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Atricle Dump - Geoff Alexander Interview
Women Entrepreneurs Prove It's Not Just A Man's World le working with you, be that in terms of partnerships or staff. They are the lifeblood of your business, so you need to value them and they will perform well. As Mike Southon says in The Beermat Entrepreneur 'People buy from People.' So ensuring that people working for you share your vision and at least can serve your customers in a way that they themselves would wish to be treated, is the first step.I had the honor of speaking this week at a women's business association luncheon on the topic of entrepreneurship. When I mentioned to my wife the day before that I was speaking to group of women entrepreneurs she asked, "Why on earth would they ask you to speak?"In her defense my dear wife has no idea what I do for a living. She's never read a single one of the several hundred columns I've written. She's never attended a function where I'm speaking or sat in the audience at any of my seminars.She just knows that we live a very comfortable lifestyle and believes me when I tell her our money doesn't come from the drug trade.Beyond that, she's incredibly happy in her ignorance of her husband's skills.When I feigned hurt feelings she waved a hand at me and said, "My point is, what in the world can a man tell a roomful of women that they don't already know?"Henny Youngman, Ralph Cramden, Rodney Dangerfield, Tim Knox. At least I'm in good company.But she had a point. What the heck did I know about women in business? So as not to look like a total idiot in front of this group of what I now call "womentrepreneurs" I decided to do a little research on the topic.Here's what I discovered: while some still believe it's a man's world, when it comes to business, women are catching up fast.According to the Center For Women's Business Research there are over 10 million women-owned businesses in the US, employing 18 million people and generating $2.32 trillion in sales.Women start businesses at two times the rate of men and women-owned businesses account for 28 percent of all businesses in the United States and represent about 775,000 new startups per year and account for 55% of new startups.One thing that I found particularly interesting was that the top growth industries for women-owned businesses in recent years were construction, wholesale trade, transportation/communications, agribusiness and manufacturing You need to plan, as it’s easier to be passionate about getting somewhere if you know where you’re heading and how you’re going to get there. Plus cash-flow can kill businesses, so it’s important to know what is going to be coming in and out of the business all the time. Again, being open to learning is a key element. Many businesses fail because those driving the business are so caught up working ‘in’ the business, instead of ‘on’ the business, that they can’t implement changes, find time to learn or stay creative or on the ball. That’s why planning and hiring the right people with complementary skills who you can delegate to are essential success factors. These are just some of the elements included in my Start-Up Checklist which appears in the book after the chapter called: LESSONS FROM LEADERS IN BUSINESS: Success Stories, Mistakes and Top Tips DS: How essential do you see a University education in achieving success as an entrepreneur? CR: Not essential. I went to University to a) make my parents proud b) delay the prospect of working for a few more years and c) because with A-Levels reading the Media Guardian I realized all the jobs I wanted to be able to do were only open to graduates. For me, although I ended up on lower or similar income to many of my peers, I needed to be a graduate to get my editorial and writing positions. However, I’d have learned a great deal more if I’d gone into a publishers and worked my way up. I believe work experience counts for a lot more (just as some people I sent my CV to as a graduate believed). What’s more, my partner James is more entrepreneurial than me (and he has the gift of the gab, is more confident, etc). He didn’t go to university, so that proves my point that university education is definitely not essential in achieving business success. Indeed, my BA (Hons) Degree in Media with Cultural Studies may well have hindered me in some ways. I could have been w Scrolling LED signs An impending redundancy from his well paid corporate job in the banking industry left Geoff Alexander pondering his career direction. Rather than apply for other corporate roles, he used the experience as a catylst to follow his entrepreneurial aspirations.Scrolling LED signs is type of LED signs that displays Scrolling text and can be used as outdoor and/or indoor outlet. Wide variety of businesses uses this equipment to spread news and other information quickly and efficiently. These are widely used in the areas like clinic, airport, industry, sporting events, banks and many others.Scrolling LED signs can be connected to corridor of any business firm , hospital’s main appointment system, airport’s waiting division to display updated and current information, circular, notice or commentary automatically without disturbing the in progress activity and staff. This minimizes the work as well saves time marking the whole administration more productive and efficient.These scrolling LED uses the advance technology called LED, which stands for light emitting diode and can generate massage in any color you want. Mostly red, green and yellow color the common choices; you can have multi color versions with combination of all. However, blue and white are the most difficult to produce by LED, Jayex technology gives choice from those colors too. You can customize you scrolled LED sign by having color of character according to your choice.Scrolling LED signs are available in different sizes and character height with number of character per line. There is wide range of choice given by manufacturing department of Jayex Technology, buyers can choose from their according the are when it will be used.The important point to notice here is that Scrolling LED signs are easy to use as they are programmed such that any one can operate these sings with least expertise and easily. Moreover this gives bright effect of the scrolling text, so that information can be view from great distance very clearly.Generally these signs are used as indoor outlet very often, where mounting signs in wall is possible in some of the areas, they can include obtain accessories that comes with signs. If you are using the In October 