Chapter 21 Letter 20 Desire to start your own business

What about heaven?Or hell? My Fighting Entrepreneur Daughter: For weeks now, you have been trying to get my clear opinion on starting your own business.The reason why I only give you vague answers is not because I am not interested in or disapprove of the matter.If you think so, you are wrong.As usual, I listened attentively to everything you said, but I think this is not a trivial matter, so I want to find an opportunity to talk to you face to face after careful consideration, that's all.Later, after much consideration, I thought it would be better to write my thoughts in a letter and send it to you, because this way you will have more time to think.

It seems that you finally have the idea of ​​starting your own business.In fact, I have been looking forward to the day you will have such a day.Because I can see that you have the same aspirations as people who want to start their own businesses.As you know, thinking about it and being successful with it are two very different things. The average person wants to start their own business for three reasons.The first is to taste the joy that comes with making money.Most of them also want to be praised by people.The second is to avoid the errands of others.The third is to enjoy the adventure and excitement that comes with directing.Judging from your many narratives, these three points seem to be the motivations that drive you to start your own business.My entrepreneurial experience can be said to be quite lucky.If you have a plan, determination and foresight, I believe you will have good luck, right?Running a business doesn't mean everyone gets lucky, though.Even lucky people get lucky after repeated failures.Therefore, I want you to know the following points:

You say you want to make a lot of money and let people know you are a successful person.Entrepreneurs who are like the rising sun and spend money like water are indeed a symbol of success. I don't deny this.However, what I want you to know is that there are many other successful people in the world.The purpose of their lifelong struggle is not to accumulate wealth, but to become top figures in their respective professional fields.Physicians, policemen, politicians, artists, and all walks of life have such successful people.Their greatness cannot be calculated by money!I hope you can imitate their spirit in your attitude towards life.

You already know the old adage that happiness can't be bought with money.When I was your age, every time I heard this sentence, I retorted: I still hope to have money, and I don’t need to buy happiness.After earning some money and living a luxurious life until I reached this age, I realized that this sentence is indeed the truth.No matter how much money you spend, others may not respect you.Love from the heart, health from God, these things can never be bought with money.What is true happiness, only those who have experienced it can know. You have shown that the reason you want to be independent is to be in charge of everything by yourself.Thinking of working under the instigation of others (especially when the instigation has a bad attitude) will lead to a lack of interest, it is better to do it on your own initiative, which is more pleasant and efficient. I do not deny that there is such a thing.However, it is not as comfortable as many people imagine to start a business and direct everything.First of all, there are certain position problems in running a business, which will make you worry all day long.

I know you want to make money, and you want to be the captain of your own ship.But what kind of ship is suitable for you to command?The problem is with this judgment.There are hundreds of options you can choose from, and what I want to suggest to you is that you should choose a field in which you have more or less experience.Every industry has many seasoned masters fighting each other.A layman can never beat these experts.They are strong because they have learned the tactics of turning defeat into victory through years of training. Opening up a new field is of course a great cause. I have infinite admiration for those who have no experience and only rely on their beliefs to finally realize their dreams.However, do you know how many losers are there under such brilliant winners?In order to succeed in starting a brand-new industry, in addition to having sufficient funds, it depends on luck.John.Kidz said: The cruelest hell is to fail in a great cause.I don't want you to experience such hell.What's more, you don't have so much money.Therefore, before making a big decision, I hope you will evaluate your experience in business management again, and then carefully choose a career field that can utilize this experience.

You may think that when you are determined to start a business and are ready to move towards your goal, instead of encouraging you, I will pour cold water on you, right?I never meant that.I just let you know the problems some people encounter when starting a business, for your reference.I hope the following words can also be used as a reference for you. I believe you have heard the saying that money can make money.This is true, and there are many ways.If you have ten million yuan in capital and want to earn one million yuan a year, this is an easy business.All you have to do is buy reliable government bonds with ten percent annual interest rates.However, it is your hope and also your challenge to earn a higher profit than this stable 10% by investment.The question is how to achieve this with the least risk.Now you want to know, how much should you put aside for your new venture without going bankrupt?My answer to this is that you can only take out an amount that you won't frown if you lose it.Although this is a very conservative method, it is a relatively safe and feasible method.There are many examples of a company being made bigger and bigger by the way the money earned is slowly accumulated and used as capital to expand operations when necessary.Once the foolproof plan fails, there will be no financial difficulties. You just need to take this as the basic principle.When encountering a great opportunity to make money, although you are unable to invest alone, you are unwilling to miss the opportunity. At this time, you can find a partner who will share the risk.This seems to be a difficult point for some entrepreneurs to do.

