11 Rules to Work By

Posted: October 04, 2012

[caption id="attachment_10860" align="alignright" width="480"] rules Image from quicksprout.com[/caption]If you're planning on starting a business, here are a few essential rules you should follow.

Rules are meant to be broken, right? Sure, you can break rules whenever you want, but just remember there are consequences.

Over the past 10 years I’ve broken a lot of rules, and each time I did it resulted in a negative consequence. In most cases the consequence didn’t occur immediately, however it did occur eventually.

If you want to be a daredevil, by all means, break rules. But if you want to create a thriving business, you should follow rules. And more importantly, you should follow these rules:

Rule #1: Never fly solo

Google, Apple, Groupon, Zygna, and Microsoft are just a few of the examples of companies that are doing very well. Do you know what they all have in common? They were all founded by multiple co-founders.

If you want to get into the business world, do it with someone. Flying solo may sound great at first, but things can get tough if you don’t have a co-pilot. This way when you are unsure of what to do when things get tough you have someone you can consult.

The most important time to have a co-founder is when you first start your company. This is typically the time where cash is tight and you can’t afford to hire people even though there is a ton of work that needs to be done.

If you are one of those lucky few that already have a co-founder, good for you! If you don’t you should read this article, as it will help you find the perfect business partner.

Rule #2: Have a clear sense of ownership

When you work with business partners and team members not only should you have a written contract on each person’s ownership, but more importantly you should clearly define what each person is responsible for.

See, the purpose of having business partners and employees is that everyone brings a different skill set to the table. With these unique skills, each person can do different tasks and start specializing so that your business can be more efficient.

Having an understanding of who is responsible for what in your organization will ensure that everyone knows who is doing what, what they expect to accomplish, and when everything will be done. This ensures that everyone in your company is on the same page and is sharing the same vision.

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Biz Tip from QuickSprout