2004 he established his own marketing company. Out of that he spawned the idea for a separate online company called BeautyandHealth.com... The Interview. DS: What inspired you to quit your well paid corporate job and set up the Beauty and Health Ltd? GA: Well, I had been growing restless for some time, and had been evaluating various opportunities outside my ‘day job’; when notified that my position was going to become redundant, this seemed like the perfect time to ‘go it alone’. Beauty and Health was one of a several ideas that were brought to fruition as a result. DS: Did you have any help setting up Beauty and Health Ltd or were you going it alone? GA: I sought advice from numerous areas and read extensively. I still own 100% of the shares. DS: What was the biggest challenge you faced in bringing your idea to fruition? How was it overcome? GA: One of the biggest challenges was the steep learning curve for the everyday practicalities for setting up and running a business, and having to re-learn and apply marketing techniques to the online world. DS: What makes you most proud about your achievements with Beauty and Health Ltd? GA: I think the fact that, from scratch, I learnt to build, market, and run an online business. DS: How did you actually fund your business to get it off the ground? GA: I set up the company using savings and redundancy compensation. DS: What attributes make a successful entrepreneur? GA: A dream or goal, desire, self-belief, tenacity, ability to learn, adaptability, resourcefulness…. to name a few! DS: What do you believe are the necessary elements for a business venture to succeed? GA: Timing is important, but you need to have USP’s (Unique Selling Points) and a hungry market. Then you need have to have sufficient resources, or else find out how you can access the specific resources that you need to make it work. DS: How essential do you see a University education in acheiving success as an entrepreneur? GA: I would say that it is not essential to have a University education to be an entrepreneur; you only have to look at the Rich List or the number of dropouts that have made fortunes! However, having completed an MBA at one of the top schools in Europe, I would have to say that it has given me essential knowledge, confidence and very good contacts. DS: What are the three most important lessons you have learned about business and entrepreneurship? GA: There are many lessons that I have learned since taking the plunge, so to name only three is difficult – but amongst the most important are definitely: 1) you HAVE to have a deep belief in yourself and be persistent…if something doesn’t work out as planned, modify your approach; 2) Be prepared for the unexpected! Often success is determined by the amount of uncertainty you are able to cope with; 3) be flexible in your approach to dealing with problems as they arise – the higher your goals, the more obstacles you will need to overcome. DS: What advice would you give to an aspiring entrepreneur? GA: You really have to believe in yourself – even when those around you doubt you or knock your ideas. Then you need to be persistent, and willing to learn from your mistakes, and more importantly, from others’ mistakes. DS: What's the number one book you would you recommend to aspiring entrepreneurs? GA: I have read many books that have inspired me, but for an all-encapsulating book I would recommend would be ‘Think and Grow Rich’ by Napolean Hill. DS: What memorable mistakes, if any, have you made in business? What did you learn from them and how can they be avoided? GA: As an entrepreneur, it is easy to think that you have to do everything yourself – however there will always be someone more specialised in each discipline you will need to address as a business owner. The trick is to discover how to obtain the maximum output for minimum input, or to become increasingly efficient as time goes on. DS: What are the best and worst things about being an entrepreneur? GA: The best thing about being an entrepreneur is the immense sense of freedom that you have – the downside to this of course is that whether you succeed or fail is largely down to you! DS: Are there any other thoughts, insights, or advice for aspiring entrepreneurs that you’d like to add? GA: Though it sounds like a clich?, I would say that you have to have a clear idea of your short, medium and ultimately ‘long term’ goals – this will give you direction and focus when the inevitable curveballs are thrown your way! ou find reliable and impressive suppliers you can trust, from a great web developer to a great business card supplier, you learn to stick with them. DS: What makes you most proud of your entrepreneurial achievements ? CR: The book does because it’s something tangible that I can pick up and say ‘Yes! I did this!’ I must admit, I’m often so busy that I only rarely stop to ‘smell the roses’ and appreciate what I’m achieving. This is a lesson in itself that I have to learn to do more and is certainly something that I suggest others do in my book. People (myself included) should list their achievements more frequently. Some books advise to do this on a daily basis, writing down mini-achievements. I guess the main milestones that make me feel proud of my achievements are: The friendships and contacts I’ve gained since embarking on my entrepreneurial journey, including a few ‘celebrities’ such as Anita Roddick and Wendy James, among others, plus a whole host of people who are part of the same online networks as me (such as ecademy.com and Digital Eve) who inspire me and make me feel proud. The people I’ve managed to interview both in the business world and music world makes me feel proud. Learning is so important in life, and being able to learn from those who are ‘living the dream’ is important. Knowing that we’re still doing it and are stronger than ever makes me feel proud, with I Like Music (www.ilikemusic.com) it’s taken us four years, but we are now at a point where some of the larger well-known brands and companies who’ve spent pots of cash but with minimal results are now taking notice of us and can see our strengths. We now have four years worth of great content, contacts and traffic and are ready to take the site to the next level, but we’ve not forked out on flash offices or streams of staff. And with Web Copywriter it’s great that the original business 'WebCritique' has grown organically into this niche area of writing for the web. The fact that all businesses are still going makes me feel proud. DS: How did you actually fund your business to get it off the ground? CR: WebCritique was launched