Following on from my last post about the results of my entrepreneurial profiling test which drew lots of comment, here are the entrepreneur types who are MORE LIKELY to still be in business after the crucial and most difficult early first 3 years (together with my suggested reason why):
Alphapreneur (very assertive, highly ambitious and ruthless)
Bosspreneur (short term deal driven)
Dadpreneur (have built a lifestyle businesses out of a previous corporate existence where they were highly successful)
Passionpreneur (high energy, able to attract the right people and support to help them push through problems)
Sociopreneur (refuse to give up on their mission)
And the types who are LESS LIKELY to survive the first 3 year 'start up' phase:
Execpreneur (used to the corporate support system; build in way too much overhead early on instead of focussing on sales)
Mumpreneur (realise business takes a lot more time and committment than they first thought)
Safepreneur (give up when the going gets tough)
The above is not to say that these types cannot achieve business success - I'm simply highlighting the strengths and weaknesses of each type. Two thirds of all UK business start ups fail; we need to try to find ways to reduce the failure rate.
Self understanding is a good start.
Showing posts with label business. Show all posts
Showing posts with label business. Show all posts
Monday, 3 December 2007
Saturday, 14 July 2007
Tough at the Top
Despite all the criticism, I was fascinated to watch the televised highlights of the Alastair Campbell Diaries this week.
The struggle to implement the 'Big Vision' when dealing with people who can't see much beyond the end of their own nose, let alone anywhere past tomorrow; the emotional highs and lows of the journey; the determination is takes to keep going in the face of huge adversity; the unfairness and bias of the media, and the constant juggle between career ambition and family demands.
All in all, a bit like building a big business really.
The most amazing part was how Tony Blair managed to put on such a charming and persuasive front throughout, when much of the time his blood must have been boiling.
Although I am a dyed in the wool Tory - and a big Cameron fan - I still have a great respect for Tony Blair. He transformed Labour at a time when they were totally unelectable; yes Iraq was probably a mistake, but it's easy to criticise the decision in hindsight. If Saddam had continued in power and committed a few atrocities we would all be complaining why no one took a stand when they had the chance.
In the way of all great leaders, like Thatcher before him, the faceless talentless ones always eventually turn and kill the goose that laid their golden egg. Does anyone seriously think that Brown would have won the election back in 1997? It was Blair who made it possible for him to take power today.
In politics (as in business) momentum, once created, is a great asset - but it's only possible for the free ride to last for so long. It will be interesting to see how long Brown can ride the wave that Blair created for him.
The struggle to implement the 'Big Vision' when dealing with people who can't see much beyond the end of their own nose, let alone anywhere past tomorrow; the emotional highs and lows of the journey; the determination is takes to keep going in the face of huge adversity; the unfairness and bias of the media, and the constant juggle between career ambition and family demands.
All in all, a bit like building a big business really.
The most amazing part was how Tony Blair managed to put on such a charming and persuasive front throughout, when much of the time his blood must have been boiling.
Although I am a dyed in the wool Tory - and a big Cameron fan - I still have a great respect for Tony Blair. He transformed Labour at a time when they were totally unelectable; yes Iraq was probably a mistake, but it's easy to criticise the decision in hindsight. If Saddam had continued in power and committed a few atrocities we would all be complaining why no one took a stand when they had the chance.
In the way of all great leaders, like Thatcher before him, the faceless talentless ones always eventually turn and kill the goose that laid their golden egg. Does anyone seriously think that Brown would have won the election back in 1997? It was Blair who made it possible for him to take power today.
In politics (as in business) momentum, once created, is a great asset - but it's only possible for the free ride to last for so long. It will be interesting to see how long Brown can ride the wave that Blair created for him.
Saturday, 30 June 2007
Why Products Fail
Since writing my blog below about Peter Jones' new show Tycoon, I set up a Google Alert which has since sent me every online piece documenting - in excruciating detail - the failure of Peter's latest TV project.
When you are entrepreneur just starting out, at least you can mistakes (and there always will be mistakes!) in private, whereas we 'Celebrity Entrepreneurs' are always under the full and often embarassing glare of the media spotlight.
Although I actually feel for Peter, having been through my own very public 'media meltdown', nonetheless it did prompt me to think about what makes a great product (whether that be a TV programme, or any other creation out of which you intend to make money).
When the Dragons were first approached by the BBC and introduced to the talented producer Martyn Smith, who had been commissioned to create the concept for Dragons' Den, I think we all expected an X-Factor type show in a studio at White City.
Instead we were sent to a desolate warehouse in one of London's less safe suburbs, sat on mis-matching chairs in a bleak set and had no real instruction on what was about to unfold.
But when the first series of Dragons' Den was aired back in January 2005, it was clear just from watching episode one that the BBC had a hit on their hands. Although it was quite raw and the entrepreneurs weren't brilliant, to me that first series was by far the best - it had a great energy; the Dragon egos had not become bigger than the Show itself and the entrepreneurs were truly desperate for funding and support - not just after a free primetime TV ad.
