Stepping into the self employed fraction or what most would address as the entrepreneur zone is not an easy feat. The prospect of becoming your own boss, finding and recruiting invaluable talents, creating your own project, and constantly making a lefty income working in the comfort of your own home has led to many jumping impatiently onto the entrepreneurship bandwagon.
Image from: Guillaume
However, the other side of the pasture is not always greener. Inexperience, lack of talent or poor management has slowly drained your passion and dragged you into turmoil. Creative juices are not flowing and you are reaching out for a lifeline.
It takes ten years or more of prosperity to make a company; but it takes only ten seconds of poverty to destroy it.
There are some important characteristics that are needed for your start-up company to succeed, and I wish to share it here.
The six strategies that I will be sharing in coming months are:
- The Civil Strategy
- The Business Strategy
- The Leadership Strategy
- The Operation Strategy
- The Flexible Strategy and lastly
- The Secret Strategy
These strategies are essential for administrators, leaders and entrepreneurs. It covers critical areas in management which includes how to recruit talent, manage your own company and more.
The earliest development of the six strategies is from an ancient military book, titled Liu Tao (六韬), or Six Strategies for War. It is originally attributed to Jiang Shang, the brilliant strategist. I will be releasing each of the strategies one at a time.
For now, please enjoy – The Civil Strategy – The art of recruiting talent and internal management.
Episode 1: The Civil Strategy
Before you can start your own web company, you must be clear of your objectives, focus, and direction. Understand that Rome is not built in a day and your leap of faith into venturing your own business will be tested by constant obstacles.
Recruiting Talents as Partners
Fortunately, you need not experience this alone. In order to have better success, you need to make use of others’ expertise to grow your web business. Most web businesses are not built alone. In order to form your dream team of partners, you must master the art of recruiting talent and internal management. In this strategy we will discuss the recruiting of correct talent and internal management.
Image from: iesphotography
There are a few reasons why being a single founder is tougher and will easily succumb to failure. There will bound to be many difficult decisions and it might be tough to decide without another person’s opinion or banding together to call the shots. With a single founder, there would not be enough diversity in generating ideas and problem-solving processes. Look at big companies like Google and Apple, they have a wonderful pool of talented people around, and are still constantly recruiting new talents.
Furthermore, with a partner, you can motivate each other to keep things going and see things from different perspectives. But there is the other extreme, and it is when too many cooks spoil the broth. This runs into the problem of things being debated or argued constantly, causing critical decisions to be delayed.
There is nothing more powerful than like-minded partners. When NASA wanted to send the first man on the moon, every single NASA staff shared a common dream – to help send the first man to moon from earth. Even the toilet janitor, shared the same aspiration.
To determine the correct person to join your web venture, first you have to determine their aspirations. A worthy partner and a mere partner are equally busy; but because of different aspirations, their gains will also be different.
Respect Your Partners and Control Your Desire
After you have recruited the suitable talents, maybe a designer or developer, you must control your desire for power. A partner or company chief executive who cannot relate well with those around him and cares only about his personal desires is unlikely to stay successful for long. You have to control your personal desires and respect others in order to achieve great cooperation.
Image from: iesphotography
Rewards, Recognition and Penalty
Next, when it comes to rewards and penalty, one has to be fair. Giving due reward or penalty is an important part of the art of leadership. As times change, however, one ought to be flexible in deciding the type of reward or penalty to be meted out. Give a lighter penalty when it is difficult to decide what penalty is due and give a greater reward when it is difficult to decide what reward is due. If a project design is well received by your client, give more credit to your designer and praise him or her. And when a project messes up, do not be the first to push the blame but help to shoulder the responsibility.
Foster Good Working Relationship
No one likes to be bossed around. In terms of relationship, you must foster good relationships with your partner, superior and subordinate. A superior treats his subordinates with kindheartedness and in return, the subordinates will sincerely respect their superior. This traditional Chinese ethical value is still relevant in some companies today.
Happiness is the Health of Your Company
A group of happy people is a requisite for company prosperity. When the people are angry or unhappy in a company, they are unnameable to the precepts of ethics. Without moral values, social cohesion is impossible and the loss of support of your team will spell the downfall of your company.
Humbleness is the Key
Humbleness can get you very far no matter where you go. It’s a great attribute that is useful to cultivate. But be careful not to overly do it, as it might be perceived as fake. Always be ready to listen humbly to the criticisms of your partner and make timely corrections.
Image from: Arendfoto
Be Willingly to Delicate Responsibility
Always give food for thought to people with high aspirations. These days, many young people are used to a life of plenty and enjoyment from an early age. In such an environment, it is difficult to nurture outstanding talent. In adversity, the survival of the weak is constantly being threatened. Be willingly to delegate your responsibility to your partner and watch them perform. Those who have the courage to accept challenges and give full play to their potential may turn out to be a valuable ally.
Meritocracy is the Way to Prolonged Prosperity
A wise leader would employ people judiciously and give key position to worthy and honest partners, thus making the company strong. Know your partners’ strength and not just allow mediocre people to hold key positions based on friendship or connection.
Take Less and Give More to The Company
Any one will desire that the company give more and take less from them. Invest more time, trust or money into your company and take less from it in order to build up the relationship.
United We Stand, Divided We Fall
Unified command and unified action are prerequisites for company success. A team without unified command and esprit de corps is doomed to failure. The same ingredient is also vital for the success of any organization.
Image from: kinjotx
Be Expectant of Adversity
A person is bound to have one form of worry or another. Nothing in the world remains unchanged. Success and failure, good times and bad times, conflicts and harmony, are all part and parcel in a company journey towards success. Knowing this, if you still does not anticipate disasters and prepares for them, a good time will soon be gone.