Understand the people who work with you

As an entrepreneur, you take the full responsibility of any business decisions and the consequent outcomes. Also, for any failure, no matter big or small, you are the person to blame. Unfair? Not if you don’t understand the people who work with you. So, what do you need to know about them then? Here are my opinions:

1. You want a profitable and scalable business. Do you know what do they want apart from the salary?
2. You expect them to deliver. But, do you know if they’ve been experiencing problems? Also, do they tell you the problems in detail?
3. You think you put them onto the most suitable tasks. Have you asked them what they think?
4. Do you know if they are 100% confident with your business model and roadmap?

Pay serious attention to your financial reports

What is a business? My definition is the accumulated outcomes from the products or services you are offering. So, you will always be looking for new and more valuable ways to organize your available resources. But, how do you know if the new method work? I don’t know the answer, but your financial reports (Cash Flow Account, Balance Sheet) do. Therefore, the paperwork deserve your regular review with respects.