Showing posts with label top tips for entrepreneurs. Show all posts
Showing posts with label top tips for entrepreneurs. Show all posts

Thursday, 20 November 2014

Think Running A Business Is Tough ? Imagine Losing Your Eyesight Whilst Setting Up Your First Company ....



I attended the Southampton Business Show yesterday - and what an inspiring (and informative) day it was.  I managed to get along to 8 of the 10 talks ... and had the pleasure of hearing inspirational entrepreneur Liz Jackson MBE share her extraordinary story from start-up to appearing on Channel 4's 'Secret Millionaire'.  She lost her eyesight whilst setting up her first company, Great Guns Marketing, but did not lose her vision to become a success in business and to make a difference.  

She said that "achieving big dreams means stepping outside the comfort zone, doing things you haven't done before, to get results you haven't got before !

She also said it is important to start every day with your glass half full.  She starts every single morning by thanking God for all the wonderful things she has in her life.  

And her three top tips for entrepreneurs were : 

DON'T RELY ON LUCK - there is no such thing !  Concentrate on what you can do and what you have - not on what you can't do and don't have.

GRAB OPPORTUNITIES - and don't let go.  Don't quit.  Learn from your mistakes and grow. Sometimes it will be painful, it is not for the faint hearted. 

DON'T BE A 'NEARLY' PERSON - and she told a story of a man at a networking meeting who said to her "me & the wife nearly bought a boat last year and sailed around the world".  "But" she said "he didn't.  He didn't buy a boat. He didn't sail around the world. And one year later he's still telling people about something he DIDN'T do" ! 

Make sure you start every day with a glass half full, and make today a great day ...


Wednesday, 3 September 2014

Business Tips From A Once Homeless Billionaire ...


John Paul Dejoria, co-founder of John Paul Mitchell and Patron Tequila, is living the American Dream. In this short 2-minute video, he talks about the business ethos that fueled his meteoric rise to the top ...



Friday, 25 July 2014

Living The Dream: The Realities Of Starting A Business

Huddle co-founder Alastair Mitchell shares the five business maxims that made the difference in his start-up story ... 

Having set up Huddle back in 2006 with Andy McLoughlin, I’m all too aware of the trials and tribulations of turning your dream into a reality. And believe me, in the first few years, it involves working long hours, a terrible diet (pizza is the staple of entrepreneurs nationwide!) and almost constant feelings of uncertainty. But, for every down there are numerous ups and life as an entrepreneur sends you on an incredible journey.
You can go from feeling like Richard Branson one minute to Del Boy the next. Huddle has now grown from a two-person bedroom start-up to a company with 200 people, offices in San Francisco and New York, and clients such as SEGA, Kia Motors, Unilever and the Cabinet office, so I can assure you that the roller coaster ride is worth it!
In the spirit of sharing the entrepreneurial wisdom, here the top five tips I’d like to impart to all the aspiring young entrepreneurs out there.

1. Spend every waking hour researching and developing your idea

When setting up your own company, you need to spend every free moment working on your idea. Yes, this may get you into trouble with your other half and prove a challenge when you’re balancing your current job with your new venture, but you want to make sure you get it right. Look at what is out there already, what’s in the pipeline and see if there really is a market for your idea. Your friends and family might not necessarily be the best people to bounce an idea off – they’ll try and be as nice as possible! – so try and find a mentor that can give you a steer in the right direction and some objective advice.

2. Be uncompromising in your vision

Ensure that you don’t add to the endless list of bad products in the world and trust your gut feeling. Organisations live and die by their products so you have to focus on building the very best product you can. While you can certainly seek and take advice from trusted advisers and mentors, don’t dilute your product too much. Andy and I had a very clear and simple goal when we set up Huddle and that was to help people get their jobs done and work better together. This remains the foundation of the business today.

3. Network, network and network some more

Your network of contacts is vital and will prove invaluable when you’re looking to expand your team and gain feedback on your product or service. Take advantage every connection you have – help can come from the most random places. My first boss was Huddle’s original angel investor and this initial funding helped us get started. While online networking has never been easier thanks to LinkedIn, Twitter, Facebook and other sites, there really is no substitute for meeting people in the flesh.

