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Three Things Every Entrepreneur Should Know

By May 27, 2016 No Comments
Bruce Dickinson on tour

As founder of Cardiff Aviation, a full service aircraft maintenance company, I know from first hand experience that entrepreneurship is a risky business. This is borne out in the well reported statistics that 50% of new businesses in the UK fail in the first five years.

It is easy to blame this failure on the wrong product or lack of funding , but often its just because people don’t realise just how much hard work it is to start a business from scratch and the determination you need to make it succeed.

In my experiences, both within the music industry and aviation, there are three important lessons I’ve learnt that seem to be shared with those that succeed.

1. Understand how hard it is going to be

Understand just how hard it is is going to be, and if the project fails, accept it as part of your learning curve. There’s a reason why it didn’t work, and whilst luck may play a part, it’s usually failing businesses that have the worst luck. Funny that.

Be prepared for long days and late nights getting your business off the ground. Don’t be afraid to try new approaches and look for creative ways to solve problems. No matter how crazy your idea might seem, if it works it works.

2. Know your weaknesses

Conversely, when things go well, know your weaknesses and don’t be afraid to bring in resources to cover them – either personally through education or training, or simply employing someone to help. There’s a fine line between letting costs spiral out of control, and cutting off your nose to spite your face.

Recognise that it’s impossible to be good at everything and that the ability to identify your weaknesses is a key survival tool. Surround yourself with talented people and collaborate with those who know best.

3. Hope for the best, plan for the worst. Always a have a plan B

High levels of risk management and planning are surprisingly common to both rock music and aviation. An Iron Maiden concert may look anarchic and out of control, but somehow the wheels stay on the bus every night! The key is having a great team behind the scenes so that the talent can play in their own sandbox on-stage unaware of what crises may be unfolding backstage.

IRON MAIDEN O2 LONDON --JOHN McMURTRIE

Businesses that don’t plan for and handle crises well very often don’t survive. I’ve learnt that in all endeavours, from flying 747s to performing at rock festivals, you have to be be professional without being cynical, and display a versatility to recover from blows, shift direction or take up a new approach to work through the tough times. Not forgetting to have a bit of fun along the way!

In all cases the adage “hope for the best, plan for the worst….and always have a plan B….” works for me!

To book Bruce Dickinson to speak about his experiences as a member of one or the world’s most iconic rock bands, a pilot and commercial entrepreneur please contact Celebrity Speakers Associates.

Tel: +44 1628 601 411
Email: dave@speakers.co.uk
Web: http://www.speakers.co.uk/microsites/bruce-dickinson

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