I think that any person out there who is starting a business or investing in a business wants to know how they can mitigate their risk to ensure the success of their company. This is a very complex question since every company is different.

However here are 3 key fundamentals that will make any business a success:

1. People – This is the biggest since the people running the company and /or team will transcend through the organization via brand, leadership, decisions, etc.  I have worked with entrepreneurs who quite frankly should go back to corporate America and will never have a prayer at being a successful entrepreneur because of who they are and the way they think.  These people are toxic for entrepreneurship and create a large percentage of failures in business.   Being a leader and entrepreneur takes a certain personality and some just wont make the cut.  The people who exude the needed characteristics to be in a successful business is what makes a company work or not.

2. Product – Most people who are starting a new business or product think what they have is the next best thing since sliced break.  Well, let me tell you something  – NO ONE LIKED sliced bread when it first came out.  This one really pisses me off because these types of people who think this way generally are also arrogant and lack objectivity and 99% of the time fail.  There is nothing wrong with being excited about your new idea, but be honest and real about it and you will go a lot further.

3. Simplicity and Doing It Right –This one is really the easiest way to make a business successful. Make whatever you are doing SIMPLE– simple like 3rd grade simple.  And that means ALL aspects of the company, not just one or two.  It’s way harder to make something simple, and take more time and thought.   Don’t half ass ANYTHING.  When you cut corners, things go wrong.  Spend the necessary time, and do what needs to be done right and do it properly.

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Most people are selfish. What is terrible is that most people care only about themselves, their own self-interest, and will walk all over anyone to get what they want. This is a travesty in a culture where our largest asset is human capital and EVERYTHING that we do in life has to do with relationships.

I suggest to not being the norm. Be part of the few percent of people who are not acting solely out of self-interest. Be different. Care for others better than you care for yourself, and watch your life turn into something spectacular.  Treat people the way that you would like to be treated.  For you will be remembered.