4. Your customers are key – get them involved as soon as you can

Customers provide invaluable feedback, the comfort factor for prospects and proof that there is something tangible to your business for potential investors. Whether it’s an in-depth case study, press announcement or a simple logo and one-line testimonial for the website, having a customer willing to say “we use this and we love it” is as powerful a marketing message as one could wish for. Happy customers will be an extension of your marketing team (when you eventually have one) and true evangelists for your company, so place them at the heart of your business.

5. Be ruthless from the off

It’s not a problem to give away a chunk of your business as you get started – but be mindful of how much it is worth and be ruthless from the very first day. Even at the beginning, you need to be firm and strong when negotiating and doing deals. If you let people walk all over you, you’ll set a precedent from that point onwards for people to take advantage of you and get the upper hand in any negotiations.
And most of all – enjoy it!
Alastair Mitchell co-founded enterprise content collaboration company Huddle with Andy McLoughlin in 2006. Since then the company has raised $40m of venture capital in a series of rounds, has offices in London, San Francisco and New York, and names 80% of the Fortune 500 and UK central government as its clients. www.huddle.com

Wednesday, 23 July 2014

10 Cool Tips on Starting a Small Business on Your Own ...

There are few more challenging, exciting or potentially rewarding endeavors in life than starting your own business. Setting out on your own can feel everything from unnatural to downright foolhardy, but if you're among the select few that manage to get it right just be set for life.
Sadly, there's no blueprint for getting it right in every single business area across the board, but at the same time there are plenty of tips and tricks guaranteed to set you in good stead.
Here's a quick look at 10 of the coolest tips you'll come across for starting out a successful business of your own:
1 - Expect a Rocky Transition
If you expect to go through the process without a single doubt or moment of confusion, you're barking up the wrong tree. When starting out alone, you'll question your sanity, wonder if your goal makes sense and probably panic a little. This is natural, so don't be afraid of a little inner turbulence in the early days.
2 - Fake It Until You Make It
So you're not a high-flying business leader yet - that doesn't mean you can't pretend you're one. Even if you're not making a penny yet, dress as if you were running an important business, schedule your working days and stick to your itineraries like glue - all positive habits you can't form soon enough.
3 - Minimize Risks
Savvy advice in all areas of the business world, but as you're on your own you really can't risk big losses and setbacks. So while it might mean keeping your targets and ambitions low for a while, keep risks to absolute minimums.
4 - Remember Downtime
And while you're burning the candle at both ends, don't forget that without measured and structured time off, you'll never be at your best when it matters most.
5 - Don't Fear
You won't be confident until you know what you're doing is right and this will take some time. So in the meantime, accept that you'll run into a few confidence issues and don't be afraid to be afraid.
6 - Seek Inspiration
Think of who it is that inspires you most and what it is about them that gets you fired up. From business leaders to political icons and really anyone else you admire, take a leaf from the book of your idol and be inspired.
7 - Recognize Procrastination
When you're building a business all alone, you and only you can draw the line between time wasted and time well-spent. Don't let procrastination ruin your chances.
8 - Accept Failure
Not of the business, but rather of your ideas. If something clearly doesn't work, don't flog the hell out of it just to save face - walk away and learn from your mistake.
9 - Ask for Help
If you're wholly intent on going it alone from start to finish, there's no harm in using your family and social circles for a little fresh input from time to time. Asking for help doesn't constitute failure - struggling alone and eventually going bust however does!
10 - Network
And finally, sure you're in it alone, but that doesn't mean you can't connect with millions of other professionals out there with a ton of helpful advice to offer. Use all available web resources to tap into advice and build your business network.
http://EzineArticles.com/8537957

Wednesday, 9 July 2014

Spotting A Gap In The Market ...

