Is the government doing the right things to change the failure rates of start-ups?

Whilst the word on the street is that 8 out of 10 start-ups go bust within a few years, the real data is harder to find. What is true is that the majority of start-ups fail over a period of years. An RSA research report found that 55% of start-ups in the UK fail within 5 years. These slightly more positive figures are probably more accurate. It may well be that the government is too excited

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“Evidence” is key for entrepreneurs

As an entrepreneur it is very easy to be enthralled by your product at the expense of everything else. But it is critical to remember that “evidence” is key to success and making proper traction. By evidence, I mean something that forms the basis of long-term sustainable advantage. This isn’t necessarily just revenues or users, although it may be. It is likely to be: Customers / users who state that they value your product over the

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Is debt your friend or enemy?

As an entrepreneur, is debt a “badge of honour” or a “daily cashflow nightmare”?! For some entrepreneurs living in debt is a demonstration of success. It is all about the monthly burn rate and your ability to manage that and over time reduce it and deliver break even, before moving into the sunny uplands of positive cash flow. This is all about speed and the importance of being able to invest in product development, market

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Win an award for your business

If you’re a start-up today then you should be pitching for awards and “free” funding. The start-up world has never had so much free money being thrown around as there is today. You may say that it’s an unhelpful diversion to be trying to complete laborious online forms to apply for yet another award that hundreds of similar companies like you will be competing for. But don’t forget the different types of value that come

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Entrepreneur’s block

As an entrepreneur do you ever run out of ideas? Do you ever get “Entrepreneur’s block”? I normally have far too many ideas and get excited about lots of them. But I am learning to respect the concept of the “billion pound idea” now above everything. It’s too easy to have any old idea and start a business. It’s way more difficult to scale that business unless the market opportunity is very significant. I was

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No fear of failure

I recently spoke at the Entrepreneurship Guest Lecture Series at UCL on the subject of “No fear of failure”. I had 3 key points to make, which i think are so critical to entrepreneurs. The first is that “Fear of failure” is a massive motivator. If you aren’t scared then you are missing a trick. I use the fear of running out of cash as a powerful force to make me challenge my own business

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