SUCCESSFUL ENTREPRENEURS, BEST, RICHEST, WEALTHIEST, HOW TO START A NEW COMPANY
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Successful entrepreneurs are a breed apart and for every successful entrepreneur there are ten thousand who never make the grade. The reasons for their failure are many fold; too many to cover in any detail here, so rather than focus on the negatives, here are out top tips on how to become a successful entrepreneur.
- Successful entrepreneurs recognise their weaknesses and surround themselves with business partners with the skills and experience they lack.
- Partners cost nothing except a share in future profits.
- Good partners will ensure greater profits.
- Half or 25% of ten million is far more than 100% of nothing.
- You cannot be good at everything and you cannot hope to succeed by doing everything yourself.
- Focus on sales. Income is the lifeblood of any business. If you allow business activity to distract you from making sales, you are doomed to failure.
- You are not in business to make money - you are in business for profit. Successful entrepreneurs have partners who manage their financial business affairs.
- Manage your cash flow. Whilst you are focusing on sales, your finance director should be on top of the finances of the business. Most businesses don't fail due to a lack of money, they go under because they are mismanaged.
- Keep your overheads low. Outsource everything so that you know exactly what your staffing levels cost today and will cost you in the future.
- A good business idea doesn't necessarily make a good business. In fact a good idea is nothing until someone turns it into a profit making business.
- Launching a new business or product costs money.
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If you are serious about becoming a successful entrepreneur, the best business decision you could make right now is talk to us.
We make businesses more efficient, more productive and therefore more profitable. We do this by bringing skilled, intelligent business people to the boardroom table who are highly experienced in each of their own fields. We work on either a fee paying basis or in some cases, where the business is lacking the financial resources but has potential; on a share equity basis.
You will find the following information about how to become a successful entrepreneur invaluable:
If you think you have a good business idea, at some point you need to send us an email or pick up the phone
if you think you have what it takes to
be a successful entrepreneur