Posts Tagged ‘business start up’
(Extract from article BR Dowling)
1. Some people just don’t want to…great no issue, being an entrepreneur is not the be all and end all. The majority of people who work for themselves work extremely long hours just to get by. Many many others try and fail. Unless you are an extremely unbalanced individual most of us know that the ultimate goal is to lead a happy and fulfilled life during our short allotted time on planet earth. What is a happy and fulfilled life is for each and every one of us to define for ourselves. It is ones of life’s great gifts that we get to set our own standards and goals the fact that many people choose badly and end up miserable is outside the remit of this article. The fact remains that your family, peers, colleagues and every dog on the street may be telling you that fulfilment lies in money/ fast cars/ high profile promotions etc. You are free to decide that for you its flip flops a surf board and enough cash to get by. Screw them it is your life…if you can achieve true happiness for the majority of your life you my friend are the real winner in this silly little game.
2. The Fear Factor…. Given that you are reading an article like this you probably are not surfing at the moment, so you think that you want a crack of the entrepreneurial whip. Ok then. The Fear Factor holds more people back from starting their own business than probably anything else. The old ‘what if’ deamons have caused millions of would be entrepreneurs to turn back and walk away from the scary dark edge with its lurking dangers and uncertain hidden treasures. For its sheer ability to slay ideas and dreams the fear factor remains the number one reason that people do not give it a go.
3. People are lazy…..Sad but true may people would kind of like to be successful but will never make the effort to actually make it happen. It is so much easier to talk about doing stuff and to wait ‘till the time is right’ than to actually go for it. If you are in this category please take the following advice. Admit it to yourself!!. By giving up the game you will take the pressure off yourself, focus on something else that you enjoy and get on with your life. This may seem harsh but it is a case of being cruel to be kind. There is a window of opportunity in everyone’s life to start their own business, this is not age specific but for every Colonel Saunders who founded KFC in his sixties there are hundreds of people who put themselves financially and physically at risk at a time in their life when they should be looking to retirement. There are exceptions to every rule but being successful involves being smart and realistic.
Important note: beware the disgruntled would be entrepreneur, this is a dangerous breed that will be full of stories about how they nearly invested in this or that that would have made them a fortune. They nearly patented some form of widget that would have been a runner etc. Avoid at all costs, they will have nothing positive to say about your plans but will be able to tell you how they tried ‘something like that’ and it didn’t work out. They will hate to see you succeed, you don’t want to be around this kind of energy.
4. People lack personal confidence and therefore (they think) the ability to run a business. A lack of personal confidence will kill the entrepreneurial spirit in those afflicted by it. It undoubtedly has other negative implications on their life but again these falls outside the purpose of this book. Entering the battleground of business with little or no personal confidence or self belief is as stupid as it gets. Sort it out…life is too short.
Founders: Stephen Dillon
Staff Numbers: 4
Date started: June 2009
Tell us what your business does?
www.corkage.ie is a supplier of wines for weddings primarily but also for any special occasion or function. We also provide information about the whole topic of corkage, food and wine matching etc.
Where did the idea for your business come from?
The idea came about after several requests from friends and family for advice on wedding wine. I have been interested and involved in the wine industry for years. Many of the people who conatcted me were not happy with the price and quality of wines being offered to them by hotels, venues etc. They were looking for better quality and more choice and were smart enough to realise that by organising your own wine you can save a small fortune and give your guests better wine.
Have you always wanted to run your own business?
Yes. In addition to corkage I also own an off licence and previously an internet cafe.
What planning did you do before you started up?
I did a lot of research on what hotels were charging for corkage and requested copies of wine lists. As I am already in the trade I had a good idea of what they were paying for the wines on the list. The difference convinced me that there was an opportunity to give people an alternative choice.
How did you raise the money?
Luckily the website did not require much investment. I found a great web developper who got the site up and running very quickly (www.complex.ie). Much of the required infrastructure for the business was already in place from the off licence. Raising money for the off licence is another story!
What challenges have you faced how have you overcome them?
The economic downturn was obviously a major challenge. The whole wine industry in Ireland is under massive pressure at the moment. The government raising VAT last year just as the UK government dropped their rate sent lots of people shopping up north particularily for big purchases like 200 bottles of wine!. This also created an oppoprtunity as we were able to buy lots of liquidated and bin end stock from hard pressed suppliers in the south. This meant we could find great ‘clearence’ lots for our customers. On one occasion we sourced a wine that normally sold for €20 per bottle for well under €10.,
How have you promoted your business?
Most promotion has been done through google adwords, although this can be expensive you do get pretty instant results once you use the right keywords. I have also linked up with a number of wedding websites again this reaches the target market.
What has your growth been like?
Growth has been steady, we started by supplying wine to people we knew, slowly word started spreading and enquiries and visits to the site are growing every week. We also offer free delivery and a sale or return service this has definately helped sales.
What’s the impact on your home life been like?
There has been no major impact on home life as I have been doing long hours in the off licence already. I have enjoyed updating the blog and checking the number of hits on the site. Compared to retail web based business is a dream!