with just a small amount of my own savings, plus a ?1500 bank loan. My personal loan bank refused me for a business loan, so I set up a business account elsewhere. I also sold my car. Since then I’ve financed the business on cash flow, plus overdrafts and occasional loans, which is also the case for I Like Music, which is entirely self-funded. WebCopywriter cost nothing as the design was done in house. I wish there was more cash readily available in the form of grants to small businesses in all areas: both affluent and under-privileged areas. DS: What attributes do you think make a successful entrepreneur? CR: That’s a tough question because there are so many variables that go toward making a business actually work; from personalities and people to the viability of an idea, state of the market and, often, circumstances outside a business owner’s control. As I say in my book, 'Certainly, there is no entrepreneurial elixir you can swiftly drink to make you automatically successful (except your own home-made passion-fuelled one). But you can prepare yourself to seize opportunities and make it happen for you.' However, if I had to list attributes that would make the entrepreneurial life manageable, I would say, you need energy, passion and to be dedicated and thick-skinned. You need to be able to cope with times when your social life will suffer. You should be a great communicator and someone who enjoys networking, be it face to face or online. But probably the most key attribute is the desire to learn. That includes learning from mistakes. In my book I speak to a variety people from Anita Roddick and Stelios to Simon Woodroffe, among others. All of them told me how important listening and learning is as an entrepreneur. And, as soon as you think you know it all, you’re history as a business. As a boss, if small business owners can remember that just because they started the business doesn’t mean they know more about marketing than the marketing chap, businesses would flourish easier. Learning should be a continuous endeavour, so a capacity and interest in learning is a crucial attribute for any entrepreneur. DS: What do you believe are the necessary elements for a business venture to succeed? CR: Good people. You need the right people working with you, be that in terms of partnerships or staff. They are the lifeblood of your business, so you need to value them and they will perform well. As Mike Southon says in The Beermat Entrepreneur 'People buy from People.' So ensuring that people working for you share your vision and at least can serve your customers in a way that they themselves would wish to be treated, is the first step. You need to plan, as it’s easier to be passionate about getting somewhere if you know where you’re heading and how you’re going to get there. Plus cash-flow can kill businesses, so it’s important to know what is going to be coming in and out of the business all the time. Again, being open to learning is a key element. Many businesses fail because those driving the business are so caught up working ‘in’ the business, instead of ‘on’ the business, that they can’t implement changes, find time to learn or stay creative or on the ball. That’s why planning and hiring the right people with complementary skills who you can delegate to are essential success factors. These are just some of the elements included in my Start-Up Checklist which appears in the book after the chapter called: LESSONS FROM LEADERS IN BUSINESS: Success Stories, Mistakes and Top Tips DS: How essential do you see a University education in achieving success as an entrepreneur? CR: Not essential. I went to University to a) make my parents proud b) delay the prospect of working for a few more years and c) because with A-Levels reading the Media Guardian I realized all the jobs I wanted to be able to do were only open to graduates. For me, although I ended up on lower or similar income to many of my peers, I needed to be a graduate to get my editorial and writing positions. However, I’d have learned a great deal more if I’d gone into a publishers and worked my way up. I believe work experience counts for a lot more (just as some people I sent my CV to as a graduate believed). What’s more, my partner James is more entrepreneurial than me (and he has the gift of the gab, is more confident, etc). He didn’t go to university, so that proves my point that university education is definitely not essential in achieving business success. Indeed, my BA (Hons) Degree in Media with Cultural Studies may well have hindered me in some ways. I could have been wo To Shred Or Not To Shred - That Is The Question is not essential to have a University education to be an entrepreneur; you only have to look at the Rich List or the number of dropouts that have made fortunes! However, having completed an MBA at one of the top schools in Europe, I would have to say that it has given me essential knowledge, confidence and very good contacts.Records management is one of the most important elements of good business management, and there are several instances when you need to destroy your records for the good of your customer and for your own protection.1. You Don't Want To Break The Law, Do You?Your business or organization must comply with regulations and laws. These regulations require that your business or company protect vital information when it is discarded. HIPAA and the GLB act needs certain physical safety measures such as shredding or proper document destruction to be done to meet this requirement.2. Make Your Clients HappyOftentimes, individuals are afraid of identity theft and invasion of privacy through those pertinent information that your company's records database contains. It is your sole responsibility as the records manager to destroy these documents for them since you are entrusted with information that they deem to be very confidential. Many clients know that you are supposed to protect all their confidential information through destruction. If your employees' (current or former) privacy that is at stake, you should not wonder if they know that it is your responsibility to protect their personal information.3. Document Destruction in Its Many Forms- Shredding - Physical Destruction - Incineration4. One-time or Often?It is important that before you even consider hiring a document destruction service you have to identify first whether your company needs one-time shredding only or a regular shredding service.5. How Should It Be Destroyed?The type of shredding method - plant based or mobile - will be further decided on as you go through these steps.6. How To