Sometimes, better than reading specialized books of management or finances it matters to listen to the timeless voice of our ancestors. Popular sayings that can help entrepreneurs handed down from generation to generation, have teachings that can help with business decisions in modern times.
The free comparative financial product platform ComparaJa.com has compiled 5 popular sayings that will help you become a better entrepreneur. If "haste is an enemy," it is also true that "need sharpens ingenuity." How does this apply to business decisions? Let's find out.
" Let the rings remain the fingers"
Everyone knows this popular saying. Basically, it means the following: When someone loses something of value he must always know that what is left is his innate capacity. As we all know, business is made of ups and downs. Mainly for startups ( 9 out of 10 are unsuccessful ), the market is not made of "sunny days and rainbows".
However, as this proverb tells us, even after failure nothing is lost. Or as Thomas Edison himself said: "I did not fail. I just found 1000 ways that do not work. " So, even after failure, there is nothing to prevent it - after a period of reflection - from trying again.
" Haste is the enemy of perfection"
No business is successful without planning. However, there are still some entrepreneurs who do not follow the popular saying "haste is the enemy of perfection". If you want to be among the 10 (out of 100) companies that survive, it's important not to build the house by the roof. Make a business plan, a market study, know where and how you will get the financing and then get to work.
" The need sharpens the ingenuity"
If on the one hand we have already seen that haste is the enemy of perfection, it is no less true that in times of tightness one must have dexterity and insight. It is part of being an entrepreneur to know how to turn things around and to guide the company to safe haven even in the worst storms.
You need to know how to adapt the strategy when the previous one is not working and always know what new customer needs when they seem to be "running away".
" Cheap is expensive"
Sometimes there are opportunities that look good in terms of price-quality, but in which "the amendment is worse than the sonnet". Everyone knows that in the business world, sometimes buying cheaper products means buying lower quality products which then represent increased costs in the future.
But not only: in the past there were entrepreneurs who asked for low-interest credit, but whose payments have been accumulating so that they can barely make ends meet. Once again it's the cheap to get expensive. The alternative to default (which is not a good option for any company) is to apply for a consolidated loan. In this way, you can reduce the installments of your credit without ceasing to pay the bank.
" Knowledge takes no place"
The market is not a static place. It is constantly changing, the tastes of consumers change and investment opportunities arise and die. Therefore, all the knowledge that the entrepreneur can accumulate is welcome. If information is power, it is also it that makes the difference between success ... and just one more try.