5 Essentials for Building Up a Business

By Florence Pham

If you have an idea to create a business, keep going and make it a reality. Don’t be afraid of working to develop it from the ground up.

Jack Ma, the co-founder and former executive chairman of Alibaba Group, Taobao Group, Tmall Group, and Alipay, used to say: “I saw a lot of people, young people with fantastic ideas every evening. But in the morning they go to the same office, again and again”. Due to this, people experience failure at work. They become frustrated and they struggle to discover their purpose in life after decades of studying.

1. “Your best asset is your youth.”

Don’t waste your time, your health, your knowledge and your money on doing easy tasks, stay in a place that you don’t like, or even play a role that you know you can’t perform perfectly as an actor or actress. Try to experience jobs that challenge you - that require more difficulty, more brainstorming, and the application of life skills, including hard and soft skills.

2. Train and develop consistent effort, mindfulness, and concentration in the right way.

There are several reasons why we should develop grit and perseverance as children. To build up solid wooden houses, wooden pillars that cannot survive in fertile, lush lands, like fields, are needed. The wood used to make these pillars sprouts in mountains, misty lands, dry and barren soil, and sandy gravel, yet it still grows and can be shaped into solid wooden pillars. In light of this, we need to develop our mindsets, our bodies, and our spirits to become the wooden solid pillars of our world, the roof of a building. Use this effort and grit to prepare yourself. It‘s not an easy mission but this can build up your fortitude gradually to help you survive through harsh storms and times of failure.

3. Keep going. Move forward.

Go ahead with your plan and revise it when necessary. “Well-arranged time is the surest mark of a well-arranged mind”, said Issac Pitman. You need to make a business plan first. Without a plan, you will likely feel disorganized and unprepared. Make a plan and make a timeline for your plan. To do this, create an outline for your plan, then day by day, fill it up with creative ideas about products, finances, strategies, and so on. You’ve already reached 30% of the way to build up your business. Research markets, analyze survey data, and get suggestions from the people who have experience about your field.

4. What do Warren Buffet, Jack Ma, Elon Musk, Mark Zuckerberg, Steven Jobs all have in common?

They are optimistic about the future. Think to yourself: How can you develop a more optimistic mindset while also being realistic?.

5. When you start your business journey, your business must solve a problem for customer - not just complain about the problem. If you can bring happiness and success to your customers, your business will reap happiness and success as well.

Observe, consider, adjust, and focus on building up a project that reflects your dream(s) - and how this addresses the customer. You will hit the jackpot.