Choose A Company- Ensure they are certified - Do they provide a schedule to shred documents? - References and past clientele - Do they provide shred bins? - Will bins be locked physically? - Are any extra services DS: What are the three most important lessons you have learned about business and entrepreneurship? GA: There are many lessons that I have learned since taking the plunge, so to name only three is difficult – but amongst the most important are definitely: 1) you HAVE to have a deep belief in yourself and be persistent…if something doesn’t work out as planned, modify your approach; 2) Be prepared for the unexpected! Often success is determined by the amount of uncertainty you are able to cope with; 3) be flexible in your approach to dealing with problems as they arise – the higher your goals, the more obstacles you will need to overcome. DS: What advice would you give to an aspiring entrepreneur? GA: You really have to believe in yourself – even when those around you doubt you or knock your ideas. Then you need to be persistent, and willing to learn from your mistakes, and more importantly, from others’ mistakes. DS: What's the number one book you would you recommend to aspiring entrepreneurs? GA: I have read many books that have inspired me, but for an all-encapsulating book I would recommend would be ‘Think and Grow Rich’ by Napolean Hill. DS: What memorable mistakes, if any, have you made in business? What did you learn from them and how can they be avoided? GA: As an entrepreneur, it is easy to think that you have to do everything yourself – however there will always be someone more specialised in each discipline you will need to address as a business owner. The trick is to discover how to obtain the maximum output for minimum input, or to become increasingly efficient as time goes on. DS: What are the best and worst things about being an entrepreneur? GA: The best thing about being an entrepreneur is the immense sense of freedom that you have – the downside to this of course is that whether you succeed or fail is largely down to you! DS: Are there any other thoughts, insights, or advice for aspiring entrepreneurs that you’d like to add? GA: Though it sounds like a clich?, I would say that you have to have a clear idea of your short, medium and ultimately ‘long term’ goals – this will give you direction and focus when the inevitable curveballs are thrown your way! ou find reliable and impressive suppliers you can trust, from a great web developer to a great business card supplier, you learn to stick with them. DS: What makes you most proud of your entrepreneurial achievements ? CR: The book does because it’s something tangible that I can pick up and say ‘Yes! I did this!’ I must admit, I’m often so busy that I only rarely stop to ‘smell the roses’ and appreciate what I’m achieving. This is a lesson in itself that I have to learn to do more and is certainly something that I suggest others do in my book. People (myself included) should list their achievements more frequently. Some books advise to do this on a daily basis, writing down mini-achievements. I guess the main milestones that make me feel proud of my achievements are: The friendships and contacts I’ve gained since embarking on my entrepreneurial journey, including a few ‘celebrities’ such as Anita Roddick and Wendy James, among others, plus a whole host of people who are part of the same online networks as me (such as ecademy.com and Digital Eve) who inspire me and make me feel proud. The people I’ve managed to interview both in the business world and music world makes me feel proud. Learning is so important in life, and being able to learn from those who are ‘living the dream’ is important. Knowing that we’re still doing it and are stronger than ever makes me feel proud, with I Like Music (www.ilikemusic.com) it’s taken us four years, but we are now at a point where some of the larger well-known brands and companies who’ve spent pots of cash but with minimal results are now taking notice of us and can see our strengths. We now have four years worth of great content, contacts and traffic and are ready to take the site to the next level, but we’ve not forked out on flash offices or streams of staff. And with Web Copywriter it’s great that the original business 'WebCritique' has grown organically into this niche area of writing for the web. The fact that all businesses are still going makes me feel proud. DS: How did you actually fund your business to get it off the ground? CR: WebCritique was launched with just a small amount of my own savings, plus a ?1500 bank loan. My personal loan bank refused me for a business loan, so I set up a business account elsewhere. I also sold my car. Since then I’ve financed the business on cash flow, plus overdrafts and occasional loans, which is also the case for I Like Music, which is entirely self-funded. WebCopywriter cost nothing as the design was done in house. I wish there was more cash readily available in the form of grants to small businesses in all areas: both affluent and under-privileged areas. DS: What attributes do you think make a successful entrepreneur? CR: That’s a tough question because there are so many variables that go toward making a business actually work; from personalities and people to the viability of an idea, state of the market and, often, circumstances outside a business owner’s control. As I say in my book, 'Certainly, there is no entrepreneurial elixir you can swiftly drink to make you automatically successful (except your own home-made passion-fuelled one). But you can prepare yourself to seize opportunities and make it happen for you.' However, if I had to list attributes that would make the entrepreneurial life manageable, I would say, you need energy, passion and to be dedicated and thick-skinned. You need to be able to cope with times when your social life will suffer. You should be a great communicator and someone who enjoys networking, be it face to face or online. But probably the most key attribute is the desire to learn. That includes learning from mistakes. In my book I speak to a variety people from Anita Roddick and Stelios to Simon Woodroffe, among others. All of them told me how important listening and learning is as an entrepreneur. And, as soon as you think you know it all, you’re history as a business. As a boss, if small business owners can remember that just because they started the business doesn’t mean they know more about marketing than the marketing chap, businesses would flourish easier. Learning should be a continuous endeavour, so a capacity and interest in learning is a