Business

Entrepreneur: Ten Steps To Get You Into The Right Shape To Run Your Own Business

When you (as a Hong Kong expatriate) have become your own boss (i.e. entrepreneur) by setting up your new business, you should follow a few steps for success. You main goal would be to have a vision about your business, and you would find ways to grow your business (to achieve financial stability).

The 10 Steps

  1. Have a routine. This is all about time management. At the end of the day, you would have managed to squeeze out much spare time for completing a few important tasks.
  2. Establish and maintain clear boundaries. You need to have a vision of exactly what your company will do. So all other projects are deemed unrelated to your end goal, and should be avoid at all cost. You would have saved a lot of time this way, and your daily energy would be spent on the things that matter most.
  3. Access to people you respect. Get to know people along the way. You may not know when you will be able to partner with someone, or you may not know when you may need some specific help from some individuals.
  4. Have high standards and expect them in others. This is not easy. First you need discipline on yourself, and then you need very special charm or leadership to get people to follow you.
  5. Be punctual at all times. This is not only going to save you time day in day out, but this is going to build trust among people working with you as employees, business partners, or clients.
  6. Read a lot. Certainly you may not even have spare time to read, but you can do your best.
  7. Incorporate your business into a company, if you are going to have business partners as shareholders of the business, or going to get investment/funding from angel investors sooner or later. A Hong Kong company registry is simple and cost efficient when you go through the registration process online with a reputable platform.
  8. Sleep well and eat healthily. You are the soul of your own business, so the best method is to take good care of your health by sleeping well and eating with good balance.
  9. Ask for help when you need it. As you have been growing the base of your connections (or network of people), you would start to know who you should speak with for a specific problem you are facing. Contact the person when you need help.
  10. Always express gratitude. Remember when you need to return the favor.

 

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