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How to Be a Successful Entrepreneur: Spot the Opportunity, - download pdf or read online

By Helga Drummond

ISBN-10: 0749455144

ISBN-13: 9780749455149

How to be a profitable Entrepreneur explains tips on how to increase the percentages of industrial success.  it's going to aid marketers avoid probably catastrophic dangers and mistakes whereas recognizing and exploiting reliable possibilities. the writer addresses vital judgements comparable to: How do I realize a superb opportunity?  whilst may still I take a risk?  while may still I reduce my losses?  while is the easiest time to promote a thriving business?  How do i do know what’s top for me? Real-life examples contain the failure of Barings financial institution, the luck of Dell pcs, and business-changing judgements through Coca-Cola.

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Extra resources for How to Be a Successful Entrepreneur: Spot the Opportunity, Take a Risk and Build a Brilliant Business

Sample text

The statistics on new business start-ups are frightening. Fewer than 20 per cent survive beyond two years. Moreover, when new businesses collapse, the results are often financially and emotionally devastating. Nor are experienced entrepreneurs immune from failure. Almost all tell stories about deals that soured, about contracts that lost money and opportunities that became liabilities — sometimes with disastrous consequences. 20 ❚ How to be a Successful Entrepreneur Yet many failures are avoidable.

How long do you continue waiting? Your investments have halved in value. Should you keep them or sell? You are converting an old mill into a block of flats. The once buoyant property market has collapsed. Should you finish the project? 48 ❚ How to be a Successful Entrepreneur Being on hold on the telephone, faltering share prices and a changing market — all of these problems share three features, namely that: ■ ■ ■ you have made an investment in anticipation of results; results have yet to materialize; you must decide whether to quit or continue.

What I can say, however, is that, done properly, a plan is a good way of testing reality, thereby helping to avoid the overconfidence trap because the process of planning forces you to consider whether your ideas are practical. The trouble is that the most important element of the plan is ultimately guesswork. You can usually estimate costs with reasonable accuracy. More difficult is estimating how many customers there will be and how long it will take for the business to become established. Starting a new venture, ‘giving it a go’, whether it is a completely new foray into business or branching out from an existing business, can be very exciting.

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How to Be a Successful Entrepreneur: Spot the Opportunity, Take a Risk and Build a Brilliant Business by Helga Drummond


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