Eaze CEO Jim Patterson — who is ex-Air Force and has a track record of hiring actual former chefs to PM (including one who would become COO of Clover Health) — swears by a list of ideal attributes for PMs that also dictate success in the military and kitchens. As a teaser, here’s the checklist he suggests: Being able to lead without authority. Always taking blame while giving credit away. Strong decision-making with imperfect information. Valuing intense preparation. While very few of the PMs you meet may actually be former chefs or soldiers, this list can serve as a rubric for hiring product managers who have the raw skills to succeed in the role. So, if you see ‘short order cook’ on a resume, maybe consider moving it to the top of the pile. Product is this tough job where no one truly works for you. The engineering team doesn’t report to you. They don’t really have to do what you say, but you have to be their leader anyway.

Mostly the budding entrepreneurs do two mistakes at the start: Most budding entrepreneurs do not have a funded business and also haven’t raised a venture capital. In terms of the money they have only six months and between that, they have to achieve their goal. While they are dreaming of every possible aspect which can assist them in order to attain the goal. Soon the realization hits them and they run out of cash. Secondly, there are a few who are well funded and they don’t make the necessary efforts to generate the revenue. They are so used to the ideas that losing a huge amount in burn rate is completely fine because they have a funded company. Such people focus more on raising their next round instead of actually making the profitable business. More information can be read at Entrepreneur tools.

Do not wait until you launch your business to get customers or consumers, because they are the central element that determines the success or failure of your initiative. Make as much networking as possible! Gather contacts! Offer samples with your product / service! It’s never too early to start marketing for your business. The main motivation for writing your business plan before you start is to save time and money later during the business development. In addition, the business plan helps you to clarify your business concept and gives you a general map based on which you will invest in growing your business. There is no need to make a detailed and fluffy business plan, focus on those essential elements of the plan that will help you throughout your business development. More information and tips on writing a business plan can be found in the How to write a business plan section.

It’s easy to get caught up in the day-to-day challenges of running a business, but you MUST carve out time at least once a week to take stock of what you’re doing for the long-term health of your business. That includes marketing, training, employee development, community engagement and capital development. Sound investments today will pay dividends in the future. – Jim Judy, Try Franchising Source: https://theentrepreneurresearch.com/.