Part 5/9:
Many entrepreneurs scramble to create a product before they’ve validated market interest. A business truly begins when a product is sold to a customer. If you focus first on generating profit, you can reinvest that revenue into scaling your business, hiring talent, and solving challenges. Shift your focus from just top-line revenue to bottom-line profitability to maintain sustainable growth.
Law 5: Teach, Don't Tell
Transformational leadership is vital in fostering a self-sufficient team. Instead of telling your employees what to do, equip them with principles that empower them to make decisions on their own. This approach minimizes bottlenecks and fosters a proactive problem-solving culture.