We are really excited about the state of the investment market, economy, and retail market because it has forced us to change. It has been an unexpected change, but we have made more new contacts and uncovered more new markets in the last 24 hrs than we have in the last 9 months.
In the last 2 days, we have re-hauled our business model, focused on a B2B vs B2C route, developed a new product name, started work on product changes and a new website, confirmed final legal review of our first client, and started to make connections in a multi-million dollar market we didn’t anticpate. What, we can’t say, but we will be up and running with our first client by January.
So because of these developments, I thought this post could be very short and sweet. The commandments and advice I’ve learned from all my technology friends and advisors who have founded or are running a company. I can’t remember every where i have gotten this advice, but I don’t take credit for any of it. My only hope is to share it with the world and pay it forward to other CEOs and founders.
We are in a tough economy, but these commandments are relevant in any economy.
- Have absolute conviction in your business. You will not make it through any other way.
- Never be unwilling to stop doing anything in your business. You must be open to changing or stopping anything that is not working.
- Be 100% committed and confident in what you are doing and the minute you change the plan or direction be 100% committed and confident in what you are doing.
- Always be raising money even if you don’t need it. It makes it much easier to get it when you do.
- If you are behind with vendors call them and work out a payment plan. Remember you are probably one of many and if you are making payments you are off their radar.
- It’s not what you think your product is for, it’s what your customers use it for.
- You will never regret firing someone to soon.
- Remember selling your vision to your staff is as important as selling your vision to investors and competitors
- Pay sales people off gross margin, never revenue.
- Follow the money, don’t make it follow you - it won’t.
Those are some good, sensible and time-proven commandments you have there. Thanks.