[MarkTaylor68]

To achieve success in a dynamic marketplace, new businesses need to quickly establish a real and sustainable competitive advantage. Whether through the exploitation of intellectual property or by creating an innovative and exciting business format, the management team needs a robust business model to deliver profitable growth.


Yet many new businesses fail to get off the ground, or, worse still, only manage to stumble along, struggling to break even or create meaningful value for the directors. To make a new business work it it helps to have the people, tools and resources to help you make the right start. When these are aligned to a clear system of goals you have the essence of a successful business model.

For more information google 'Eriskay Associates' and look under Services for Serious About Start Up information.

[IP2]

Not disagreeing with you at all Mark, but I feel there are a few more factors that come into play than just a great business plan and a fantastic USP, both of which can quickly be lost to a motivated competitor.

Business success also needs determination, hard work, the ability to adapt and that most unbusiness like word...luck!

I read along time back that only 2% of businesses survive for two years, quite a remarkable figure. Now if you look at the first dot com boom, you will see many businesses that totally fit the model you describe, that wasted millions of pounds and that are not here today, so if that was all there was to it anyone could run a business, unfortunately it takes more than text book theory to be successful.

Most business successes have neither of the above qualifications, they succeed through finding a market that has been overlooked and through hard work they have created a space in that market for themselves, or have forced themselves into a market through sheer determination.

Having run companies and advised companies for most of my life, I appreciate the ideal business scenario, I just don't buy the text book stuff!

[Logan]

I think the most important thing is to finde the right market for right product...

[MarkTaylor68]

Totally! I don't buy entirely buy text book stuff either - but there's something to be learned from most sources. For me, there are 3 major ingredients to effective business:

1. A robust business model;
2. Operational slickness;
3. Personal effectiveness.

The trick is to find the right recipe - doubtless trial and error plays a part but, like you, I'm a great believer in the individual entrepreneur as 'effectuator' - someone who goes out and makes it happen. Advice and support can save a lot of time and effort and keep a business out of the 98% (is it really that high????)

Best wishes,

M.

[MarkTaylor68]

I don't disagree Logan, but I think there's an art to making it happen. I've met a lot of entrepreneurs with good ideas, who, for various reasons, haven't made it happen. It's my life's work to help. M.

[Indizine]

Mark, have you got very successful businesses of your own already then?

[freelancer]

You need to be dedicated. You need a reasonable cash flow, a solid idea, a good USP, a business plan to get you there, so you can see if have achieved goals e.t.c

[Poppy Design]

Originally Posted by IP2

I read along time back that only 2% of businesses survive for two years

Wow! that is a scary figure! Is it right?

I am just past 2 years in business (phew) and things seem to be going from strength to strength.

Hard work, determination, passion for your business and an excellent product/service has done it for me.

Joanne

[RedEvo]

Realistic pricing is very important. I think many new businesses don't factor in the true cost of delivering their services. Then, when their savings run out their businesses go pop.

d

[IP2]

Originally Posted by Poppy Design

Wow! that is a scary figure! Is it right?

I am just past 2 years in business (phew) and things seem to be going from strength to strength.

Hard work, determination, passion for your business and an excellent product/service has done it for me.

Joanne

Congrats . I don't know if that figure is still true, but I suspect it probably hasn't changed much (I am not totally sure, but I suspect I read it in the Sunday Times 10+ years ago) it certainly stuck in my head at the time as being quite amazingly low. Having had over 15 companies last more than 2 years, I figure I enter a fairly small proportion of the World's population! LOL