The First Year
Ashdan Consulting’s Managing Director, John Johnson reflects on the first year of business.
“Now that the 2016 Christmas festivities are over and Ashdan Consulting is about to celebrate it’s first year of business, I thought that I would share with you half a dozen things that I’ve learned over the last 12 months. Hopefully, some of this may be of benefit to anyone else thinking of starting their own business in 2017:”
- “You must go all-in! If you are not willing to use all of your savings, if needed, and to risk everything you have in order to build your business, then don’t do it in the first place, as a half-hearted approach is destined for failure.”
- “You’ll find out who your friends are! No matter how many good relationships you think that you have built up over the years, don’t think that most people you know will help you – the sad reality is that they won’t. However, some will and you must make sure that you go out of your way to let them know how much you appreciate their support. Return the favour by giving them a priority service and a discount.”
- “Maintain a balance: Don’t feel guilty about going for a game of golf on a Friday afternoon, as there will be times when you are in the office on a Sunday afternoon!”
- “Keep the faith: Believe in yourself and your product, particularly during the times when you have no work – resilience is essential.”
- “Cash is king! Get invoices in on time, and think twice before incurring costs – only spend what is absolutely necessary. Try not to chase opportunities with long payment terms – better to have less coming in quicker than potential additional income that you spend forever waiting for, or chasing “
- “Three strikes and you’re out! Recognise that others are busy too, and may not respond to your communications straight away. That said, if anyone has failed to reply after three attempts, then forget them – they are not interested, so move on, as you can’t afford to waste time trying to force their hand. Take the view that it is their loss, and keep positive!”
I hope this helps, and good luck with your new venture!