Recognise warning signs as key to survival

As you plan and implement the essential requirements, be mindful that there will always be a downside and a risk of failure. We are all constantly exposed to negative influences and potential threats. The knack is not to let the downside pull the upside down, so be careful who you talk to about your “big picture”. Many people cannot see beyond their own experience, which does not necessarily include the basics.

If people cannot understand what you are trying to achieve, they will almost always discourage you. With many ideas today, particularly those involving technology, creativity, and innovation, there needs to be a level of understanding and knowledge for people to grasp the opportunity.

Many younger people become so excited about their ideas that they want to share them with everyone while they are still only ideas and become discouraged when nothing happens. Many expect to make a giant leap from start-up to millionaire without the basics being in place.

Too many spend too much time in the trenches and not enough time to plan and refocus to solve their problems as they move forward. Be as practical and as prudent as you can be. There will always be mistakes and failures, which are a critical prelude to final success. Without the basics in place, the risk of mistakes and failures will be ever-present.

It is from your failures and mistakes that you learn the most.

  • Be careful who you open up to; few people care, most focus on their schedule.
  • Moving too quickly to obtain customers before you are ready can be dangerous.
  • When someone becomes a customer, they will expect things to happen.
  • Many people think advisor services should be free of charge. Nothing is for nothing.
  • Don’t take two years to decide; the need is there now, so act on it.
  • Dependence on one person can mean if they stop, everything stops.
  • Don’t speak to a potential partnership or funders until you’re well prepared.
  • Avoid attracting do-gooders without experience.

Are you holding back your business?

Focus on creating a great Business Model and Business Plan that covers the basic requirements and continuously adds value to them. It is hard to achieve a successful blueprint for your business on first attempts, but keep working towards it. Some of the best things come when you least expect them, mainly if the basics are in place. Of course, it would help if you weren’t struggling to have things work out.

Always heed the warning signs; risks can be deadly.

Don’t make excuses for not making your business fire; stay focused on all the reasons why you must make it happen. In ten years, you will be more disappointed by the things that you didn’t do than by the things you did do. Only you can change what you are doing; no one can do it for you. After all, it is your business.

Quotable Quotes

“Warning: When looking to improve outcomes or starting a new project gathering the crowd in the first instance could give your project the kiss of death as the negative knockers rear their heads”. Peter Sergeant

“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently”. Warren Buffett

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