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

Continue reading »

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

Continue reading »

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

Continue reading »