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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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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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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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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10 things you should know about your business partner before you get into bed together!

People often ask me how you know if you’ve picked the right business partners. Of course the obvious answer is that you have no bloody idea, and even when you think you do, you can still get derailed by the most unexpected things! But there are certain questions that you should ask yourself. Then at least you have a damn good chance of not screwing it up. These are emotive questions. After all this will

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Time is on my side

I  have been meaning to write for days, but I have just been crushed by too many “To-do’s”. I am damned good at multi-tasking , but shit, I really hate the feeling that time is roaring by and I am not getting enough done.  It is a constant bloody worry. But I am not alone. Most entrepreneurs’ worry incessantly about this. The truth is that every entrepreneur worries too much about this. It’s not as mission critical

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A little communication goes a long way

Twice in the last week I have been waiting for a business partner to do something and confirm that they will do it before the deadline. Twice they have failed to respond or communicate what they were planning to do until the very last moment. This is so bloody aggravating! In each case they have actually delivered but only after considerable amount of wasted emotional energy on my part trying to find out what was happening. It

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Have a little patience

This blog is all about surviving the highs and lows of being an entrepreneur. I won’t replicate any of the material from my book – Confessions of an Entrepreneur – instead I’ll just pick up other new topics that I encounter along the way. I am going to write it as I feel it. I am going to try to cover everyday emotional issues that I think other entrepreneurs will recognise. I’ll throw my tuppence at it and hope that I can give you

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