Rags to Wreckages... to Riches

Three special questions every successful entrepreneur asks

Successful entrepreneurs are constantly asking three key questions –

1. ‘what isn’t working’
2. ‘why isn’t it working’ and
3. ‘can I do anything about it’?

These three questions are the most important questions in the entrepreneurs vocabluary and a lifetime can be spent on developing the skills and abilities to answer those as successfully as possible.

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Can you become a successful entrepreneur by making more mistakes?

Warren Buffett, still one of the world’s most successful investors, is good at owning up to mistakes.

He has declared on many occasions that holding onto his textile company in the 1970s was an error and that he accepts full responsibility for not listening to the advice telling him to exit the business.

Even in his latest letter to shareholders he warns that “we will make plenty of mistakes”.

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Are you a Business Man/ Woman or Entrepreneur?

What makes an entrepreneur different from a small business man or woman? Well, the best definition of what entrepreneurs do is provided by Peter Drucker. He said

Entrepreneurs innovate. Innovation is the specific instrument of entrepreneurship. It is the act that endows resources with a new capacity to create wealth.

Okay, so what does that mean?

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Successful Entrepreneurs – Take no Debt – Follow the 3B Rule Instead

I’ve been asked to advise Liverpool John Moores University entrepreneur students on getting finance for their new businesses. Controversially, my view on finance for young entrepreneurs would be, don’t. Here’s what I would recommend: a) avoid finance if at all possible and always for as long as possible – learn to beg, borrow and barter b) focus [...]

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