Start up success: Pub wisdom

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David Winch* takes a light-hearted look at the key ingredients of start up business success.

Many, if not most, businesses get started because someone can do something well, enjoys doing it, and can see that others may well be prepared to pay someone else to do it for them. A start up business is a bit like a three-legged bar stool; there are three key elements to keeping the stool (and the business) upright at all times. 

One leg of the stool is the operations side of the business (i.e. the ‘doing’ part, or at least managing whatever the business does). This is usually quite easy for business owners to get to grips with since it’s the reason they started up in the first place.

The second leg is the finances, or at least the management of them. The business own...

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About David Winch

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12th Jun 2010 16:23

Are all the legs the same length?

@David - Interesting analogy.

I’d have suggested the seat is for the client to sit on; the owner of the practice is responsible for making the stool and deciding which bar to put it in, the public or lounge. 

Even though a three legged stool will be stable, the seat will only be parallel and comfortable to sit on if all the legs are the same length.  Most accountants have developed operational and financial skills but are vastly under-developed with sales and marketing.

Because of the recession the floor is a little more uneven than before I’d suggest firms need to invest (time, energy and a little money) to maintain and improve their position.

Bob Harper

Portfolio Marketing

 

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