More business talk

So in last month’s article I started to talk about business start-ups and the credentials that need to be set firmly in place before you can consider opening the doors to your business. From the research I have conducted and from my own experiences working in business environments I have come to realise a few important factors.

Many people start up a business because they are self-indulgent. Ok, that may sound harsh but think about it. That is often the premise of what a business begins with. People want to sell something that they themselves love, that they think is great and that they want other people to see. The problem with self-indulgence is that it can often cloud your judgment. Instead of being prepared to change, progress and adapt many businesses often stagnate and lose sight of what it is they are actually trying to achieve. At the end of the day a business will only work if you are selling something, whether that be a product or idea, that people actually want.

Let’s use an example. Someone opens a restaurant because they think they are a good cook and they are determined to sell the food that they know and love. This is all very well and good as long as other people know and love it too. The other problem here is that many people try and open restaurants in a flooded market and think that their ‘good’ food is enough to get them through. In today’s world you need to have a unique selling point. What is it that you are offering that somewhere else isn’t? So this can come in two forms. You either offer something that is truly unique and that has not been done before or you offer something that is done to a much higher standard than anywhere else in your location. This is essentially the breaking point for most businesses - they are too self-indulgent to think with a clear, business focused mind.