So you've had a great idea for a business. You've done your research and you've set up your home office. But now what? How do you make it through year one? How do you make it to years three and five without becoming just another statistic on how many companies fail within their first years of trading?
Under these various conditions of uncertainty, we come across the ‘window of opportunity’.
Getting a product to market can take a long time. Ensuring its robustness, trialling it, researching markets, and gathering resources are all long-winded processes so…
It's often difficult for an entrepreneur to know the right time to hand over the reins of their company.
There's certainly no shortage of company founders who claim to have been unfairly ousted from the role of CEO of their own company by their investors. However, a transition in the role of the company founder does not have to end in tears, many entrepreneurs successfully manage a change in leadership, both for themselves and their businesses.
The rates of work related stress in the UK have remained flat for over a decade (HSE 2016). Long working hours continue to be...
Here is a sample of our magnificent alumni, a cross-section from the BGP’s long history which has seen more than 2,300 owner-managers complete the programme, recounting their different experiences of the BGP and the unique benefits to themseves and their businesses.
With family businesses still accounting for 70-95% of the commercial enterprises in most countries, just 30% of EU-based family businesses survive to the next generation (according to trade association European Family Businesses). This is fairly consistent across the developed world, which means, statistically, just 1% will progress from the fourth to fifth generation.
More than half of business start-ups fail after four to five years, and of those that survive only around 4% become successful. One of the aspects that distinguishes these entrepreneurs from the competition is their approach to strategy.
Successful entrepreneurs tend to embrace rather than reject corporate strategies, and they will often trade off or tone down brash entrepreneurial behaviour for a more civilised approach. This results in a strategy with a winning formula for entrepreneurs...
In my opinion only one of them truly understood early stage business and the leadership credentials it takes to run one. That was Cranfield. I am not saying that Stanford and LBS were not excellent schools but they were almost entirely run by academics and attended by academic business people too.