Start-up Advice
SIN #4 TRYING TO GO IT ALONEPART OF THE BUSINESS Rob Brown
Business coach and author of How to Build Your Reputation: The Secrets of Becoming the Go to Professional in a Crowded Marketplace.
“Entrepreneurs are by their nature strong personalities with big ideas and big egos. They take risks and are often too narrow-minded to see the need for help from others to ensure their success. Engaging good coaches and mentors to accelerate progress and eliminate mistakes is often last on your list of ‘must do’s’. This independent streak mistakenly leads you to think you can do it alone without help, support and accountability. But all of the top entrepreneurs who have ‘made it’ will tell you it’s a lonely enough road to travel without the right people alongside you for the journey.
“Coaches and mentors can be the biggest friends for entrepreneurs. Getting around the right people for guidance, support and accountability will accelerate progress, avoid costly mistakes and fast track entrepreneurial success. If you can get beyond your independent, pioneering streak as an entrepreneur, and overcome your big ego, then leaning on and learning from others will be the best thing you do to build your brand and your business.”
SIN #5 FAILING TO MAKE TECHNOLOGY INTEGRAL
Ingrid Vanderveldt Entrepreneur In Residence, Dell
“Putting technology at the centre of discussion can be a huge competitive advantage for any company. My first company was a data mining/data analytics company using neural networks to create real time personalisation for the web (and earning me my first patent). Without a strong technology infrastructure straight out of the gates, I wouldn’t have been able to build my companies. While my businesses were rooted in the tech industry, you cannot ignore the impact that technology can have on the success of any business.
“Whether you’re just starting out, and going for your first round of funding, or are expanding into new markets, technology can keep you steps ahead of the competition, allow you to scale your business rapidly, and even get to market faster. When Dell worked with Pensions First Analytics they were able to design and deploy a secure, high-performing and reliable production and disaster recovery site within a four-month time frame. Just years after launch, PensionsFirst started to change the way firms defined benefit pension risks and the company has since broken into the US. Many high-growth businesses today are only using technology to support their day-to-day business needs and not fully utilising it as an integral part of their business and marketing strategy. There is no one-size-fits-all approach or easy answer on what to invest in first. It’s about understanding the long term goals of your business and using technology to get you there.”
37 entrepreneurcountry
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