Business Startup Rules

Business Startup Rules

Principles to help you hit the ground running

Business Strategy Secrets: The Golden Rules of Business Startups.

At The Vasilco Law Group, P.C., we want you to succeed in your new business. In order to do so, follow as many of these simple rules as you can.

  1. Never start a business unless you have experience in the field and have done it before, either by yourself, or for someone else.
  2. Try to never use your own money to start a business. Always borrow, beg, and solicit investors to fund your business.
  3. Never start a business unless you know in advance specifically, and if possible personally, who your customers will be.
  4. Never start a business based on one, or a few, large customers or suppliers. Suppliers and Customers must each be numerous, from the outset. You must always be able to lose a few without going bankrupt.
  5. Never have a key employee or irreplaceable worker. Make them interchangeable and disposable. You must always be able to fire anyone at will without it damaging the company.
  6. Never start a business with your friends or relatives, and never have friends or relatives as customers.
  7. Never fail to know every detail of your business better than all the employees, advisors, and professionals. Be THE expert at every job. The president should always the best worker at every position.
  8. Automate everything possible.
  9. Computerize everything that can’t be automated
  10. Outsource everything that can’t be computerized and or automated.
  11. Systematize all that can’t be automated, computerized or outsourced. Try to McDonald-ize all aspects of your business.
  12. Never do anything which can be done without you.
  13. Never put things in different places that need to be used together. House and office, pens and desks, computers, printers. Put absolutely everything within reach of your un-stretched arms. Don’t ever have to get up for anything, except the bathroom.
  14. Never buy anything extravagant, always go with the lowest, cheapest, smallest, but keep it neat and clean, which is usually free.
  15. Never get an office or staff before getting customers.
  16. Never do anything without limited liability.
  17. Never have oral contracts. Have contracts with buyers, suppliers, staff and cub-contractors.
  18. Never do anything that is not clearly connected to imminent profit, like sponsoring teams, donating to charity. That can come later.
  19. Never break the law, or even bend it. Avoid even the appearance of impropriety.
  20. Never promote yourself in expensive ways. Be as cheap and direct as possible.
  21. Never cease or skimp on promoting yourself.
  22. Never forget you’re on stage. You are an actor while in business, in front of customers, suppliers, and staff. Be on your best behavior.
  23. Never forget to differentiate yourself from others, you must offer something unique, however mundane.
  24. Never fail to show up at everything related to your field.
  25. Never take the best, biggest, cleanest or most desirable thing in front of your employees. Always give them the best of everything, offices, seats, perks.
  26. Never give up part of the ownership of your company, unless it is totally unavoidable. Always keep all of the equity, or at least the voting equity.
  27. Never refuse an employee’s bona-fide family related request, like for time off, however much vacation or sick time they have used or earned.
  28. Never fail to produce timely, detailed accounting statements.
  29. Never say anything but good things about your own company and staff, however much you dislike them or are suffering.
  30. Always remember, it is more profitable to give a salary than take one.
  31. Remember that although you can spend yourself poor, you can never save yourself rich.
  32. Never break too many of the above rules!