KNOW WHEN TO STEP DOWN AS CEO : A great entrepreneur knows when the time has come to leave the CEO role. It’s seldom easy, but it has to be done; very few entrepreneurs make great managers.
HIRE THE PEOPLE YOU NEED, NOT THE PEOPLE YOU LIKE : As tempting as it may be to staff your new business with friends and relatives, this is likely to be a serious mistake. If they don’t work out, asking them to leave will be very tough.
BE REALISTIC ABOUT COSTS : Don’t short change your start-up when estimating the funds you will require - you’ll just diminish your chances of success. Keeping your expenses under control is vital, but don’t confuse capitalization with costs.
STAY ON TARGET: A mistake often associated with the first step is signaled by entrepreneur’s inability to clearly and concisely communicate their idea. You have to be able to generate buy-in from investors, partners and potential employees, so nail down your ‘elevator speech’.
BE VISIBLE : A good leader doesn’t get stuck behind a desk. A good leader should constantly out and about, meeting people. Keeping it proactive, responsive and friendly.
As a leader you’ve also got to be extremely good at lavishing praise .
Never openly criticize people ; never lose your temper , and always be quick to applaud a job well done . People flourish on praise.
LEAD BY LISTENING : To be a good leader you have to be a great listener. Sure, you need to know your own mind, but there’s no point in imposing your views on others without some debate and a degree of consensus. No one has a monopoly on good ideas or advice.
Most developers aren't traders or understand mechanics of market like traders. If you're running a script or proprietary indicator and don't understand the math/mechanics behind it, you're flying without wings. Even red bull- daredevils, got wings.
PRIDE OF ASSOCIATION WORKS WONDERS : Business are nothing more than a group of people , and they are by far and away your biggest assets. Infact in probably the majority of businesses your people are your product.
BE INNOVATIVE : Create something different whether you have a product, a service or a brand, it is not easy to start a company and to survive and thrive in the modern world.
IF YOU DON’T ENJOY IT DON’T DO IT : Starting a business takes huge amount of work and time so you had to enjoy doing it. business is all about doing something to be proud of, bringing people together and creating something that’s going to make a real difference to People’s lives.