Most of us encounter numerous challenges in management when starting a business. To become a successful enterprise, one must possess many outstanding qualities, and these traits are often rare in others. So, what excellent qualities should a competent and exceptional business have? Below, I’ve compiled some wise words from experienced entrepreneurs for reference, hoping to be helpful.

Throughout life, we pay for our understanding; at the same time, we are constantly monetizing our knowledge.



1. Clear Rewards and Penalties, Defined Mechanisms

In management, it's important to acknowledge that while I may not be the sole contributor, I definitely play a role. Business owners should not compete with employees for credit. It's crucial to focus on building a talent system that includes identification, promotion, and elimination processes. The owner’s role is to choose the right path, find the right people, and distribute resources appropriately.

2. Talent Selection and Company Structure

Most companies struggle with integrating new talent. It’s essential to select and cultivate talent carefully, ensuring effective hiring and retention from the start. Building a strong middle management is vital, as is paying attention to grassroots employees. Gaining the hearts of the people is key to success. There may not be a perfect structure, but there is certainly one that fits the company best. Many issues stem from structural problems; even minor adjustments can yield significant returns when the business model is established.

3. Simplifying Problems, Feeling with Heart

Those who can visualize abstract concepts and express them succinctly deserve admiration. I particularly respect those who can see the essence of a problem at a glance. An interesting observation is that as I communicate with higher-ups, many do not care about their "face" and can objectively consider others’ honest evaluations of them.

Knowing and doing are separated by a vast chasm. Everyone has different levels of understanding about profound statements regarding an issue; some may grasp only the surface meaning, while deeper insights require experience. Many things cannot be fully understood without personal experience, even if someone gives you the answer to avoid pitfalls. However, deeply reflecting on the essence of problems can clarify many issues.

4. Calm Reflection, Thoughtful Consideration

Most people lack the ability for deep thinking and viewing problems critically. We are conditioned by the fast-paced world not to think but to be pushed along by life. In this era, information is rapidly diminishing, and everything that happens must benefit me. While young, it’s important to gain experiences and insights. Most can adapt upward in society, but few can adapt downward. Only by maintaining a humble reverence for people and things can we go further.

5. Capability Evolution, Directional Positioning

If others in the same field have better resources, higher understanding, superior skills, broader thinking, and are more hardworking than you, you have no chance to compete with them. 

You need to find your reasonable ecological niche and develop your strongest abilities into another area of expertise; this is essential for an entrepreneur.

6. Founders Must Keep Thinking

Founders should maintain a vision for the future, clarify their core competitiveness, identify their ecological position, and work backward from the end to the beginning rather than the other way around. Then, they should identify their original driving force and break it down into specific plans by date. Finally, they should consider additional driving forces.

7. Approach Learning with an Open Mind

Recognize that there are things you do not know and maintain a sense of reverence while continuously learning from others. 

What you know may not be known by others, and they will respect you for it. By keeping a humble attitude, you can achieve breakthroughs at a higher level. Don’t be like those who see others succeeding and think, "I can do that too." Experienced individuals advise against this mindset, as it can limit you.

Don’t cling too tightly to the idea of perpetual growth; let your high points serve as a foundation for future endeavors. No one can remain in a constant state of ascent. Don’t let past successes blind you; avoid the pursuit of an endless "better than last year." If you’re fortunate enough to reach a peak, it’s due to both skill and favorable circumstances. Focus on earning money steadily.

8. Knowing People and Utilizing Their Strengths, Building Cohesion

As a company grows, a larger workforce can indicate declining profits. When organizational structure develops too quickly, and the capabilities of lower-level employees lag behind, the simplest solution is to replace them with more capable individuals. Another approach is for the owner to lead by example, fighting alongside the team. This builds camaraderie and strengthens the overall capabilities of the team. As time goes on, you’ll find that this friendship becomes purer, as I always prioritize character over mere business acumen.