Survival Kit for Entrepreneurs

This is what I'm learning in the EID's Business plan and Technopreneurship. Pls tell me if it's useful for you (or spare some profit if it helps). :)

Survival rules

• Understand market needs
• Know the competitors
• Establish a vision
• Always be opportunistic
• Able to think and act ahead of others
• Able to take initiative
• Have the know-how in sourcing fund
• Understand the story behind figures in financial statements
• Have good communication skills
• Have marketing skills

Habits

• Integrity
• Diligent to do everything
• Never stop reading and learning
• Keen in networking with people
• Sensitive to detect the changes in the environments
• Analyse the feasibility before carry a plan
• Learn from other successful or failed models
• Creative

Do

• Plan and make budget prior to doing anything
• Make use of tools aiding decision making
• Invest on items that will generate high returns, e.g. money, knowledge, technology, people
• Taking advantage on assistance available, such as from the government, etc
• Take care of mutual interests of parties involved
• Exceed customers’ expectation
• Look beyond local market, go global
• Protect own innovation by applying patent
• Noblesse oblige

Don’t

• Cheat
• Steal
• Rob
  
• Be selfish
• Ignore customers’ voice
• Refuse any advice from people