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Most bosses today are busy and rarely seen. Some even try to control every internal and external matter. However, true entrepreneurs are actually quite 'idle' because they focus on three major tasks: financing, hiring, and drinking tea. Companies that die suddenly, regardless of size, often do so due to cash flow disruptions.
The first thing entrepreneurs should do is financing.
Nowadays, companies that die suddenly, regardless of size, often do so due to cash flow disruptions. So the first thing entrepreneurs should do is financing. Financing not only refers to preparing startup capital for the company's establishment, but also includes raising reserve funds for development, such as emergency funds, provisions for due accounts, and capital for strategic transformation. Financing channels include personal borrowing, bank loans, private equity, venture capital, issuing stocks and bonds, and attracting new strategic investors.
The ability to raise needed funds in a timely manner is key to testing an entrepreneur's skills. Therefore, entrepreneurs should focus their daily cultivation and socializing on these areas, forming their own circles. Perhaps playing golf is your best choice. Today's top entrepreneurs are all top-tier capital players.
The second thing entrepreneurs should do is hiring.
Hiring in a company is a broad concept, including nine aspects: identifying, understanding, selecting, organizing, developing, utilizing, motivating, retaining, and releasing talent.
- Identifying: Recognizing talent through various channels, with headhunters being an important one.
- Understanding: Knowing the strengths, weaknesses, and personal wishes of talent to have a clear picture.
- Selecting: Placing the right talent in the right positions to avoid mismatches and waste.
- Organizing: Building teams where complementary strengths create a 1+1>2 effect.
- Developing: Mainly addressing talent shortcomings and training employees' moral values.
- Utilizing: Mainly leveraging strengths, but sometimes using weaknesses for special purposes.
- Motivating: Inspiring talent to maximize value, including unlocking potential.
- Retaining: Keeping talent; first-class companies retain talent through culture, second-class through people, third-class through money. To truly retain talent, entrepreneurs must build a good corporate culture.
- Releasing: An art; not only should those unsuitable for the company be let go, but sometimes those suitable for development should also be released, allowing them to bring greater value after leaving.
The third major thing entrepreneurs should do is drinking tea.
Drinking tea refers to strategic planning: entrepreneurs must understand macro trends, grasp economic development directions, and formulate company development strategies. They must judge whether the company needs transformation or reform, and determine which fields to enter or abandon. Such planning cannot be decided on a whim; it requires long-term accumulation of relevant information, insight into the current situation, and deep understanding and grasp of the market to outline the company's future blueprint. A slight misstep in such decisions can lead to total failure, wasting years of effort. Therefore, entrepreneurs must devote themselves fully to this.
These three major tasks are equally important and are what entrepreneurs most need to do, but their emphasis varies at different stages of company development. Entrepreneurs should carefully weigh them according to the company's specific situation, maintaining balance and proceeding steadily. If entrepreneurs can do these three things well, they will basically have 'nothing to do,' and such companies will surely stand among the world's renowned enterprises.
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