What you can learn from Simon Cowell
As this year's X Factor rejects get ready for climb back down into obscurity, the show's creator Simon Cowell will be laughing all the way to the bank. Gina Dyer unlocks the secrets to Cowell's business success.
While fame and success may be fleeting for this year's X Factor winner Joe McElderry, one man who always wins is Simon Cowell. His production company and television work netted him some £36m last year and he is reputed to be worth £112m. Not bad for an entrepreneur who started his career as a record company post boy.
"From my first day on the job I began planning and scheming my way to the top of the business", wrote Cowell in his memoir. Wherever you start, it pays to think big. Creating a plan of where you want to be in five years time will help you map out the steps you need to take to get there. Having realistic growth ambitions can help keep your business on course.
Cowell got his first break at record label EMI via his father's contacts. It never hurts to cultivate good contacts. If you haven't got influential friends and family members like Cowell, networking groups and industry events are good places to meet others in your field and find out what’s going on in your market. Also be prepared to help out other people where possible – you never know when they might be able to return the favour.