June 18, 2015

Reason for envy

You have founded and grown a company. You think you did everything right.

You hold your head high. You are looked at with envy. As someone who has been successful. Congratulations.

If asked by a reporter, most probably one of the below choices will be your answer to the typical question:
a) You’ve worked hard
b) You understood the market
c) Your strategic vision was correct

In summary: you did it.

When I talk with successful company owners who want to sell their business, I also ask them the typical question: why do you think you are successful? And having usually received one of these answers I tell them what I think to be the real reason: they were lucky.

In the UK there were 346,000 business start-ups in 2013, and 238,000 business failures as reported by parliament.uk.

Go ask those who are closing down. All of them have also worked hard; many of them understood the market and had the right vision. Some may have failed through lack of business knowledge, but the others? They were just unlucky.

If you are selling your successful business, please do not brag about yourself; get prepared. And hope that your luck continues.

For those of you interested in UK figures: Business statistics

Oldie of the week: Duran Duran – Save A Prayer (1982)

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