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Establish what "trust" is. The play-by rule-book. My approach has mostly been to get out of the way of what I don't know and hold on whilst having blind trust
by simmo9000 5y ago
Establish what "trust" is. The play-by rule-book.
My approach has mostly been to get out of the way of what I don't know and hold on whilst having blind trust.
Like riding a horse, hold on and give direction of the course with balance of freedom to run. Give more freedom and get more trust and enjoy the exhilaration, however hold the reins too tight and you will be fighting all the way.
Walk the tightrope so to speak. Know if you give too much freedom it will buck you off and run for the hills, however, if you can maintain the balance of direction and trust, good things will come.
One go I had was a communications service provider in the naughties that went from zero to 20 mill revenue in one year and it did alright in the end, but with hindsight, I can see so many better ways that almost everything could have been handled.
In my opinion, the main problem that most businesses experience is TRUST. (On every level)
Without it there is no business. Business by definition is about more that one person so trust is imperative.
Is trust equally mutual within your business? Can you quantify that trust? Can other staff in the business? And the customers? The board? The shareholders?
If it is there with all parties than the world will be you oyster!
If not, well that is just business. (But you should mitigate it to take care of your own future)
Wicked growth makes the green eyes shine... Greed comes through the cracks everywhere. Not sure what can be done about this. Company Constitution? Culture?
These are just ramblings of a semi-serial pseudo-successful entrepreneur. I apologise. I don't know any answers but I do know that 'trust' is one of the crucial key elements of a successful business. Trust between every party.
Find the balance of trust between ALL steak-holders and get it ALL in writing. +2cents.
- simmo9000 5y agoAnd... More importantly understand what YOU want! Set your goals as to what will make you happy. Idle ideas like "I want a house and a happy family" become flexible and then you will chase that flexibility. Make sure that when you realise, truly, your goals of "business", only then, you will be happy, accept, and at that point, if you desire, set a new goal. ( I <3 , ) Do not shift YOUR goalpost of what you define that "Take Off" moment is. 9.. 8.. 7..
- dennis_jeeves 5y ago
- hardwaresofton 5y ago> Find the balance of trust between ALL steak-holders and get it ALL in writing. +2cents. Dunno if this was a joke on purpose but "stake-holders" is what you want there!
- dennis_jeeves1 5y ago>Establish what "trust" is. The play-by rule-book. Interesting you mention this, I have used the word integrity in my own ramblings (can be found via a link on my profile), to essentially imply the same aspect, and probably much more. More being things like predictability, personal motivations that go beyond money making etc. >These are just ramblings of a semi-serial pseudo-successful entrepreneur. I apologise. My views come from observations of business. I'm not an entrepreneur either (cannot afford to be one) >I don't know any answers but I do know that 'trust' is one of the crucial key elements of a successful business. Trust between every party. True, there are all sort of other elements that people are well aware of ( marketing, development, competition, planning etc.), but this one (trust/integrity) is an underrated one I think. All that I said hold less true for fly-by-night operators, or enterprises with short term goals.