Doing Business in 2018

Back in the day, a mere 20 years ago, we all knew what a business was, roughly how to set one up and what had to happen for it to be seen as viable and successful. Today it's not so straight forward and opportunities are open to everyone. 

Yes it’s also to do with technology and being able to create a start-up with £100, but what does it all mean to:

 - those of us who started our businesses in the last century going forward?

 - those of us who haven’t got a business yet and want to get one going

 - and those of us in either category who are desperate to be very successful in business?

We all remember people who have created iconic brands like the 15 year old who started his magazine empire by borrowing £300 and working out of a church crypt that the local vicar let him use. Today Richard Branson heads more than 200 companies and has been knighted. 

And as you read the last paragraph were you distancing yourself from the content? Something like… he was lucky? He was in the right place at the right time? or He must have been born an entrepreneur. (And I’m different).

There is a great deal of evidence to suggest that doing business today is the most opportune in the history of human kind. Anyone, anywhere can set up a business and following a few simple rules can make a profit quite quickly. In time, like watering plants in a greenhouse, the right cultivation can produce fruitful returns.

Let’s start with an example.

Mary Woodgate decided to start her own on-line business given her children were at school and he other half was working in a full time career. She didn’t know anyone and wasn’t sure how to start. Twenty or more years ago she would have resigned herself to forgetting about her dream of owning her own business. However this was 2015 and she began by going to amazon.co.ukthen typing in ‘How to start your own Amazon business’. It was a long shot, but she realised for the princely sum of 99p she could instantly download a book on the subject and start reading… which she did. It also suggested what products to sell and where to get them from. These products were nothing exotic, just things that people regularly buy…

All in all, it was much simpler than she ever imagined, and after a few short weeks she was up and running without consulting anyone else. Today she makes approximately £5,700 profit a month and her only concern is the gradual rise in turnover and being able to cope single-handed!

One man from Finland was writing an article on Bitcoins when the idea first emerged. He invested the equivalent of $28 purely as an experiment in seeing how it all worked in practice. Then promptly forgot all about them. Recently he retrieved the coins and was stunned at their value of $800,000 plus.  You could do something similar and start your own on-line business, purely as an experiment. If you already run a business, you could still do this purely as an experiment.The thing is, if you can do it successfully and make say £10 profit each and every month, don’t you think it would suddenly become much easier to focus on increasing that figure?

Another elderly couple in Bournemouth have set up their own business what makes around £500 profit after tax each month. They set it up with simply one goal in mind - as a supplement to the state pensions so that can have an expensive meal out every week…

Doing business or more business in 2018 is an exciting prospect, whoever you may be and where ever you live. It starts with finding out more and the good news is that we will be looking into this in greater depth later this year at the Late Late Breakfast.

Author: Glen McCoy