Posted on 21-09-2007
Filed Under (Business, Entrepreneurship) by dotWdot

I love business, I always have done - since I was a kid I have looked up to my dad and revelled in every aspect of business information I can find. By studying it (both in and out of school), and practicing it I feed my business monster as often as possible. I enjoy seeing how other firms operate and reading business related news.

But the thing I love most about business is the fact it allows progression. - The proportion of people starting business’s against that of people working for businesses is distinct. A lot of people just work. This is great and has clear benifits over business ownership. But if you look at the scales (which I always have done) you don’t see that many millionaire workers.

It is a risk issue again, I could without doubt get a job that pays say £40k a year with ‘prospects’ - this would provide a stable happy life. Or I could put everything I do have into a business idea (chosen carefully) and take a shot at the big money. With risk comes pitfalls - long hours, tight cash flow and loneliness can all be negatives on the same scale, but only if you let them!

All through the years I have had the discussion with many people - whether you are born an entrepreneur or whether you can acquire the skill. I now don’t think you are born definitively as anything - but your life does shape you. Either way I chose to be an entrepreneur and love it. I absolutely revel in challenges and am at my most content when trying to think of a way of doing something that is infinitely different and original - Combine this euphoric planning and outrageous development with the fact that any rewards for success will be yours alone and it is an addictive role.

I now am writing my story as an entrepreneur in line with the development of my latest business. I hope to provide some interesting reading of  along with progressive accounts of trading online from 2007 onwards. I act as the developer, search engine optimiser and promoter as well as managing director so my posts will be a mixed bag.

Points marked with numbers will define my basic business principles!

1. Attention and Enthusiasm - It is incredibly easy to start a business - everyone around you is saying its a good idea, its a bit rebellious so you like the sound of it - but the key is in the phrase ‘it is incredibly easy to START a business’ - its the development, management and leadership that are a challenge. When you start up a company the figures that interest you are the ‘only 20% of business’s last the first year’ - this figure is I would assume fairly accurate.

The key really is to practice your objectivity - when you first have the idea, whatever it is - it will sound great, it will be an amazing idea, it will be the one that will make you millions. And it just might be. But before signing up for a big loan and getting a new BMW you have to stand back and decide on whether you would put your self in that top 20% that make it. Check, check and triple check your idea and if its good - write a good business plan then go for it.

But whatever you do - Do not assume it will be easy. “Hope for the best - Plan for the WORST“. Too many great ideas are wasted due to bad planning or by individuals that just don’t think before they act. - Your attention, your Enthusiasm are what will keep a company going through the coldest of winters. Attitude is the most important aspect to business (after sheer figures.) So before you start ANYthing - make sure you are ready and have the write attitude to keep the attention and enthusiasm up well after the other 80% fail. And if you need a help with ingenuity come to me!

Remember kids - a good business is for life - not just for christmas!!

 

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