There are a lot of things we can learn from Hausboom and Syed Saddiq story. If you follow these 5 rules when doing business, we as a founder can avoid the frustration that can lead to making a mistake decision which can affect the company reputation or almost into destruction.
Rule no 1: Don’t mix politic with business and never explicitly tell to the public who are you supporting.
Politic and business is not totally the same thing. It can eliminate some of your target markets. Why? When you are freely expressing your political views together with a business perspective, automatically some of your customer bases will be gone.
Yes, we have freedom of speech talking on social media such as Facebook and Twitter but this is not a smart move. The smart thing to do is keep quiet. Never destroy your customer base because of political views that really not give a positive impact on your business on future even its a real problem.
Rule no 2: Set realistic expectation.
As a business founder, set a realistic expectation so we can face the outcome circumstances. Get clear on your values when you invest something big. Let say if you want to market your product through digital marketing. Maybe you can hire digital agencies for consultation, spend some money on FB ads, find existing instafamous or influencers with huge followers.
Digital agencies may help you out to identify the values. Or what is your expectation if the influencers agreed to promote your product. What are the impacts to your business when the deals turn to sour? Also, need to think about their expectation. Is it their objective is bigger than you, or yours more bigger than them.
Evaluate your expectation. Has it ever worked out? Quiet your fear when it turns sour. Unrealistic expectations are born from fear. Prepare for the worst case, face it and move on. Trains the mind to accept openness and calm rather than making silly decisions and expectations from a fearful event.
Explore your not-enough story. Unrealistic expectations stem from the core belief that we are not enough as we are. Also, identify the most realistic takeaway. Ask yourself, “If this could go well (with several things not working the way I want it to), how would that feel for me?”.
Rule no 3: Don’t burn the bridge.
One rules I have in the business is to never burn the bridges. You going to get screwed over by people, that’s okay. If you are in business and you expect everything’s is all amazing, great, everything is just flowering all the time, colored rainbows, it’s not going to happen.
You are going to screw over. But when you got screwed over, don’t burn the bridge. Instead, try to solve the situation with a solution or an agreement that works for both parties. If they are not willing to, that’s okay. Don’t badmouth them, don’t leave bad reviews.
You may end up telling your friends how you got ripped off or whatever it may be and sure you may have to let off some steam here and there, but don’t publicly humiliate them, ruin their reputation or anything like that. Reaping what one sows. It may not always work that way but that’s okay.
Life is too short to burn the bridges and try to screw other people over. Forgive and forget. Let it go.
Rule no 4: NEVER EVER do bad PR stunt.
Use bad marketing option is one of the biggest marketing mistakes. Viral marketing can boost up your sales but with bad publicity can ruin your company reputation. Worst viral marketing also can alienate some or half of your customer base. Some say bad PR stunt is one of growth hacking 10x. I’m not sure about that.
Rule no 5: Have the right attitude.
Develop the right attitude for entrepreneurship. Even with knowledge, skill, and talent, a bad attitude can destroy your business because the competitors may have the same traits or level with you. The key to beating the competition and achieving success is mental, reflected in one’s attitude, totally controlled by the individual.
One of the business pieces of advice, stay humble and keep your ego in check. You know that voice inside of yourself that tells you that you are okay and if someone says something to you that you don’t particularly like, it seems to flare up and defend you even your incompetencies.
You see ego is a good thing sometimes. However, most of the time its not. It gets in the way of us growing and causes us to stay the way we are. People do mistakes. But some people don’t want to admit that they made a mistake. Keep in mind mistakes are not mistakes. Mistakes are feedback and feedback is a useful tool in order for us to continue to learn to grow and to become who we are going to become.
If your ego is getting in the way in business, work on it. The ego is something that has to be tamed and there is only one way to tame. It is for you to tame your own ego. Ego is more than just somebody who is conceited, somebody who like themselves, that’s not ego. That can be translated to look like ego. But ego is when we are completely out of control of our own reality and we see it is a perverted example of what reality is.
Besides that, encourage and accept criticism graciously. Admit your mistakes. You need to constantly work on convincing your team that it’s okay even necessary to state their honest opinions.