IMG_8531
Melissa Morris, 27 years old, left her high-flying job in the city three years ago to develop an innovative website after spotting a gap in the market which could help the NHS to save money in the long run. Shocked at the huge expense that locum staffing was costing small GP practices and the NHS, Melissa joined forces with William Hoyer Millars and so came up with the idea of Network Locum
What led you to the point of creating the business?
During my time as a management consultant at McKinsey & Co, I worked on a number of projects across the NHS. From my work, I realised just how inefficient the NHS was, especially in the area of workforce management, and I believed that I could make a change. Being able to leverage a flexible workforce is the key to making primary care work. During one of my projects I spoke to GPs who were complaining that agencies were too expensive to do this. I knew then what I wanted to do.
To help think of a solution, I looked at other models in different industries and realised that locum staffing could all be done online, which would lead to considerable cost savings. This model would also make locum staffing more transparent. With traditionally agencies, GP practices are often given the nearest available candidate but I wanted to give them a choice in the matter. Network Locum provides them with a choice of candidates so they can make the right selection for them and their patients.
I also wanted to give GPs an option to give recommendations on locums. This is a completely unique feature – there is nothing else like this in the market but I felt it was an important step in giving practices confidence and control over the locums they use.
After two years of research, I decided to leave McKinsey and go and work in the NHS to get a first-hand experience of how everything worked, before setting up Network Locum.
For those thinking of ditching their job, what are you three top tips for an easy transition?
Firstly, if you don’t already work in the industry that you want to start your business in, you should go and try it out. This will help you to get some experience of the kinds of trends and issues that are happening in that sector, and provide some insight into how your business could help.
It’s also a good idea to connect with people that inspire you, namely entrepreneurs who have a success story. They can be really helpful and will take time to meet with you or speak on the phone. I spoke to a host of successful entrepreneurs, from Martha Lane Fox, founder of Lastminute.com, to Will Reeve who founded LOVEFiLM as well as the CEO of Innocent Smoothies. It was extremely valuable.
My final tip would be to validate the idea as much as possible before you quit your job. Maybe even take some time off work to really get your head around it. Interviewing people in the industry and even releasing a pilot project to see if it works can both be really beneficial. This worked for me – we had a free version of the service that we launched whilst I was still working for the NHS. I didn’t quit my job until people started to use it to be really sure it was the right thing to do.
What does it take to succeed in business?
The ability to be humble enough to take advice from people who might know better than you is key. Entrepreneurs often have a passion for what they think is right, but I feel that it’s important to learn from other people’s mistakes otherwise you’ll keep making similar errors.
I have tried to get advice from as many people as possible, even though sometimes it can get confusing. There are times when I haven’t taken well-meant advice on board and regretted it.
Any final advice?
I would say, don’t be afraid to delegate to other people. People confuse this with telling people what to do; actually it is about empowering people to make big decisions. It not only makes your colleagues feel valued, but it really fosters a level of creativity that leads the business to succeed.
Extracts taken from the full interview with Melissa Morris, which can be found at http://www.startyourbusinessmag.com/melissa-morris-network-locum/

Friday, 4 July 2014

Richard Branson's Three Top Tips For Entrepreneurial Success

Billionaire, mogul, financier Richard Branson has built an empire on great ideas and the ability to follow through on a dream. 

Take a few tips from Sir Richard and reach new heights in your own entrepreneurial pursuits.

Provide Untapped Value to the Customer

"The most critical thing with any new venture is we must deliver a tremendous value to the consumer so that it enhances all the ventures we've done before it," says Branson. Today, the Virgin brand encompasses everything from soft drinks to airlines. Branson's approach has been to provide something unique in each venture; something the competition lacks. Find the value, find the customers.

Exploit a Passion

"I start businesses when I have a passion for something. That's also why I went into the airline business, even though everybody I talked to told me that there was no money to be made there. I felt that I could make a difference. That's the best reason to go into business because you feel strongly that you can change things," says Branson. It's the entrepreneurial passion and attitude that makes the difference in achieving lasting success.

Trust Your Instincts

"A business has to be involving, it has to be fun, and it has to exercise your creative instincts." Case in point, the "rebel-billionaire" relied on gut instincts to take advantage of opportunities when they presented themselves. Branson wasn't born wealthy, and began his empire by selling yet-to-be touched (i.e. "Virgin") records out of the trunk of his car when it was unheard of to do so. Slowly but surely, he expanded his business until it became the multi-billion dollar empire we know today. Follow his lead and mix a great idea with real passion.


http://www.success.com/article/richard-bransons-3-keys#sthash.sKbGMTm9.dpuf