Celebrating New Business, Next Steps

Celebrating New Business, Next Steps

Eight years ago today the book I was invited to write with Ed Goodman was No 1 Bestseller in Heffers Bookshop, Cambridge. 

It's interesting that most of the content is exactly the same advice as I talk about today, except for the chapter on marketing which is changing even faster now that it was then! 

Timeless business advice

The things you need to run a good business now are the same as they were in 578AD when Kongo Gumi, the oldest, continually operating company in the world was started. (Its a construction company specialising in Buddhist temples and was run by the same family for 1,400 years.)

Kongo Gumi, the oldest, continually operating company in the world was started. (Its a construction company specialising in Buddhist temples and was run by the same family for 1,400 years.)

Today I asked members of Drive, the Collaborative Network, what they know now that they wished they'd known when they started their business.

This is what they told me:

  • Find people you can trust to help with the things you don't know.
  • Ask questions, ask for help, ask for advice.
  • Learn how the finances of a business works before you do any marketing.
  • Get your pricing right. Working on shoestring or just to cover costs doesn't work.
  • Profit is more important than turnover.
  • Know your worth - work on your confidence.
  • Learn people skills. All business is about people.
  • Get good Ts & Cs and contracts.
  • Set firm boundaries between work and family and with clients.
  • Learn to manage expectations.
  • Collaboration is better than competition - create alliances.
  • Get a *qualified* accountant / bookkeeper.
  • Keep learning.
  • Don’t compare yourself to other people.
  • Invest in yourself and your work. Practice Mastery.
  • It's good to delegate and outsource but that doesn't mean we abdicate responsibility - it's still our business!

The enduring things that every business owner needs to manage well are:

  • Time
  • Money
  • Sales
  • Marketing
  • Processes
  • Planning

And all of these things need to be related to your goals:

  • How much do you want to work?
  • How much do you want to earn?
  • What else do you want to do with your life?

Advice on how to build a business is timeless - there is no silver bullet, no hack, no way to get rich quick, so if you have specific questions I’m happy to answer them.

You can find most of the answers you need on my blog or you may still be able to buy the book!

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