I am considering starting a business--actually I have been thinking about it for some time. Yesterday, I wrote down these principles to follow when thinking about what my business will be.
- The product must be easy to sell. I'm a software developer, not a salesperson and I can't afford to hire one. The product must fill a need and the price should be commensurate with that need. Anything that is perceived as extra must be free.
- The product must be easy to support. That means high quality and simple to understand. I cannot afford to answer a bunch of questions all day.
- The company cannot require a large staff. Even when it's going, I want to support my customers with less than 10 employees. If I make the product easy to sell and support, then this should be easier.
- Every sale makes a profit.
- The product must offer natural reasons for repeat business (not planned obsolescence).
- A potential for large deals must exist, but the company cannot depend on them.
- Shareholders (which might just be me) are paid dividends.
- My only income is dividends from holding shares.
- There will be no options or shares granted to employees. Employees can participate in success through profit sharing (which must be generous). Employees may buy shares.
- There must exist a culture of fanatical customer care.