The next thing you should do is market research.You must not invest a large amount of money in order to manufacture a product or provide a service until you have done your market research.Before the start of the business, the amount of money wasted by people who call themselves managers is generally huge. On the contrary, market research and consumer research for the purpose of determining the advertising method, packaging, and price of new products generally cost a lot of money. Not very big.Before the start of large-scale promotional activities, you must use this method to confirm that your marketing strategy is correct and that the product is indeed popular.Otherwise, the result would be what our aging operators call an Edsel incident.The Edsel was a new car launched by Ford in 1960, and it failed miserably, which not only caused huge losses to this worldwide company, but also led to a discredited outcome.The main reason for that failure was that the market research was not thorough enough.What happens when a company is not prepared to act is the most typical example.The failure of Ford at that time was that it did not listen to the voice of consumers but wanted to grasp their preferences.

After writing here, what I want to say, you already understand, right?You want to get the excitement and satisfy your sense of adventure, so you decide to start your own business, and for that; I absolutely agree.At that time, you will find that the invisible roulette wheel is spinning behind your back, and most of your chips are spinning on it every day, right? !If you're using borrowed money in addition to your own money to invest in a new venture, the stakes are high.The borrowed money must be repaid. If the business fails, the creditor will definitely take the money back regardless of your life.

You're feeling a little uneasy, aren't you?If you're someone who can't live a life of adventure, it's only natural that you'd feel uneasy (a fact that socialists don't take into account when they try to extract our operating profits in the name of taxes).You are scared, aren't you?I'm panicking, aren't I?I know you have such a mentality, but, can people who like adventure do this?If your grandmother is still alive, she will tell you the old saying, "If you don't enter the tiger's den, you won't catch the tiger's cubs."I had exactly the same idea, just one more condition.Before taking any action, you must have a rainy plan financially, just in case.Some people say: If you want to see it, bet all your property, otherwise you won't win the big bet.I know there is some truth to this statement, but I don't want to take this approach.My credo is always: the amount of investment should be limited to the range where you will not be fatally injured if you lose it.In the past, with this kind of practical business policy, I have enjoyed the fun of adventure.

I have talked to you many times about diligence.Excluding some medical personnel, the person who works the longest and works hardest in the world is probably the sole proprietor, right?How can anyone who runs a business take forty hours a week and four to five weeks of vacation a year as a given?At least until you get real success. In order to govern the organization, you must properly coordinate experience, research, management, delivery dates, government inspectors, customers, banks, self-esteem, taxes, raw material suppliers, and company personnel to match your business principles and system.It is tiring enough for a person to constantly think about so many things.And you have to worry all the time, problems in any aspect may ruin your profit hopes, so there is almost no time to breathe a sigh of relief all day long.Businesses are like that.There is a mountain of things you have to deal with, and you have to survive the pressure that ensues.The degree of hard work can be said to be no less than horse racing.You may regret jumping into such a world, right?In fact, horse races are held every day, and you, even if it is not every day, you don't need to be faster than the horses, you still have to run with all your strength!

You have always been a very diligent person, of course I know that.However, I hope you can reconcile the two things of making money and pursuing happiness, and never mix these two points together, or even get them wrong.The status of being rich is indeed intoxicating.However, even if you become a wealthy person in the end, if you don’t even have time to take care of your own health and restraint, as well as the relationship with your family and friends, is the happiness you get worthwhile?Can this be called real success? George.George Bernard Shaw said something like this People often blame bad circumstances for their lack of recovery.I don't believe that environmental factors will have any impact.Stand up and look for the ideal environment in your mind. If you can't find it, create such an environment. This is the real successful person. Some people blindly pursue a peaceful and stable environment, work silently and live their lives quietly.You are very different from such a person.You want to live a challenging, adventurous life, and you do have the courage to live it.What should I do in case of failure?You are not the one to say that.You are absolutely right to want to start your own business and create your own environment.If you are free next Tuesday, let's meet and talk about this matter!However, I have to declare first that you cannot leave your current position just because you are already a very important existence to our company.Even so, I promise you that in handling this matter, I will not hold personal feelings.I don't want you to go, but I will not suppress or hinder you from finding and creating the environment Xiao Weng said. full of love george