There’s a never a perfect time to raise money and never a perfect price.

Entrepreneurs can get overly obsessed with when’s the right time and the corresponding right price for their fundraise. It doesn’t matter whether it’s the first or the fifth round, the angst is just as high. Why is this? Well most entrepreneurs are optimists. They believe that their business is going to be worth a fortune and so they need to get the timing absolutely right, if they’re not going to throw away a lot of

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Love the problem more than the solution

As an entrepreneur, it is all too easy to fall in love with your solution and be blinded to the reality of the market that you are trying to win over. Entrepreneurs should love the problem that they are solving more than the solution that they are bringing. You must really care about the problem. You must really feel the pain of the problem. Then you will be totally wired into your prospective customers. You

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Are you entrepreneur ready? Have you done your safety checks?

“Are you entrepreneur ready?” is a question that needs to be asked more often. If you’re a pilot you don’t take off until you have done your safety checks. The same should apply as an entrepreneur. A number of commentators have listed the key points that entrepreneurs need to think about before they get started. This includes Forbes, Huffington Post and Entrepreneur, but they cover a range of different points in a relatively unstructured way. Too

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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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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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Success and failure

I am looking forward to speaking at the LSE on Thursday on the subject “Success and Failure as an Entrepreneur are essential for Long-Term Career Success”. In the US this is an accepted wisdom. Unfortunately here in the UK, failure is still a taboo subject. Yet while success breeds conviction and belief, It is failure that really generates insight. Great entrepreneurs need both.

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