crucial attribute for any entrepreneur. DS: What do you believe are the necessary elements for a business venture to succeed? CR: Good people. You need the right people working with you, be that in terms of partnerships or staff. They are the lifeblood of your business, so you need to value them and they will perform well. As Mike Southon says in The Beermat Entrepreneur 'People buy from People.' So ensuring that people working for you share your vision and at least can serve your customers in a way that they themselves would wish to be treated, is the first step. You need to plan, as it’s easier to be passionate about getting somewhere if you know where you’re heading and how you’re going to get there. Plus cash-flow can kill businesses, so it’s important to know what is going to be coming in and out of the business all the time. Again, being open to learning is a key element. Many businesses fail because those driving the business are so caught up working ‘in’ the business, instead of ‘on’ the business, that they can’t implement changes, find time to learn or stay creative or on the ball. That’s why planning and hiring the right people with complementary skills who you can delegate to are essential success factors. These are just some of the elements included in my Start-Up Checklist which appears in the book after the chapter called: LESSONS FROM LEADERS IN BUSINESS: Success Stories, Mistakes and Top Tips DS: How essential do you see a University education in achieving success as an entrepreneur? CR: Not essential. I went to University to a) make my parents proud b) delay the prospect of working for a few more years and c) because with A-Levels reading the Media Guardian I realized all the jobs I wanted to be able to do were only open to graduates. For me, although I ended up on lower or similar income to many of my peers, I needed to be a graduate to get my editorial and writing positions. However, I’d have learned a great deal more if I’d gone into a publishers and worked my way up. I believe work experience counts for a lot more (just as some people I sent my CV to as a graduate believed). What’s more, my partner James is more entrepreneurial than me (and he has the gift of the gab, is more confident, etc). He didn’t go to university, so that proves my point that university education is definitely not essential in achieving business success. Indeed, my BA (Hons) Degree in Media with Cultural Studies may well have hindered me in some ways. I could have been w Is Stalin Stuck in Your Head? d?Are you a duo citizen, residing in the Stalinist Soviet Union during the day, the United States evenings and weekends? Your days are filled with intrigues and the threat of intrigues. Paranoia and purges are the order of the day. You hope your name isn’t on the List. Others disappear, increasing your fear, but at least it wasn’t you this time. To paraphrase an astute commentary of the Third Reich’s rise and maintenance of power, when they came for them I did nothing. I continued in my indifference as they came for more and more thems. Finally I became a them. When they came for me, those left were as silent as I had been. But this has nothing to do with you. You would have stood up to Nazi Germany. Hell, everyone who wasn’t there would have, just ask them. But that 2 bit Stalin you have to answer to each workday is another matter. He’s really frightening. Besides, you have no time for ideals. You have a family to support. Just as profit makes cowards of business, the checks they provide do the same to the workforce.You hope time passes quickly while the sun is up, so you can return to the freedoms guaranteed in the Constitution. It’s Uncle Sam versus Uncle Joe. We won the Cold War, but this one isn’t going well. It’s been said that the hours between 9am and 5pm are anything but democratic in the United States. But at least 5 pm does come and you’re right back in the good old USA. But are you really? Does the trauma of the day leave as the sun sets?You can try to drink Stalin out of your head, or adopt some of his tactics, yell at the kids, let off a little steam. But Joe is persistent. He has settled in permanently. His dacha inhibits a good part of your mind now. Those freedoms guaranteed in the Constitution only apply to government power. Employers can legally make your life a living hell, as long as they do it within certain boundaries. All the pride you hear expressed by others in the freedoms and greatness of America, GA: Though it sounds like a clich?, I would say that you have to have a clear idea of your short, medium and ultimately ‘long term’ goals – this will give you direction and focus when the inevitable curveballs are thrown your way! ou find reliable and impressive suppliers you can trust, from a great web developer to a great business card supplier, you learn to stick with them. DS: What makes you most proud of your entrepreneurial achievements ? CR: The book does because it’s something tangible that I can pick up and say ‘Yes! I did this!’ I must admit, I’m often so busy that I only rarely stop to ‘smell the roses’ and appreciate what I’m achieving. This is a lesson in itself that I have to learn to do more and is certainly something that I suggest others do in my book. People (myself included) should list their achievements more frequently. Some books advise to do this on a daily basis, writing down mini-achievements. I guess the main milestones that make me feel proud of my achievements are: The friendships and contacts I’ve gained since embarking on my entrepreneurial journey, including a few ‘celebrities’ such as Anita Roddick and Wendy James, among others, plus a whole host of people who are part of the same online networks as me (such as ecademy.com and Digital Eve) who inspire me and make me feel proud. The people I’ve managed to interview both in the business world and music world makes me feel proud. Learning is so important in life, and being able to learn from those who are ‘living the dream’ is important. Knowing that we’re still doing it and are stronger than ever makes me feel proud, with I Like Music (www.ilikemusic.com) it’s taken us four years, but we are now at a point where some of the larger well-known brands and companies who’ve spent pots of cash but with minimal results are now taking notice of us and can see our strengths. We now have four years worth of great content, contacts and traffic and are ready to take the site to the next level, but we’ve not forked out on flash offices or streams of staff. And with Web Copywriter it’s great that the original business 'WebCritique' has grown organically into