How to Avoid becoming a Business Failure Statistic

How to Avoid becoming a Business Failure Statistic

Carrying on from the previous post, (if you haven’t read it, here is the link) I discovered that there was a demand for my skills as a business systems analyst. I soon signed up a major international Corporation to analyse their parts production plant. I set up an organisation, hired a couple of my old colleges and offered a bespoke systems development for clients who had previous experience with us. 

You might already have realized that this operation was a desperate attempt at overcoming my previous disastrous effort at breaking free.

We had some success, even though it was hard hours. Some testing could only be done when the processing for the day had been completed, which meant working until after midnight. We grew weary and grumpy with each other, so decided to hire another programmer. He also brought with him some of his clients so we quickly grew again.

We were approached by our previous employer (see the previous post) who said they were launching a new computer series and would like us to do some of the systems development for their prospective clients. I said that we had no expertise in this new machine. They said that they had trained about 30 of their own people to develop programs for this machine. We could recruit from this pool as when we required more people. The management had decided that they would only support the hardware that they sold and would withdraw from offering development services to their clients.

At a management meeting, we decided that this would create a gap in the market that we could fulfill with management procedures which we had developed in our business so far.  With the agreement in place the clients started rolling in at the rate of one a day!

We had no idea that the demand would be so instantaneous. We had to rapidly employ people to meet the demand. I was tied up getting instructions from the new clients and developing programmer specifications at the rate of one a day!

We also had to develop a standard specification so that everyone in the business understood the requirements. This enabled us to get new programmers on board at a rapid rate.

So, this sounds like a great business, what were the problems. We were arrogant and too proud to seek advice. We should have agreed with the equipment suppliers on a pricing model, because we grossly under-priced. And eventually this would create cashflow problems.

We were still basically trading our time for money. This is not a business, as you cannot even take a break without effecting your income. There is also no forward planning, as every equipment series is eventually replaced and becomes obsolete.

A major international credit card company had approached us to develop a new system for them, but only on another manufacturers equipment. They said that their research found that we were the second largest Software House in the country. The largest was totally involved in Government systems and was not available. We said that we also could not help as we had no time to let our people go for training on a new machine.

 We also had an approach from the largest manufacturer to develop for one of their ranges. They offered free training, but again we could not find the time to let people go on the training. This was a classic catch 22 situation.

In retrospect this was a classic case of requiring a re-structuring and re-capitalization of a business with this kind of potential growth.

Now I would like to recommend a course of action which will avoid all these mistakes I made.

With the training I am going to show you, will allow you to spot these kinds of problems and no what to do to a). avoid them and b). how to remedy the mistakes to get on track to your chosen lifestyle.

First you will be taken through a series of 21 Videos of roughly 30 minutes duration. This course will guide you into an understanding of the overall picture of everything you need to consider when starting out. The second course will get down to the more specific choices you need to make to select the ideal business model for you specifically.

Covering :-

1.)    How to start and grow a business

2.)    Choosing the right business to suite your skills

3.)    What it really means to be an entrepreneur.

4.)    Scaling a business to making it successful

5.)    Why you want to start. What is your end game?

6.)    Unlock and leverage your profit making skills.

7.)    What are your strengths?

8.)    Choosing your $1Million Niche

9.)    Design and build your business model

10.)        Choose your winning product and offer.

This just shows you the level of detail the course guides you into.

All the while you report to your coach on your progress and can ask for advice one on one. This is really the MBA of Internet marketing. 

You will also attend Mastermind events in luxurious resorts where you will interact and form partnerships with fellow students.

I could go on all day. I have not found any system that comes close to matching this, so go ahead and click the link. Start your trial today.