Over the last 25 years I have had the privilege and opportunity to start, build and ultimately sell two Engineering based companies. As an Engineer myself and coming from a technical background I believe Engineers have all the skills necessary to become natural entrepreneurs, for centuries Engineers have led society to industrialisation and wealth creation. … Continue reading LESSONS LEARNT FROM STARTING, GROWING AND SELLING A SUCCESSFUL ENGINEERING BUSINESS
ON THE BALANCE SHEET
Unless you are an accountant, balance sheets are unlikely to hold any great fascination for you. It is far more exciting to pioneer your company into new frontiers. However, my advice is “Learn to love your balance sheet” nurture it, care for it and watch it grow. Because when you go to sell the business … Continue reading ON THE BALANCE SHEET
ON MISSION AND VALUES
Mission – The mission statement of a company should contain the very essence of your business philosophy. It should not be just a bland statement that gets put in the reception. The mission statement not only defines what the company is committed to become, but “why” it is striving for this mission. The statement should unite … Continue reading ON MISSION AND VALUES
ON RAISING FINANCE
The opportunity to create our first business came through a ‘Management Buyout’ which I will talk more about in the next section. It may well be said that this is an easier option than trying to raise cash for starting up a business from scratch. The deal at the time was a relative small one, … Continue reading ON RAISING FINANCE
ON MARKETING
The chances are that, if you are running your own business, you are fundamentally an entrepreneur and instinctive marketeer. There are as many definitions of the term marketing as there are management gurus. My particular favourite is, “Marketing is the process responsible for identifying, anticipating and satisfying customer requirements profitably”, i.e. marketing is in fact … Continue reading ON MARKETING
ON HUMAN RESOURCES
The talents of your staff as a team are key to the achievement of your business goals. In the early stages of a company these values will be instinctively driven and upheld by you as owner manager. However, as the company expands, and day to day contact with the staff gradually moves further away, it … Continue reading ON HUMAN RESOURCES
