Wednesday, June 04, 2008

How to start your company and get rich

The title might seem cocky, but it is the one used by Henri Kaufman and PPC to explain us the key factors of success to start a company. Henri Kaufman has hence funded multiple companies, and is an expert. You can watch the video in French, go here to see the points in French, and the transduction is below.

  1. three concepts:
    1. Understand when is the best timing to start your business, when you are ready for it
    2. Work very hard at the beginning, to give to the project the best chances to succeed
    3. Make other people work for you. This is important to be able to delegate.
  2. Dare! You should not let anything stop your ideas. Leave all the different problems aside. These problems and things that stop you to pursue your goal, you invented them. You should drop them.
  3. Push the accelerator. And the gas is both your ideas and the adrenaline. You gonna have a lot of adrenaline, because starting a business is a lot of risk, and risk creates adrenaline. This is a great thing and it will help you move forward.
  4. Accept the risk. Every business is risky, so accept it. However, make sure you have the adhesion of your relatives and close friends. They'll be here to support you during good & bad times.
  5. Try to start with a client. It is easier. But what is important it is the second client. When you can get a second client, that means you have succeeded.
  6. Set a deadline of success, and a maximum limit to your investment. Win or fail fast. Don't get stubborned, if you fail, image a new project. There is no use to keep on with a company that don't start up.
  7. Hide your stress: You will have a lot of stress because of the risk, expecting some sales that are not coming for example. But you need to hide him because you will meet with a lot of potential clients, investors, suppliers, and it is important to hide your stress from them. You need to show your confident, because people don't buy to losers. You need to have a winner face.
Conclusion: Burn your vessels. You need to look forward, accept the risk, and take action.  Also, starting your company is not a part time job. It is full-time.
Also, have faith, be confident.

Henri Kaufman says at the end of the video that it happens to fail, it happened to him. But he also said that when he failed, it was because he did not respect these key bullets.

I love this series of video explaining you 7 keys in 7 minutes, I think all the advices are great. Hope it will help people who are willing to start a business.
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  1. It's terrific Nic ! You made a good job.
    1000 thanks...
    We try to install subtitles in the video but it seems more difficult than PPC and me thought.


    See you some day in paris or Frisco


  2. You are welcome Henri. I really enjoy this series of video. I have already translated "how to right the winning resume".

    That will be my pleasure to meet with you while I'll be back to Paris.

    Can't wait to see the new episodes.