this niche area of writing for the web. The fact that all businesses are still going makes me feel proud. DS: How did you actually fund your business to get it off the ground? CR: WebCritique was launched with just a small amount of my own savings, plus a ?1500 bank loan. My personal loan bank refused me for a business loan, so I set up a business account elsewhere. I also sold my car. Since then I’ve financed the business on cash flow, plus overdrafts and occasional loans, which is also the case for I Like Music, which is entirely self-funded. WebCopywriter cost nothing as the design was done in house. I wish there was more cash readily available in the form of grants to small businesses in all areas: both affluent and under-privileged areas. DS: What attributes do you think make a successful entrepreneur? CR: That’s a tough question because there are so many variables that go toward making a business actually work; from personalities and people to the viability of an idea, state of the market and, often, circumstances outside a business owner’s control. As I say in my book, 'Certainly, there is no entrepreneurial elixir you can swiftly drink to make you automatically successful (except your own home-made passion-fuelled one). But you can prepare yourself to seize opportunities and make it happen for you.' However, if I had to list attributes that would make the entrepreneurial life manageable, I would say, you need energy, passion and to be dedicated and thick-skinned. You need to be able to cope with times when your social life will suffer. You should be a great communicator and someone who enjoys networking, be it face to face or online. But probably the most key attribute is the desire to learn. That includes learning from mistakes. In my book I speak to a variety people from Anita Roddick and Stelios to Simon Woodroffe, among others. All of them told me how important listening and learning is as an entrepreneur. And, as soon as you think you know it all, you’re history as a business. As a boss, if small business owners can remember that just because they started the business doesn’t mean they know more about marketing than the marketing chap, businesses would flourish easier. Learning should be a continuous endeavour, so a capacity and interest in learning is a crucial attribute for any entrepreneur. DS: What do you believe are the necessary elements for a business venture to succeed? CR: Good people. You need the right people working with you, be that in terms of partnerships or staff. They are the lifeblood of your business, so you need to value them and they will perform well. As Mike Southon says in The Beermat Entrepreneur 'People buy from People.' So ensuring that people working for you share your vision and at least can serve your customers in a way that they themselves would wish to be treated, is the first step. You need to plan, as it’s easier to be passionate about getting somewhere if you know where you’re heading and how you’re going to get there. Plus cash-flow can kill businesses, so it’s important to know what is going to be coming in and out of the business all the time. Again, being open to learning is a key element. Many businesses fail because those driving the business are so caught up working ‘in’ the business, instead of ‘on’ the business, that they can’t implement changes, find time to learn or stay creative or on the ball. That’s why planning and hiring the right people with complementary skills who you can delegate to are essential success factors. These are just some of the elements included in my Start-Up Checklist which appears in the book after the chapter called: LESSONS FROM LEADERS IN BUSINESS: Success Stories, Mistakes and Top Tips DS: How essential do you see a University education in achieving success as an entrepreneur? CR: Not essential. I went to University to a) make my parents proud b) delay the prospect of working for a few more years and c) because with A-Levels reading the Media Guardian I realized all the jobs I wanted to be able to do were only open to graduates. For me, although I ended up on lower or similar income to many of my peers, I needed to be a graduate to get my editorial and writing positions. However, I’d have learned a great deal more if I’d gone into a publishers and worked my way up. I believe work experience counts for a lot more (just as some people I sent my CV to as a graduate believed). What’s more, my partner James is more entrepreneurial than me (and he has the gift of the gab, is more confident, etc). He didn’t go to university, so that proves my point that university education is definitely not essential in achieving business success. Indeed, my BA (Hons) Degree in Media with Cultural Studies may well have hindered me in some ways. I could have been w Getting a Federal EIN for Your Start-Up Business - One Little Form - So Many Questions it off the ground?One of the first questions start up businesses have is…"How do I get an EIN?"Before we look at the how to get this magic number, you need to make sure you really need one.If you have a sole proprietorship, with no employees, you do not need an EIN. The Federal Employer Identification Number, or EIN, is an IRS reference number for your business. As a sole proprietorship, your Social Security Number is the only number you need. You do not need an EIN until you hire your first employee.Remember, your states and cities have their own requirements for business licenses, so you need to check with your state and city agencies to determine whether you need a business license in your area. The requirements in each state vary widely, from paying a small fee, to requiring testing, insurance and bonding, depending on the type of your business, entity, or your level of activity.If you have a partnership, corporation, LLC, or plan on hiring employees, you need to apply for a Federal EIN. For business entities other than sole proprietorships, your Federal EIN acts like a Social Security number for your business entity. Banks require a Federal EIN to open a bank account, and your vendors may require you to give them this number for Form 1099 reference purposes.Your business entity only needs one EIN. Your company may operate multiple business entities under different dba (doing business as) names, but each legal entity should only apply for an EIN one time. Even if you change the type of tax return you file, if you have an LLC, you should still use your original EIN. The only time you should apply for a new number is when your business changes ownership, either through incorporating a sole proprietorship or changing from a