There are two ways to increase your personal equity. Earn more or spend less. Sometimes the easier of the two to control is to spend less. Usually your spending decisions can be analyzed and cuts can be made.
However, some people build equity by earning more, and one of this quickest ways to do this is to start a new business. Keep in mind though, only the top 10% of entrepreneurs make more than those working for others.
But if you do still want to jump out there with a great idea and start a new business, here are 10 secrets of breakthrough companies by INC.com.
- Sexy businesses don't always win.
- The company is more important than the entrepreneur.
- Entrepreneurs don't always take risks.
- Founders don't need to let go - they need to refine their roles.
- Be prepared to change as you go along.
- You don't need other people's money.
- Its not all about hiring the right people - make the people already in the company more productive.
- Your school doesn't matter.
- MBA's are optional.
- Strategy is the job of everyone, not just the CEO.
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