9th March, 2016 No Comments
How many of us have failed at something during our lives?
Well, the only true answer is all of us. Some more spectacularly than others, but each and every one of us has failed at something or other. But do we ever shout about our failures or freely discuss them with friends, families, colleagues or business associates? Some of us may, but most of us certainly don’t. It’s just not very British!
Maybe it is time to follow the American philosophy, where failure is embraced and seen as a positive.
“Only those who dare to fail greatly can ever achieve greatly” Robert F. Kennedy
Of course, constant failure will never result in success! However, it is important to learn from our mistakes; understand the reasons why; and move on with our business ideas.
The most successful companies in the world have experienced failure but instead of disappearing with their heads down, they embrace their mistakes, develop their ideas and bounce back. How can we learn if we don’t make mistakes?
Richard Farson and Ralph Keyes, authors of ‘Whoever Makes the Most Mistakes Wins: The Paradox of Innovation’, say, “We’re such a success-oriented culture, but think what we need is more failure. Improvements only happen when you try things differently.”
History is littered with stories of businesses and individuals who have turned failure into success. For example, it is said that the world famous Jacuzzi whirlpool was invented for arthritis sufferers, but failed to take off. It was then re-launched as a luxury item and the rest is history. Likewise, it is reported that Microsoft spent many years working on a failed database called Omega which resulted in the development of the most popular desktop database, Microsoft Access. Similarly, JK Rowling was an unemployed and depressed single mother who never thought she would make it anywhere. She spent night after night in coffee shops working on a novel about wizards, and describes herself then as “the biggest failure she knew.” Ultimately the way she embraced her failure formed the foundation of her incredible success. The list goes on and on………
Of course, not all failure should be seen as success. Careless, mindless, or malicious acts should be acknowledged and dealt with appropriately.
We need to remove the stigma from failure and see it not as the end, but the beginning.
“One who fears failure limits his activities. Failure is the only opportunity to more intelligently begin again.” as Henry Ford so eloquently said.
Written by Carole White, Chief Executive, TEDCO Business Support
If you have a business idea but are worried that it may not be the success you think it could be, take some encouragement from these words from Carole. You should also take advantage of any help, advice, and support that is available to ensure your business idea develops into the firmest of footings upon which to build a business. Contact you local Cavendish Enterprise partner to discuss the business support available to you.
3rd March, 2016 3 Comments
If you’re starting a business, networking with the right contacts in the correct way can be crucial to becoming successful. Networking isn’t about making a quick sale it is all about building long term relationships with other businesses that allow you to offer your services and experience to one another and reaping the rewards further down the line.
This blog post will be giving you five benefits of networking letting you know what it can do for your business as you look to take it to the next level.
1. Opening of opportunities
Networking can really help when starting a business. Joint ventures, client leads and partnerships are all brilliant ways for you to gain new experiences and skills. Ultimately these opportunities will all go a long way to expanding your eventual client base.
Though networking can be extremely beneficial, it’s also worth mentioning that you should be wary of approaches from certain businesses. Making the wrong connections and jumping into business with everybody that offers you an opportunity isn’t the right way to go, so don’t make rash decisions and always ensure you consider your options and conduct extensive research into those who you are considering to build trustworthy relationships with.
2. Sourcing the right connections
Sourcing the right business connections is a brilliant way of solving many of the problems your business may encounter in the start-up phase. The phrase “it’s not what you know, it’s who you know” couldn’t be truer in business. Businesses that are more experienced in a particular area may be able to help your business out in new, unfamiliar and difficult situations. Having somebody to call upon in times of need is extremely beneficial. Ensuring you return the favour or letting the business know how much you appreciate the help is vital in maintaining these types of relationships.
3. A word of advice
Taking advice from the right people can be crucial in business. Gaining advice from like minded business owners who have had similar experiences can be very helpful indeed. If a business is slightly further down a particular path, which your business is planning on following, they may be able to offer you advice that could save you time, money or other resources.
4. Gaining referrals / increased business
Receiving a recommendation can go an extremely long way when making a decision about most products and services. Of course, that is if the recommendation is coming from a reliable source. Gaining from referrals can increase your business success dramatically. If you are referred or recommended to another business from a business that you have networked with you will then have the opportunity to make this referral a client. Making a referral a client means permanently expanding your customer base, meaning you will be establishing a solid foundation for your business.
5. Stimulating creativity
If you are running out of ideas and have hit a wall in terms creativity, meeting new businesses and taking ideas and new approaches from them can be the answer to your problems. Networking can bring new ideas and experiences to your business. By talking to other like minded business owners you will discover the different ways that they do business. Bringing new and different creative approaches to your business will bring fresh ideas which will always have a positive impact.
These are just five of many benefits of networking. There are many more ways that networking will have a positive impact and help open up new opportunities. Attending and meeting businesses at networking events is the perfect way to start connecting with other businesses but ensure you try to talk to as many people as possible and don’t just stay chatting to your friends!
Receive ongoing business support and mentoring through the Start & Grow programme, find out more here.
Written by Tara Gillam, Head of Enterprise, Business West