sole proprietorship to a partnership.The Federal EIN is also used for trusts, pension plans, state or local tax agencies, withholding agents, associations, etc. This causes confusion, as the application f CR: WebCritique was launched with just a small amount of my own savings, plus a ?1500 bank loan. My personal loan bank refused me for a business loan, so I set up a business account elsewhere. I also sold my car. Since then I’ve financed the business on cash flow, plus overdrafts and occasional loans, which is also the case for I Like Music, which is entirely self-funded. WebCopywriter cost nothing as the design was done in house. I wish there was more cash readily available in the form of grants to small businesses in all areas: both affluent and under-privileged areas. DS: What attributes do you think make a successful entrepreneur? CR: That’s a tough question because there are so many variables that go toward making a business actually work; from personalities and people to the viability of an idea, state of the market and, often, circumstances outside a business owner’s control. As I say in my book, 'Certainly, there is no entrepreneurial elixir you can swiftly drink to make you automatically successful (except your own home-made passion-fuelled one). But you can prepare yourself to seize opportunities and make it happen for you.' However, if I had to list attributes that would make the entrepreneurial life manageable, I would say, you need energy, passion and to be dedicated and thick-skinned. You need to be able to cope with times when your social life will suffer. You should be a great communicator and someone who enjoys networking, be it face to face or online. But probably the most key attribute is the desire to learn. That includes learning from mistakes. In my book I speak to a variety people from Anita Roddick and Stelios to Simon Woodroffe, among others. All of them told me how important listening and learning is as an entrepreneur. And, as soon as you think you know it all, you’re history as a business. As a boss, if small business owners can remember that just because they started the business doesn’t mean they know more about marketing than the marketing chap, businesses would flourish easier. Learning should be a continuous endeavour, so a capacity and interest in learning is a crucial attribute for any entrepreneur. DS: What do you believe are the necessary elements for a business venture to succeed? CR: Good people. You need the right people working with you, be that in terms of partnerships or staff. They are the lifeblood of your business, so you need to value them and they will perform well. As Mike Southon says in The Beermat Entrepreneur 'People buy from People.' So ensuring that people working for you share your vision and at least can serve your customers in a way that they themselves would wish to be treated, is the first step. You need to plan, as it’s easier to be passionate about getting somewhere if you know where you’re heading and how you’re going to get there. Plus cash-flow can kill businesses, so it’s important to know what is going to be coming in and out of the business all the time. Again, being open to learning is a key element. Many businesses fail because those driving the business are so caught up working ‘in’ the business, instead of ‘on’ the business, that they can’t implement changes, find time to learn or stay creative or on the ball. That’s why planning and hiring the right people with complementary skills who you can delegate to are essential success factors. These are just some of the elements included in my Start-Up Checklist which appears in the book after the chapter called: LESSONS FROM LEADERS IN BUSINESS: Success Stories, Mistakes and Top Tips DS: How essential do you see a University education in achieving success as an entrepreneur? CR: Not essential. I went to University to a) make my parents proud b) delay the prospect of working for a few more years and c) because with A-Levels reading the Media Guardian I realized all the jobs I wanted to be able to do were only open to graduates. For me, although I ended up on lower or similar income to many of my peers, I needed to be a graduate to get my editorial and writing positions. However, I’d have learned a great deal more if I’d gone into a publishers and worked my way up. I believe work experience counts for a lot more (just as some people I sent my CV to as a graduate believed). What’s more, my partner James is more entrepreneurial than me (and he has the gift of the gab, is more confident, etc). He didn’t go to university, so that proves my point that university education is definitely not essential in achieving business success. Indeed, my BA (Hons) Degree in Media with Cultural Studies may well have hindered me in some ways. I could have been w Startup Ideas That Don't Make the Mark le working with you, be that in terms of partnerships or staff. They are the lifeblood of your business, so you need to value them and they will perform well. As Mike Southon says in The Beermat Entrepreneur 'People buy from People.' So ensuring that people working for you share your vision and at least can serve your customers in a way that they themselves would wish to be treated, is the first step.Recently, we have been receiving a lot of applications for the funding commissioned by MDA. There are good and bad ideas. Of course, some of them will be getting “No, I am sorry to inform you that….” from us. it should not mean to you that it is the end of the road if we don’t fund you. If you believe in your idea so much, you should continue the search for funding. Even better, try to do a startup without funding, like some of our resident contributors, Cobalt Paladin, Design Sojourn, Weichang, Der Shing and myself have done. Through a few correspondences and meeting some self-proclaimed and crappy “entrepreneurs”, I have set up a list of reasons why they don’t make the mark. I have also placed some notes in this post to tell people what kind of entries will end up in our rubbish bin. Here are three reasons why we are ready to reject them.1. One man show is bound to fail.Despite how much we tell everyone that a team is important, some Singaporeans are still doing that. Usually when an entrepreneur tells me that he runs a one man show, three possibilities come to my mind: (i) he cannot inspire people to work with him, (ii) he cannot scale his business and hence his profit margins will be extremely low or (iii) he does not know how to grow his business. Good businesses require tight-knitted small teams and great business demands a vast number of good