In short, Martyn Smith threw out all conventional TV wisdom - and took the risk to create something briliantly innovative and original, which would change the way business TV programmes were conceived forever. And the BBC has been milking the formula relentlessly ever since (in fact, some would say the cow has long since run out of milk).
The reasons why Dragons' Den was such a success are exactly the same reasons why Tycoon - and many other products like it - failed.
Playing safe and following what others have done before may seem like a solid option to achieve success, but in business it is actually often the riskiest approach you can take.
When you are entrepreneur just starting out, at least you can mistakes (and there always will be mistakes!) in private, whereas we 'Celebrity Entrepreneurs' are always under the full and often embarassing glare of the media spotlight.
Although I actually feel for Peter, having been through my own very public 'media meltdown', nonetheless it did prompt me to think about what makes a great product (whether that be a TV programme, or any other creation out of which you intend to make money).
When the Dragons were first approached by the BBC and introduced to the talented producer Martyn Smith, who had been commissioned to create the concept for Dragons' Den, I think we all expected an X-Factor type show in a studio at White City.
Instead we were sent to a desolate warehouse in one of London's less safe suburbs, sat on mis-matching chairs in a bleak set and had no real instruction on what was about to unfold.
But when the first series of Dragons' Den was aired back in January 2005, it was clear just from watching episode one that the BBC had a hit on their hands. Although it was quite raw and the entrepreneurs weren't brilliant, to me that first series was by far the best - it had a great energy; the Dragon egos had not become bigger than the Show itself and the entrepreneurs were truly desperate for funding and support - not just after a free primetime TV ad.
In short, Martyn Smith threw out all conventional TV wisdom - and took the risk to create something briliantly innovative and original, which would change the way business TV programmes were conceived forever. And the BBC has been milking the formula relentlessly ever since (in fact, some would say the cow has long since run out of milk).
The reasons why Dragons' Den was such a success are exactly the same reasons why Tycoon - and many other products like it - failed.
Playing safe and following what others have done before may seem like a solid option to achieve success, but in business it is actually often the riskiest approach you can take.
Tuesday, 26 June 2007
Alpha Females
Congratulations to Management Today for profiling the 'Top 35 Women Under 35' in this month's issue - but shame on the Sunday Times this week for labelling them 'Alpha Females' !
I've met several of the ladies on the list and can categorically say that they are 180 degrees opposite to the old fashioned 'Alpha Male' breed of businessmen. Yes, they are all focussed and determined - but the similarity really does end there.
Women tend to go into business through passion for what they do, not for profit. But ironically, it's that same passion - to sell great products, give fantastic services and create unforgettable experiences - that gives these 'Passionpreneurs' a formidable edge over their Alpha Male adversaries, who are typically much more interested in making money than in the customers who spend it.
Women who create businesses from the heart also create a really positive flow of energy - so vibrant that you actually feel energised in their presence - an energy which magically seems to attract the right people, as well as an abundance of opportunity. Speak to any Passionpreneur about their entrepreneurial journey and you can't fail to notice that amazing coincidences and synchronicity always seem to feature vividly in the mix.
Yes, there are still a few hard faced 'Alpha Females' out there, trying to prove they can be 'as good as the men' - in their navy pinstripe skirt suits and black stilletto uniforms.
By contrast, our Passionpreneurs are successful while still being feminine, and also run their business with tremendous ethics and integrity, realising that relentless pursuit of profit at any cost can no longer be the sole business driver in the 21st century .
Which magnetically attracts customers like bees to honey.
And given that 80% of consumer decisions are now made or influenced by women, it would seem that the time is ripe for our Passionpreneurs to show the men a thing or two about what it really means to be successful in business.
I've met several of the ladies on the list and can categorically say that they are 180 degrees opposite to the old fashioned 'Alpha Male' breed of businessmen. Yes, they are all focussed and determined - but the similarity really does end there.
Women tend to go into business through passion for what they do, not for profit. But ironically, it's that same passion - to sell great products, give fantastic services and create unforgettable experiences - that gives these 'Passionpreneurs' a formidable edge over their Alpha Male adversaries, who are typically much more interested in making money than in the customers who spend it.
Women who create businesses from the heart also create a really positive flow of energy - so vibrant that you actually feel energised in their presence - an energy which magically seems to attract the right people, as well as an abundance of opportunity. Speak to any Passionpreneur about their entrepreneurial journey and you can't fail to notice that amazing coincidences and synchronicity always seem to feature vividly in the mix.
Yes, there are still a few hard faced 'Alpha Females' out there, trying to prove they can be 'as good as the men' - in their navy pinstripe skirt suits and black stilletto uniforms.
By contrast, our Passionpreneurs are successful while still being feminine, and also run their business with tremendous ethics and integrity, realising that relentless pursuit of profit at any cost can no longer be the sole business driver in the 21st century .
Which magnetically attracts customers like bees to honey.
And given that 80% of consumer decisions are now made or influenced by women, it would seem that the time is ripe for our Passionpreneurs to show the men a thing or two about what it really means to be successful in business.
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