Principles are timeless. They will always work as long as the sun and the moon are standing. So here's a list of some business principles you may want to bear in mind while doing business:
General
- Only produce what will always be in demand for human sustenance during your lifetime.
- Join the supply chain with something new, something improved, or a better substitute.
- Complete the idea development in your mind before you make it a tangible reality.
- Brood over each aspect of your development project and share with others to get more light.
- Bear in mind that you are both the creator and the created, the producer and the end-user.
- The goal of your creation should be to add value to yourself and to exchange value for value.
- There's no room for stagnancy so keep improving on your product to stay in business.
- Setup your business within a market place in your industry when you either have part of the equipment or skills or complimentary products required to offer a product or service to Users.
- At the start, get only what is directly associated to the product development and distribution. As your business starts generating income and making profit, you can now buy convenience.
- Keep your product simple and easy for your target users to appreciate and utilize regularly.
