LA 22: Induction of Entrepreneurial Element BI Triangle and Its Relationship with Human Graph (Part 2)

In the last article, the editor talked about the elements to be prepared in the early stage of the business. Now today I will talk about the remaining elements of the BI triangle and how it is related to the human graph.

After completing the three outermost conditions, the first thing to face is the funding problem, which is also the first hurdle faced by many entrepreneurs.

When rich dad was talking about the BI triangle, he reminded the author that the more elements on the periphery and the bottom of the BI triangle, the more important the elements are when starting a business and operating.

Therefore, the mission and purpose of entrepreneurship are more important than the funds needed for entrepreneurship, although funds are as important as blood to a business entity.

The author proposes to obtain start-up capital at different stages, such as:

1. Demonstrate the process of investing in the project to attract investors

2. Reduce recurring expenses

3. Add provisions to accelerate the return of funds to sales

4. Maintain a good bank credit record

In the process of obtaining funds, it is indispensable to connect with the "communication ability" at the next level.

In the story, rich dad once mentioned: "Poor people are often people who communicate poorly with others.", "How much money a person gets is directly proportional to how much communication he exports."

Therefore, he later added that starting a business does not necessarily require money. On the contrary, if a business entity has strong external communication and marketing capabilities, it can even have the effect of bringing back the dead.

Therefore, rich dad reminded the author to exercise and develop his ability to communicate with others.

The author later listed 8 links to improve communication skills:

1. Sales

2. Marketing system

3. Ad text writing

4. Negotiation skills

5. Public speaking

6. Email Marketing

7. Operation Lectures

8. Raising funds

The author said in the book that many entrepreneurs are very interested in the final fundraising, but he persuaded that it is best to do the first 1-7 links first, because the fundraising process needs to use the first 7 links. Skill.

After doing a good job in internal and external communication, it is the third layer of BI triangle - the system of business entities.

The responsibility of the leader of the business unit is to ensure the smooth operation of the system in the company and to detect and eliminate the loopholes in the system.

The author proposes that there may be care to:

1. Daily operation system

2. Product development system

3. Inventory system

4. Order process system

5. Customer Service System

6. Trading System

7. Marketing System

8. Human Resource System

9. Accounting system

10. Corporate Governance System

11. Local tenancy and security system

Then, there are legal issues.

The author argues that many people, including himself, ignore the importance of law to business.

Therefore, based on his own experience, he advises those who intend to start a business to pay attention to the following legal aspects:

1. Company Law

2. Contract Law

3. Commercial law (specifically related to customer protection provisions)

4. Intellectual property law (especially important for companies that focus on creative or product development)

5. Labour laws

6. Legislation on securities or bonds.

In the future, the editor will also share more information about the law with you. After all, the law is a relatively professional field, and some friends who start a business may be unfamiliar.

It's just that the editor was originally from British law, and can only talk about the principles and processing directions of British law, which may not be in line with the actual local situation shown in every article or video, just to give you more understanding. It does not constitute any legal advice, please pay attention.

Finally, and what rich dad thought was the least important thing in the whole BI triangle: the company's product/service

The author said that perhaps some ordinary investors will think that the company's product or service is the most important.

But the author takes McDonald's as an example, and believes that McDonald's is not the best hamburger store in the world, but it is strong in that it has the most sound system.

From the perspective of the entire BI triangle, the editor found that the success or failure of the elements at the bottom is actually more related to an entrepreneur's understanding of himself and people. Up to the last three layers, also It is systems, laws and products that have a relatively strong relationship with the education we receive in society.

Funding, on the surface, seems to be a very practical and material link, but it is actually closely related to communication and team leadership, and whether or not to communicate effectively internally and externally is also related to their own internal qualities. Fear, dare not speak in public, and some may ignore or not understand human psychology, resulting in misunderstanding or ineffective communication, and these intangible factors are more important than the knowledge learned in school. important.

In the story, rich dad once reminded the author that it would be a very dangerous thing to just copy the theory in the book into reality. He said that not many people can go all the way.

I guess one of the reasons is that many people do not do their own internal homework before starting a business, that is, self-understanding.

When a problem occurs when starting a business, it may be discovered that the problem is not from the external environment at all, but from the origin of oneself.

The editor currently feels that to do a more comprehensive and in-depth understanding of the origin of oneself, only the human figure, combined with the analysis of different angles such as horoscope and Western astrology, is more fully prepared for changing the trajectory of one's own destiny. Small The editor has benefited a lot from these tools, and therefore gave this gift to like-minded friends.

When the human map can be combined with other knowledge and skills learned in school, the editor believes that this will create a different life situation for you. The editor will also share the details of each level in BI triangle with you in the future. , you can follow the column of Life Architect.