and strong teams. This is one problem I see with single inventors. If I keep trying to help them and gather people around them and they still do nothing, this demonstrates that they just cannot handle people. If you are still not convinced by my reasoning, here is a story which I can share with you.Years back when I was in Cambridge, a brilliant German inventor I know approached a friend of mine from the United States to do business development. They formed a startup and I thought that the technology was fantastic to make the next Google. This is what exactly happened. One day, the inventor You need to plan, as it’s easier to be passionate about getting somewhere if you know where you’re heading and how you’re going to get there. Plus cash-flow can kill businesses, so it’s important to know what is going to be coming in and out of the business all the time. Again, being open to learning is a key element. Many businesses fail because those driving the business are so caught up working ‘in’ the business, instead of ‘on’ the business, that they can’t implement changes, find time to learn or stay creative or on the ball. That’s why planning and hiring the right people with complementary skills who you can delegate to are essential success factors. These are just some of the elements included in my Start-Up Checklist which appears in the book after the chapter called: LESSONS FROM LEADERS IN BUSINESS: Success Stories, Mistakes and Top Tips DS: How essential do you see a University education in achieving success as an entrepreneur? CR: Not essential. I went to University to a) make my parents proud b) delay the prospect of working for a few more years and c) because with A-Levels reading the Media Guardian I realized all the jobs I wanted to be able to do were only open to graduates. For me, although I ended up on lower or similar income to many of my peers, I needed to be a graduate to get my editorial and writing positions. However, I’d have learned a great deal more if I’d gone into a publishers and worked my way up. I believe work experience counts for a lot more (just as some people I sent my CV to as a graduate believed). What’s more, my partner James is more entrepreneurial than me (and he has the gift of the gab, is more confident, etc). He didn’t go to university, so that proves my point that university education is definitely not essential in achieving business success. Indeed, my BA (Hons) Degree in Media with Cultural Studies may well have hindered me in some ways. I could have been working all that time and saving up to fund my own business. And, if you look at the most successful people in UK business, the majority of them didn’t go to college let alone university. Richard Branson, Simon Woodroffe… DS: What are the three most important lessons you have learned about business and entrepreneurship? CR: 1. Everything always takes longer and costs more than you think it will (even when you are fairly stringent with your planning). 2. Go with your gut feeling. Learn how to feel what that is and go with it. The buck stops with you, so you need to get as many decisions right as you can. Some of these decisions will involve others trying to sell you something: support or a service or a partnership. There is a time for diplomacy and sometimes you will need to listen to your instincts and opt not to go ahead with a certain partnership or project. 3. Listen and learn constantly. You must never think you know it all as nobody does. People like to give advice and tell you what they know about things, so you can be constantly learning. You also need to delegate, and appreciate that there are people out there who can compliment your talents. Remember, it’s all about people. DS: What advice would you give to an aspiring entrepreneur? CR: Do your research, find out what your potential customer needs are and test the market where possible. Surround yourself with a good support network and work out your break-even point before you take the plunge. Buy or create a checklist that you can go through before you set up, making sure you’ve considered everything from your company name and marketing to your website, staff and expenditure needs. DS: What's the number one book you would recommend to aspiring entrepreneurs? CR: Of course my own book – The Small Business Start-Up Workbook. However, another book I would heartily recommend is Anyone Can Do It by Sahar and Bobby Hashemi of Coffee Republic, and also Anita Roddick’s Business As Unusual – both are inspirational and help you get things into perspective. Both are available from Amazon.co.uk, or you can order Anita’s books via her own site at www.anitaroddick.com DS: What memorable mistakes, if any, have you made in business? What did you learn from them and how can they be avoided? CR: Earlier I mentioned the importance of going with your gut feeling. Well, if I’d done that on at least two occasions, I could have saved a lot of time, credibility and money. We chose a web development team based on referral who ended up being appalling. They made very technical looking sites which had a reduced Google ranking, terrible indexability and were poorly designed and coded. Effectively they talked the talk but didn’t walk the walk. If I’d followed my gut instinct earlier on when the partnership was being discussed, I’d have walked alright… away from them. The partnership cost us credibility, lost Google ranking, plus a whole year of our time. Fortunately, we found a new developer who has made our sites the best they have ever been. But that’s just part of the roller-coaster ride of running your own business. DS: What are the best and worst things about being an entrepreneur? CR: Best things are the freedom and flexibility it gives you in terms of trying to reach your goals and in being your own boss. Plus, it’s nice to feel in control of your destiny. The worst things are that nobody can understand what it’s like to run their own business until they do it themselves and the fact that you lose a lot of ‘me’ time and social life when you work long hours on your business. Not getting paid holiday is another negative and personally it’s my occasional inability to switch off from business mode. DS: Are there any other thoughts, insights, or advice for aspiring entrepreneurs that you'd like to add? CR: If you believe in your idea, have some proof to back it up and have the energy to be your own boss, go for it. Remember, it’s better to try and fail than to not even bother to try then get to the end of your life wondering, ‘what if’ and ‘if only I’d done that.’
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