11 Business Rules You Should Know
A couple of weeks ago I came across an interesting post by my buddy Neil Patel. Neil is one of the most successful online marketers and entrepreneurs I know, so when he talks about business, I listen.
The post is called 11 Rules to Work By, and he basically shares some tips he learned along the way of building his online business. Here’s the first one:
Rule #1: Never fly solo
Google, Apple, Groupon, Zygna, and Microsoft are just a few of the examples of companies that are doing very well. Do you know what they all have in common? They were all founded by multiple co-founders.
If you want to get into the business world, do it with someone. Flying solo may sound great at first, but things can get tough if you don’t have a co-pilot. This way when you are unsure of what to do when things get tough you have someone you can consult.
The most important time to have a co-founder is when you first start your company. This is typically the time where cash is tight and you can’t afford to hire people even though there is a ton of work that needs to be done.
If you are one of those lucky few that already have a co-founder, good for you! If you don’t you should read this article, as it will help you find the perfect business partner.
Make sure to read the whole article, as the other 10 tips are quite valuable as well. If you think there’s a tip missing feel free to share it with a comment below.
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7 Responses to “11 Business Rules You Should Know”
I read the article, helpful .thanks
Sorry I’m new, this is the first I meet Neil Patel and really nice to meet him. Thanks for sharing his great article. I learn from him a lot. In the beginning, I say to myself “what business rules would do to blog” because I’m blogging. But when I apply them to my blog. They just fit so greatly.
I will probably be one of the only ones to disagree with this tip. I partnered up with someone I trusted and felt was very worthy of the venture. His experience and expertise were top notch. After 9 months in, I found that he could to wrap his head around the bigger picture of growing the business and I saw that the fire in him was gone. I had to take drastic measures to put together enough of an offer to make it worthwhile for him to bow out and allow me to take the business over solo without him. I was able to and I haven’t looked back. I understand my situation is not the norm, but for that reason I think it’s best to run the biz from the top yourself and either bring in investors or trustworthy knowledgable employees that are part of the brainstorm.
I usually have partners when I start up a business. I have great points and things that I know that he doesn’t know and he has that too. It’s good to collaborate with other people who are experts in fields that you are not.
I can vouch for the importance of having a partner, preferably somebody who compliments your own skills, to bounce ideas off and to help build a business from the ground up. Without that kind of support and assistance many businesses fail before they’re given a chance to thrive. Having someone share the successes encourages you to move forward too.
Yes, having a co founder becomes so much important at certain times. For example, when you don’t have money to get some of your business works done by others, your co founder can help you in that case. As you have already mentioned earlier in one of your recent posts, being a programmer or coder is good while starting a tech business on the web. So in case, if you are not a good programmer but your co founder is, then you can save a lot of money from being invested in technical tasks.
It’s true that two minds can work really better and in a more efficient way than one. That’s why many solo businessmen fail to succeed. Having someone onboard to work with,trust and share ideas is definitely much more productive. Thanks a lot for sharing such an idea!
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