Some advice on the road to success

I like the advice of Tan Thiam Hock, an entreprenuer who writes on the star "On your own".

I particularly like this latest article from him titled above. Some of the excerpts :

Know your own limitations. Strengths. Weaknesses. Tolerence tests for suffering, humiliations, stress and financial deficits.

Once you know about yourself, set realistic and acheivable targets. Play to your strengths, be the biggest fish in a small pond.

Be happy with little successes.

All entreprenuers makes mistakes. A successful entreprenuer don't make fatal mistakes. They just make more right moves than the wrong ones. Just make sure the sum of positives exceed the negatives and you are on your way to a health balance sheet.

Whether your business is big or small, when your are faced with somewhat insurmountable problemsm, you will feel really lonely sitting on top of your own little hill. Learn to embrace solitude. Take this opportunity to learn where you have gone wrong. Take responsibility and do not blame others. Eat the humble pie if you have to. Take a step backward so that you can move two steps forward.

Unless you have a bottomless pit of reserves, over leveraging for expansion can be fatal if the new projects does not stop bleeding. Expand, consolidate, stengthen your cash flow, then expand again.