Monday, 27 January 2014

Business Tip of the Week No. 2

This is the second piece of advice from our guest blogger - successful business man - Ed O'Neill from the NE Language Project.

Top 2: Never, ever, ever give up


Chief cook and bottle washer 

Being the master of your own destiny by running a business or being self-employed or freelance is probably the hardest thing you will ever have to do. You need to be your own marketing, finance, human resources, sales and training departments. It can all be too much at once. Success will only come to the brave who struggle on in the face of adversity. Those who survive are those who don’t give up - simple.

Be a success not a statistic

Over 90% of new businesses fail in the first 5 years, over 90% of those that get over the first 5 years eventually fail. What do you think is the biggest reason for these failures? Before reading on think of a few reasons why a business might fail.

 Is money the route of all problems?

The number 1 reason for business failure is not lack of money, lack of knowledge, a supposed recession, the competition, the ‘economic climate’ (whatever that is!), the banks not lending, customers being difficult, suppliers being difficult etc. etc. 

You need to love it!

In fact, if you have considered the problem for more than 5 seconds then you may have guessed that the number 1 reason for business failure is that the person behind the business just loses all motivation and gives up. 

No banks, climates, competition or customers involved, the person behind the whole thing basically either gets burned out and loses all motivation or other projects/jobs begin to take priority and the business/self-employment fizzles out like a dud firework. Shame that, make sure you’re not another statistic/dud firework!

 Guest Blog  Ed O'Neill from the NE Language Project. 

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Take care,

Dom O'Neill

What is The MYOB Show?

The Mind Your Own Business Show (MYOB Show) is a British talk radio programme. We help you succeed in business and live the dream as your own boss! We are the most honest and realistic show dedicated to giving you all the info you need to succeed in your career. MYOB Show is on the AM dial of your radio & online as an on-demand talk radio programme. The show is full of useful tips, discussions and information to help folk like yourself adjust to life after the 9-5.

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