“I would start a business if only I could come up with an Idea”
Here’s an idea for a business. If I could collect a pound for every time someone has said that to me – I would be, well, better off than I am now!
In all honesty, I hate hearing that phrase. What makes people think they have to come up with a new idea? Have a look at the Sunday Times Rich List. There are 1,000 people in there. But how many of them have come up with a new idea? Very few is the answer and yet most people that I come across still say that the only thing holding them back is that they cannot think of a new idea.
economist1
I have a challenge for every person out there who wants to start their own business (and is serious!) and says that all that is holding them back is an idea. If you follow the guidelines I will give over the next few weeks on how to read a newspaper and the Economist (it is my bible!) I will promise you that you will have lots of ideas that mean that this time next year you will have no excuse not to have started your own business! Some promise – but as I see it you have nothing to lose. The only person to lose would be me as I would have lost credibility with you the reader.
I will start issuing my guidelines from tomorrow – so please do drop in again. In the meantime, I would like to mention another bug bear of mine; exhibitions and shows aimed at ‘inspiring success and business”
They are a racket – please stay away from them! I have probably met close to 500 Entrepreneurs in the last ten years or so. None of them were inspired to start a business by attending a workshop. These events are great as pick me ups – but if you are serious about starting something you will not need to be inspired to start a business!
Don’t get me wrong – I like these events and I think they can be a tremendous boost for you when you are feeling a bit zapped of energy, a year or so after you have started your business. But if you are low on energy to start a business – trust me – running a business is not for you!
logo
I have been thinking about writing a blog for sometime, but finally got round to it when I was persuaded by a close colleague that some people might find it useful to read through my experiences and my thoughts on the business issues that I have to deal with.
So who am I? My name is Permjot Valia and I have been an active investor and supporter of start up businesses for the last four years. I have seen over 200 business plans in that time and have invested in 16 different businesses. Some of the investments have failed (four) and some are doing well, with the jury out on the others. Because of my experiences (good and bad), I am often asked to talk to start ups about how they should write a business plan and pitch to investors like me. I am also very keen on supporting start ups and Entrepreneurs.
What has been very interesting for me to watch is the growth in interest in programs like Dragon’s Den and The Apprentice. Whilst without a doubt it has increased the levels of interest there are out there in commerce, it creates in my view a much distorted view of business. Whilst the Sir Alan Sugar school of business has its place, I think it is terribly outdated and it is what he is – a relic of the 1980s. Today, more so than ever business is about collaboration, working in teams across the world and making a difference to the customer. Yes Sir Alan is a lot more successful (in terms of money he has made) than I will probably ever be – but that should not be the only yardstick that you measure a great business person on (or am I wrong – should it?). Just remember 12 years ago, Amstrad was worth more than Apple is and now something like 80% of his wealth is in property. (The last apprentice winner Simon was after all that given a job as an estate agent!)
Sorry, my point is that I want to speak up for that other way of doing business and share stories with my readers about things I have learnt and am learning from the great and the good about how to do business. I should add that I would also say that I have a very good contact book and like doing business with people who really know their stuff. Certain people have a high profile because they pay people like Max Clifford to make sure they are in the Sunday Times Rich List (most smart people pay accountants to make sure they are not in the List!) or that they appear on crappy TV programs like ‘Secret Millionaire’ – “poverty tourism” as the Guardian described it. They have a profile which is not merited on the basis of what they have achieved.
Others have high profiles because they are bloody good at what they do and they have had numerous successes. I would like to think that the people I work with are in this category and are not only high profile but really nice as well.
I hope through the course of this blog I can introduce you to some of these people along with new business concepts, routes to market as well as give an insight into the sometimes elusive world of start-up business and early stage investment.
