Leaders Perception Magazine is currently running an interview series called – What Are The Top 5 Mistakes People Make When Starting A New Business?
Today, we had the opportunity to interview Willian Zhou who is a CEO at LED Ask.
Interviewee Name: Willian Zhou
Company: LED Ask
Willian Zhou’s favourite quote: Believing that a good idea is all you need:
The concept is merely the beginning. From start to finish, you must frame all aspects of your idea, including game-planning and contingency planning. You must lay a strong foundation upon which to build.
The Interview
Thank you so much for joining us today! Tell us a little bit about yourself. What is your backstory?
Willian Zhou : My name is Willian Zhou, CEO at LEDAsk.com.
As the CEO of LEDAsk.com, a leading online retailer for LED lighting products, I playe an integral role in growing the company’s customer base and revenue. Under my leadership, LEDAsk.com has expanded its product offerings to include a wider range of energy-efficient lighting solutions for both residential and commercial use.
In addition to his success at LEDAsk.com, I also highly active in the industry as a speaker and thought leader, sharing his expertise on sustainable lighting solutions at conferences and events around the world. I am a strong advocate for green building initiatives and regularly collaborates with architects and engineers on projects that incorporate eco-friendly lighting design.
In your opinion, what makes your company stand out? Any examples?
Willian Zhou : LedAsk is dedicated to providing honest, unbiased reviews of led knowledge written by electronics engineers and hobbyists. Our thoughts, tips, and how-to guides are based on thorough testing and personal experience, and we show you everything about the programs we recommend.
What are the TOP 5 mistakes people make when starting a new business? Please share advice/examples for all of them.
Willian Zhou : Believing that a good idea is all you need:
The concept is merely the beginning. From start to finish, you must frame all aspects of your idea, including game-planning and contingency planning. You must lay a strong foundation upon which to build.
Not having a good accountant and attorney:
Starting a business is challenging and extremely risky. There are laws that must be abided by, and tax laws are one of them. The IRS is serious business.
If you make the incorrect move or don’t submit the proper papers, you could get into some serious problems. You can avoid a catastrophic disaster by hiring a lawyer and an accountant who specialize in your particular line of business.
Spending too much money too soon:
Even though you may have the money, you shouldn’t always spend it all at once. You need to strike a balance between spending too much money before you determine exactly where your money should go and investing enough to ensure that your firm gets off the ground.
Start out slowly so you can receive input and observe outcomes. Prior to growing the company, reinvest profits. Many companies have self-destructed by attempting to expand too soon.
Trying to launch while doing other work:
The truth is that starting a business while also working another job makes it nearly hard to devote the necessary time to it.
To succeed, a business needs your undivided focus. While you are still employed by another company, you can create the plan and begin generating money in your spare time. You have to be prepared to give it your all once you’re ready to take the plunge.
Another person in charge of the situation:
You should take care of it. At least initially, you must not only be in charge of the daily operations but also actively participate in them.
You must decide what to do. You must be the one to choose the agendas, timetables, suppliers, and organizational structure. If you have a partner or partners, you must establish a distinct distribution of duties right once.
You must maintain a firm grip on the steering wheel with both hands and make sure that every aspect is taken into account. Be prepared to work continuously. In business, there is no such thing as overnight success, despite what the cliché might suggest.
Leaders Perception magaizne would like to thank Willian Zhou for the time dedicated to completing this interview and sharing their valuable insights with our readers!
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