www.ceotodaymagazine.com 39 THE CEO INTERVIEW Stephen Taylor 39 www.ceotodaymagazine.com What advice do you have for aspiring entrepreneurs or individuals interested in starting their businesses? Firstly I don’t believe the often trotted out phrase “It was different when you started and today is harder now,” or the other great life sucking killer phrase “there are so many of those types of business and it is so competitive and the market place is crowded”. There is always room for a great new competitor but you have to ensure your product and service levels are minimally as good as the competition but hopefully far better. Also you need to look carefully at the idea and analyse the numbers, as often businesses don’t fail due to bad ideas, they fail due to lack of cash flow and planning. In this digital age people seem to forget that you simply can’t burn cash forever without a realistic prospect of making a profit. Also if you need investors choose your partners carefully not just based on who gives you the best deal, but look for the best alignment of vision and personalities. Be prepared for no to very little time off, and that means even on a rare holiday you will be working! There is no such thing as success without hard work. Entrepreneurs are always looking for that new idea and opportunity so the mind is always working even if the body is on holiday. “Business has taught me many things, but I guess one core value is to be true to yourself and never compromise your values. “
RkJQdWJsaXNoZXIy Mjk3Mzkz