Just finished this book over the weekend. If you are looking to set up your own business, a creative, or just someone interested in removing yourself from the constraints of corporate life, this book is a great read. Loved it.

Hugh just says it as it is. Life is tough, creative freedom hard to find but, all of us have a chance of being able to express ourselves and we are fluffing it if we don’t. Seth Godin comments “A work of art, a brilliant insight, a book that will change your life.” I’m not sure it changed my life, but it is full of grounded wisdom supported with fabulous cartoons! You can catch more of Hugh’s work at www.gapingvoid.com

It’s easy to get trapped into doing everything. After initial start up, you’ll get dragged into all sorts, particularly if you can’t say no! Then it gets all messy and complicated, something us humans have turned into an art form. Cut to the chase, keep focused on building value and concentrate on these five aspects:

1. A proven track record. It builds reputation

2. Develop word of mouth mechanisms that reinforce your track record. Keep marketing costs low by adopting this strategy. Creates credibility.

3. Continuously grow your skill base, knowledge and understanding. Become an influencer in your area of expertise.

4. Let your character come through, it’s the only unique thing you have.

5. Identify what you are really good at and thrust yourself into that.

Refresh it, change it, reinvent it occasionally but never stop working on them.

If you are thinking of starting a business, you need only answer one question and truly answer it:

How is my idea distinctly different from the others already established?

If you can’t answer that fine question within four or five bullet points, you’re already in trouble!

Or should that be ripe? Who knows! Anyway, how do you know whether you have what it takes to run your own business in today’s turbulent, innovative, changeable business world? I’ve pulled together an alternative list that would have business advisers, bank managers and accountants cringing!

 If you are right for running your own business you will see boundless opportunities, whereas, others do only what the boss has told them to do. You’ll relish change whilst people not ready for start up seek order, routine, stability and security. Many small business owners view their talent as a craft, to be worked on over years, constantly improving and refining their skills. Other people wonder  how much pension they will get.

If you are considering start up you’ll be looking forward to personally influencing people, customers and employees alike. If you regularly exercise positional authority, stay in a proper job! Great entrepreneurs build their business based on trust and sincerity, whereas, if you like to control everything, consider something else.

People starting their own business are always motivated to do more and inspire people to push the boundaries. If you think offering incentives to work harder motivates, think about taking up a hobby instead!

Entrepreneurs are always around interesting people, those that are involved in the latest idea, the most innovative of products/services and, are at the leading edge. Others court the ‘old boy’ network, meet with mundane and boring business people and don’t understand the real meaning of interesting.                    

You are known for being occasionally opinionated, or is that passionate, because you have strong views, if you keep quiet and don’t rock the boat, perhaps running your own business isn’t for you. If you are always looking at new ways/ideas and regularly stick your head above the parapet and your colleagues think this stuff is just b*****ks. Yep, go on, get out and start something.          

Finally, if you truly do real work that adds value and the other people around always look busy and work harder than anyone else they know, then perhaps now, is the right time to think about jumping to your own ship.

Obviously there is more to it than just this but, hey, has it helped you make a decision?

If you wanted to learn to ski jump (apart from being crazy) you’d find someone who had already done it. Because your health and, possibly, your life depended on it, you’d get the best. You’d make sure that you took advice and coaching from someone who had actually been through that terrifying feat several times. Known what it was like to hurtle down a steep run not knowing how they are going to land. You’d never ask a lawyer, or, a teacher, or, a bank manager unless they had been through the experience themselves of course.

Your business is a lot like this. Don’t ever take advice from someone who hasn’t been through the white knuckle ride of starting and running a business over the long haul. You are better surrounding yourself with people in business rather than accountants, bank managers, friends and relatives. Its easy to listen to their views, which are often the most subjective you will get and often not the best advice. Encircle yourself with high quality people who know what they are talking about and have the credibility and reputation to match it.

This is a great post considering that it is all about us! Definately worth a read if you work for yourself or are considering it!

http://www.boalt.com/blog/2009/06/why-sometimes-it-is-about-you/

This is a great little video. Thanks to funding universe at www.twitter.com/fundinguniverse for sharing it

http://www.youtube.com/watch?v=T6MhAwQ64c0

Its one of the most significant and important things any aspiring business owner must do for themselves. It’s critical because it literally can mean the difference between success and failure. Not understanding why your business exists is a sure route to a company that lacks the passion and motivation to grow over the long term.

Pre start up is an exciting phase. Its full of ideas, brainstorming, hype and innovative thinking, but ultimately, the wrong idea can mean it never really gets started. The challenge is to start something that will fuel your inspiration. There are millions of (slight exaggeration) web design agencies, jam makers, landscape gardeners, software developers, interior designers, printers, estate agents, coffee shops and consultancies of one type or another. I could go on. The market is flooded and you need your life jacket before you start!

Instead, start a business that taps into your values not your ego. Consider a business that brings out your character not your persona. Be motivated by your passion not money and create something that has true meaning to yourself. Start something interesting. Start something that is going to make a difference to people’s lives.

Most customer needs are being served already. You don’t have to look far to go and buy a book or get your haircut. There are some real business challenges out there that can still afford you a good life yet at the same time contribute to solving some real problems. A start up business that helps reduce poverty, restores the environment, improves the health of others, develops people, and supports the eradication of discrimination. There are many more.

Creating your own wealth alone, we know, does not necessarily provide personal happiness. But making a difference to other peoples lives can, intrinsically for them and you, be a whole lot more meaningful and satisfying. Are you following a fake path or a path of meaning in your new start up?

Reading the statistics on business start up can be a frightening experience if a tad worrying. Statistics show that about half of all new UK small business start-up companies fail within the first 3 or 4 years, a staggering sum. The figures for the US are a little better. The reasons for failure are varied and often unquantifiable, however, what is clear is that business growth is very much down to the self-limiting factors exhibited by the people running small businesses.

Whether it’s cash flow (a sales problem really), or management ability (probably), it doesn’t really matter. The problem is often internal and I mean in the start up owners mind. There are no definitive rules for successful start-ups but perhaps the points offered in the article in the link below may help if you are thinking about starting a business shortly:

http://annholman.co.uk/articles/

The recent financial difficulties will inevitably create new vulnerabilities and new opportunities for business. I don’t think it’s so much about whether setting up a new business in the financial downturn is a good time, it’s whether the market/customers are ready for your products and services.

If the business you are starting is targeting customers who are looking for something new, are in the mood to change their supplier. Or, their circumstances have just changed such as the retired, people moving to a new area, someone in a new job….then you may be onto something. But only if you can demonstrate a difference. If you’re not different then you need to be cheaper!

People who are looking to change, read Fast Company magazine, have just bought a book about new ideas, are exploring new opportunities on a regular basis, are at the latest art gallery opening. These people are far more open to buying from you than people in traffic queues on their way to work! Find them, find the product and service to match them, then you may have a new business with potential. The economic downturn isn’t part of the equation really.