6 Reasons Why Capital Raising is a Bad Idea
I realise this article may be controversial, but I don’t care. I’m sick of thinking it, saying nothing and then seeing the consequences of my non-action over and over again. I’ve had enough. So here goes…
There seems to be an unhealthy obsession right now, particularly among young entrepreneurs, to “raise capital” to fund business growth. Proponents of this method typically site examples such as YouTube, Facebook and Instagram, followed by saying, “They did it and so can you”, almost as if these entities are an everyday occurrence.
For every YouTube, Facebook and Instagram, there are thousands of others that raise capital from investors and even family and friends only to have their businesses blow up in their faces….
5 Business Lessons from Gordon Ramsey
I don’t watch a lot of television, but when I do, I like watching something that is both entertaining and educational. One such show is Kitchen Nightmares hosted by the infamous Gordon Ramsay.
If you are not familiar with the show, Gordon, one of the world’s best chefs and restaurateurs, goes into a failing restaurant with the goal of turning it back to profit for the owners within just five days.
Having watched a bunch of episodes, I discovered that they all pretty much follow the same formula. The formula has five steps and you can soon see these principles are universal and can be applied to any business….
Stop Sending Email Newsletters, Now!
Looks like my headline has grabbed your attention? There’s a powerful teaching point in that, which I’ll get to in just a sec.
For now, let me get to the point: if you are distributing email newsletters, stop doing them now! Why? Well, I can give you five reasons right now:
1. Attention Span
Think for a moment about the state people are in when they are checking and clearing their emails. You have micro-seconds to grab their attention as they process whether to keep or delete your email newsletter. What normally happens is this: they will open it, scroll down to see how much there is to read and if it looks like too much, they’ll hit delete and move on…