you once and for all how far you want to go, you determine the frameworks in which you feel comfortable, and so the best is going on. This principle is contrary to the approach of most theoreticians who always assume the question: what does it give you? Moreover, determining your boundaries must definitely not be a limit to the extent of your success. Now take Claudia Willems, the founder of Kleertjes.com. She set a clear limit on her investment, yet expanded into the largest online clothing store in the Netherlands with 125 employees and annual sales of 15 million euros.
3. The ‘Joint Artwork’ principle
Why take all risks yourself if you can share it with others? Therefore, look for similar parties for business cooperation. Thus, no one invests more than he or she can afford, and together you also get a lot stronger. You can use each other’s specific qualities, resources and network. Especially this latter is of great importance. Because the bigger your network, the greater the chance of success. It is therefore the art to have more eye for partners and less for competitors. And that is easier for many entrepreneurs than done.
4. The ‘unpredictability is okay’ principle
Having a pre-planned plan is good, but you must be able to leave this as the situation demands it. Because every new situation also offers opportunities, it is only the art to see and use it. The ability to deal flexibly and adequately with changes is the basis of the ‘Predictability is okay’ principle. See changes, not as threats, but as challenges, and take advantage of them.
5. The ‘The guy makes the tent’ principle
As an entrepreneur, you are strongly dependent on the market. Trends change and many entrepreneurs are involved. It is better to set the trend yourself, and thus determine the future of your business. Do not let the market lead, but lead the market itself. This of course requires daring and entrepreneurial vision, but if you succeed, the market is at your feet. The best example of ‘The guy makes the tent’ principle is undoubtedly Steve Jobs, who chose Apple’s own course and eventually got it right on his side.
Are you ready for success?
Each entrepreneur recognizes one or more of the above principles. However, it is harder to apply all five in practice, while the effect per applied principle increases exponentially. Fortunately, there are professionals who can perfectly assist you.