Start and grow your business in 2013
It’s a New Year and the entrepreneurial juices are flowing. It’s time to start the business that you’ve been talking about for years. What’s stopping you?
Or maybe you’ve already got a business but it’s not growing as fast as you had thought, what has to happen to make this year the year it doubles its revenue?
I’ve talked to thousands of prospective entrepreneurs and small businesses over the years and surprisingly it’s not always lack of funding that is the biggest hurdle. It’s fear of the unknown.
Whether you are dreaming of starting a business or hoping that this year your business is going to somehow take off, it is much more comfortable to continue dreaming than to do something about it. The dream is warm and cosy; we can lie in bed and feel comforted that our lives can change for the better at any time. But if we take action, what if it doesn’t work out? There’s no longer a dream just trouble.
When I started Company Partners, one of the key drivers was to allow people to find a business partner with complementary skills and a like-mind. Having a partner will motivate and encourage anyone starting a new business. It’s quite daunting by yourself.
For existing businesses, sometimes it’s not a new (expensive) employee that you need but someone else with ideas and energy that could join as a risk (and reward) taking partner to grow the business.
Yes having the funds to start or grow a business is also important and that’s why we have such a strong Investor community on Company Partners, but the first thing is to stop dreaming and do it.
There are things you can do to get the ball rolling. Write down your ideas for a business, or the way that you would like to grow, think what you need to do in order to make this happen. Dare I say, join Company Partners and search for a business partner, or Investor.
The key is to get started. Don’t wait, have drive, energy builds on energy.
Times like this have many benefits for start ups – cheap assets available through liquidation sales, possibilities for flexible deals with landlords, potential for deals with suppliers and modest staff expectations. Having said that, there still needs to be a market, competitive pricing, excellent service and a careful eye on cash flow. Those lacking these will not survive. We have launched a new business this week to supply salt to householders and businesses in the central south region. Was it a good idea? Ask me in 12 months’ time!
I always welcome news regarding my own business set up however find my one and only obstical is indeed getting a business partner/investor. I have completed my research, stratagy, business plan and viewed all competition I have a web designer still active with me web site. Over the past 13 months now I have the government Job centre plus on board with many businesses ready to register. So have the customers, have the platform, have the 1000′s of clients just require a launch. Unfortunatly have now no employment and no funds to even register with Angels or any-one able to assist that charge funds. My question is can you help ?
Well, I think that the beginning of a new year is not the perfect time to start a new business. It’s similar to all these promices people give for themselves, like quite smoking, meet the man/woman of your dreams, start doing sport…. only to forget about all that stuff a bit later.
Yes I agree that lack of funding is not an issue at all. Finding pilot customers and finding good co-founders/first employees is the key.
The only thing I need is finding a partner who has the skill set I don’t have. I just have the idea but know nothing about the liquor industry
Nice, short,and easy to understand blog, Lawrence. You point is well taken. It’s not just the money but a person who has a business understanding and experience to team with my own creativity is a must! And what a partnership we are going to make! The sky is the limit so I look forward to the membership with Company Partners and the process of finding a partner.
Awesome post and really encouraging. This post is not like the run of the mill content that we can see from Angel investor or VC companies ranting about their uniqueness. You are a true mentor. But will you agree to mentor a wannabe mentor?
This wannabe mentor (me) has dabbled in various businesses and has been working too. So I have been on both sides of the negotiating table at various points in time. A nightmare for the HR you may call me. But that is okay because I do not intend to be a rat in the rat race.
Looking forward to be a valuable add in your mailing list.
Thanks and regards,
Rajesh