Obsessed by success secrets but ignoring common sense

Sara BlakelySara Blakely, an entrepreneur, was listed as a billionaire on a rich list. She took her product Spanx, body shaping undergarments for women, from a start-up to a multi-million-dollar company.

A fire storm of articles and TV shows dug into her background to find her secret of success. This is what the media do best – simplifying a story to one or two things that are easy to communicate. This results in giving the wrong impression to would-be entrepreneurs and start-up founders. It looks so authoritative in print or on TV but actually only sells a half-truth. Continue reading “Obsessed by success secrets but ignoring common sense”

What does a small business owner need to know about business models?

Plymouth Business Model P5 Business Coupé 1938
Plymouth Business Model P5 Business Coupé 1938 (Photo credit: Wikipedia)

I’ve always been sceptical about business theories because things like a business model are really just a representation of reality not reality itself. Harold Geneen who knew how to run businesses successfully said, “You cannot run a business, or anything else, on a theory”.

The thing is you can theorise as much as you want about what is going to be successful in the marketplace and with your customers but you only really know when you test your theory your business model in the reality of the marketplace. Continue reading “What does a small business owner need to know about business models?”