Do we have a 5-year plan? Johnson is a big believer in companies writing down a long-term plan. But the key point is: it shouldn’t be long. It should be as simple as three to five paragraphs briefly describing the biggest, macro goals the company wants to make sure it’s pursuing over the next five years or so. When making product decisions, you want people to reference the plan — ‘Is this new idea or feature serving our overarching objectives?’ Or ‘should we launch this thing even if it doesn’t serve any of our 5-year objectives?’ Do we have a way to measure the employee experience? Stripe, for instance, surveys its workforce every six months. For Johnson, the most important question on the survey measures: “Do I feel a direct relationship between the work that I do every day and the success of the company?” Look at the data you collect and try to diagnose any problems you see. Are we decentralizing decisionmaking? To make sure you are, Johnson prescribes the same method used by medical residency programs: See one, do one, teach one.

Looking at the history of startups, it is often clear that most businesses will fail within the first 18 months. The reason behind the same is that people don’t know how hard it is to become a successful entrepreneur. No one can promise that your business will definitely bloom, but with these considerations, your journey will become smooth towards the success. More info can be seen at Online marketing tips.

Build a good team. Yes, you must be the brain of all activities and decisions, but your team matters too. Without it, the work cannot be completed, and the desired success will be delayed. So make sure you have professional people around you who are doing well in their field and who can help give your company added value. Once you have the team, start with the beginning! Focus on the image. What you do, your actions matter most. Thus, you take care of the image that you post, because in the end you represent your company and you are solely responsible for it. But do not try to look like someone who you are not, because you will seem fake and you will not inspire confidence. On the contrary, choose to be yourself, honest and open and people will appreciate this. Perhaps the least interesting activity of an entrepreneur is the one regarding the legal and tax aspects, but these are essential both for the success of the business and for the peace of the entrepreneur. In addition, it is much more difficult and costly to try to repair such mistakes later, so together with your consultant or your accountant and notices are needed, which is the tax regime, etc.

Take any opportunity to network and learn from more experienced executives, as well as to be mentored and coached by some of them. Further, exposure to specific meetings, boardroom discussion, and strategic planning would be utterly beneficial. – Izabela Lundberg, Legacy Leaders Institute Source: https://theentrepreneurresearch.com/.