Pheonix Nest

Do you have a business idea?  Need Investment?  What do you do?

BBC2's online Dragon Shaf Rasul offers expert advice, and provides a check list of what you must have before approaching any investor.

I strongly believe that there are opportunities amidst the current economic conditions if you fully believe in your product and are prepared to put in the hard work and dedication required to make a success of your business. It is also crucial that you listen to people’s advice, even if you don't take it.

You can certainly learn some entrepreneurial skills; so I believe millionaires can be made as well as born.  In my opinion a little bit of talent can go a very long way!  You have to be bright, creative, reactive and alert to opportunities that will allow you to grow your business into new markets.

The key commercial considerations about setting up a new business as follows:
•    Do you have an idea that will appeal to a market that you can define and then reach?
•    Do you feel passionately about that idea and the fact that you can do a better job than the people already serving that market?
•    Are you prepared to work extraordinarily hard to get the business started and thriving?
•    Have you got or can you get the skills and experience for the actual job you are going to have to do.
•    Can you get the funds necessary to start the business up?
 

In deciding how much to charge for your product or service, the first key is to make sure you are charging enough to make a good profit.  Don’t forget that the profit you make on a deal has to make a contribution to all your costs and overheads, as well as paying for the direct costs of the product. The second key is to make sure your pricing is competitive.  If you give first class, reliable service you might be able to charge a premium and risk not being the cheapest bid. But, customers and prospects will be looking at more than one bid, and you have to think about handling price objections.

I believe I have the ability to think outside the box; spotting, for example, opportunities that others don’t.  I take risks that no one else would even consider and get the benefit of that basic business principle – the higher the risk the higher the return. Some people say that I was born to be a millionaire. However I believe that I was born to be an entrepreneur and along the way I made a few million.