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williamkid
williamkid aged 63
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3 words

head , above , shoulders

Self description

Male , 63

im a businessman who has experienced adversity in the late 1980's when i lost my property company i have now built a property business back up again and expanded a firm of specialist building contracting nationally via the franchise route, invented a range of uniquw security products which have worldwide application and am about to launch that business. I have managed to borrow successfully all year but i am not without the property problems once again due to unsold properties and banks' tightening of credit but due to my previous experience I can draw upon i think i can survive this time. I believe my dual adverse and successful record is of real benefit to others. In the last turn down I turned to drink to help this is partly why i failed but now i have been sober for 18 years so that problem has gone now. I am in a stable same sex relationship and that has helped too. I like the challenge of adversity.One can usually see other's problems more clearly than one's own !

Life experiences

starting again

a bit of relevance here in todays climate but my new start was 16 years ago. You need to remember you have earned business experience and adversity is not always a total negaitve.
Dont forget thta no matter how downcast you beocem you can gteoff the gorud again but you must persist and try again. Do not let the do do gooding adivce of others put you off especially those who have never tried or been in business before. Believe in yourself and get on with it.
Walk first then walk more briskly but dont let it run away with you again.Keep on and persist and you will get there surprisingly quickly. Go back to the business you knew if you can do that as that is useful experience to learn from previous mistakes.
Be wary of debt and banks. They do not understand business or the psyche of business people after all they have never been in that position themselves. use your early warning built in radar you now have to not lose it again when you do succeed.

Building a new company

It may be easier to buy a franchise ! But that would not suit the real entrepreneur ! It may get you there quite quickly and teach you many things but it wont be as exciting as starting your own thing and making your own mistakes.
Business is about risk taking and overcoming obstacles it is the drug which fuels the true entrepreneur. The reward is to be creative and build your own baby. As a none family man my business is my baby. If you have a real one though it may be better to stick to the safe boring and narrow of working for someone else or buying a franchise. If you do buy a franchise listen to the franchisor as he knows more about it than you - at least initially.and you have paid him to do that too.
select your business and work out a business plan. Would you sail a boat without a compass ? Most plans are only of any value when they have been updated and revised as you go along building upon the day to day experience so after year one that for year two will be much better !

consolidating your plan

once you have established yourself try to keep it ! you need to use your business plan to iron out weak areas and revise strategy to keep what youve got or you will lose it through becoming idle and too fat with overheads. Talk to others learn from them as business is a lonely route. The bad and good experiences of others can guide and inspire you.
Most business problems are surprisingly similar and sharing such experiences can help others to avoid mistakes and to identify success or the route to that.
Learn how to delegate and use the skills and expertise of others. Dont lightly if at all part with equity in your firm you will learn to regret it. But sometimes part of a bigger cake is worth more than the whole of a small cake ! Hire the best you can afford don't forget paying the best man is easy because he will earn his living while making you more money than others would. Dont worry about borrowing money its easier than many people think . But dont forget its got to be paid back.!

Why mentor on horsesmouth?

Man does not live long enough to learn eveything so shared knowledge in libraries, the interent and data collection helps medicine, government,all apsects of learning, society generally, the arts etc etc. If man lived say to 1000 years he could experiment and learn a lot more ! But as he does not we have to convrese with and learn from others. This interaction and pooling of knowledge and exchange of information helps man to form civilisation. Therefore it follows that pooling of information and experience helps business too. Some do not always learn. Business takes no prisoners.you can be out of business very quickly and suddenly almost without warning and then it is too late except to start again - not always the bad thing it sounds though. Negatives always turn into or reveal a positive. The sharing of information can be rewarding. You can see the problems of others better than you can see your own thus the mutuality of helping others helps everyone including yourself.

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