Entries from March 1, 2006 - April 1, 2006
BOB's First Inspirational Quote
BOB's first ever inspirational quote was supplied by Steve Schroder - the latest Dynamis recruit. Steve says it's from Hungary and it goes like this:
"In business, the believer is happy; the doubter is wise"
I had to think about this for a few minutes - is it better to be happy or wise? Then I concluded that good business people have to switch between the two before making a conclusive decision and sticking to it. Well... so goes the theory...
Reaching The Tipping Point
It's impossible to conduct business without having Malcom Gladwell's Tipping Point buzzing in your head.
His ideas are as infectious as the subjects he explores. Trends, products, crime even suicide will spread through society like a flu epidemic - given the right combination of circumstances. It's a marketeer's guide to alchemy.
The book was lent to me by a little-known marketing guru called Matt Price (a former strategic planner turned copy-writer). He puts the book into as many hands as will take it. Gladwell would describe Price as a Connector (a pollinator of ideas) and a Maven (an evangelist collector of valuable information). If you want your ideas or products to spread like a virus you only need a hundred or so Matt Price's working for you - for free and for the shear love of it.
Marcus Markou
in 91.The Diary of an Entrepreneur, 4.Growing a Business
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Franchise Video Stars
Yasmine and the FranchiseSales.com team are taking the buying of franchises to a new level with the launch of a video service on FranchsieSales.com, allowing Franchise advertisers the ability to play their recruitment videos online. Click here to view
Marcus Markou
in 2.Buying a Franchise
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Advantages of Buying a Business
There is no shortage of bad news when it comes to the number of new businesses and start-ups that go bust within the first few years of operation. According to UK bank Barclays, 25% of all new businesses fail within their first year.
The good news is that some of these often-quoted statistics – like the one that says 90% of all restaurants fail in their first 12 months – are simply not true.
However, the real test for a new business is whether it’s still trading after five years. It is generally accepted that only 20% of start-ups make it to their sixth birthday. That is why buying an existing business, as opposed to starting one, is a great way of improving your chances of success.
Buying a business is neither complicated nor rare...
Marcus Markou
in 1.Buying a Business
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Starting The Right Business
Finding the right type of business to start is often a journey in itself, and, a very crucial one at that.
It is estimated that over one in four people who wish to be their own boss don't actually know what type of business they want to run.
Also, a significant number of people change their minds half way through the process when they discover a business type to be unsuitable.
Many business brokers and agents report that people often end up buying a different business from the one that originally led them to their door.
It means that researching the right business is a fundamental first step. Often, entrepreneurs learn that they are more suited to a business type they had never considered before.
Here are three handy tips from BOB on starting the right business...
Marcus Markou
in 3.Starting a Business
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The 10 Most Memorable Businesses For Sale
At Dynamis, we love BusinessesForSale.com - and not just because it's one of our most successful titles. Apart from the fact that it pays for our mortgages, shopping bills and for our babies to attend Gymboree classes, we are all constantly amazed by the weird and wonderful business opportunities that become available for sale.
We've had haunted museums, brothels (legal), snail farms, hip replacement suppliers, film studios, fancy dress shops... in fact, if you can imagine it, it's probably already been for sale. Of course, we have your run-of-the-mill bars, hotels, restaurants, convenience stores too.
Here is a list compiled by the Dynamis team for BOB of the 10 most memorable businesses for sale (in no particular order of memorableness)...
Marcus Markou
in 1.Buying a Business
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A Sir Alan Sugar Fax
I found myself laughing out loud on the train home last night. A small diary piece in London's Evening Standard recounted the story of a Sir Alan Sugar fax to a Chinese video manufacturer. According the Standard, it read: "Dear Ching Chag Chong, we received your video. It is shit."
Sir Alan Sugar's PR man was quoted in the story saying: "There was no fear of Mr Ching Chang Chong misunderstanding exactly what he was saying. His use of language is very explicit, but he has this real ability to communicate."
Marcus Markou
in 91.The Diary of an Entrepreneur
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