The biggest personal challenge and what I suspect most people endure in start-up business is creating an idea and surviving through establishment stages to enjoy the rewards and spoils.
Personally, my first 10 years included many
failed starts for a variety of reasons, especially with my earlier ventures within
the entertainment industry filled with speculation alongside fast paced music and fashion
changes, the combination proving to be a deadly cocktail. Without fast turn around and an influential network
to collaborate and execute, the chances of a successful outcome was largely
reduced. The difficulty would multiply from the early 2000’s with the rise of
piracy and free digital downloading. Much of the industry and personal friends
of mine would endure huge financial losses leading to highly publicised job
losses and company closures, including many well-known international
brands. Some of us at an indie level
were left pondering what viable future if any existed in a declining industry.
Regular informal meetings with lateral
operators such as Carl Gardiner (former head of Mushroom Marketing), Tony Polzella at JPR Business Group and a few others inspired my train of thinking to
evolve.
The
simple questions:
What
is my product or service, detail creation to sale flowchart and analyse
viabilities?
Who
is my clientele and have I taken the time to really appreciate their general
habits for my business to communicate and engage?
What
are my weaknesses and strengths and those of my environment who collaborate
with my business?
What
is my clear point of difference amongst my competitors?
In essence the initial answers provide an
outcome but they also provide answers to researching intended market, capital
raising, resources, operations, marketing, promotions, networking, projections,
affiliations and strategy required to evolve and detail your business plan from
a successful outcome to its raw beginnings.
This exercise in most cases uncovers flaws
in your desires, provides factual risk assessment and encourages further
research and brainstorming before commencing or abandoning a business, project
or campaign.
In essence, “Starting from the end!”.
My
Final Thought!
Self-evaluation can be both productive and
humbling at the same time, carried out with honesty can be much more rewarding
to your work and home environment. In my case, my lack of willingness to not
progress my business model was creating a “me 2” and “me 3” outcome. The mere
fact that I loved writing and recording from an early age with modest results,
didn’t necessarily justify a viable future.
Reading published books by Richard Branson only confirmed my weakness;
my passion and my business path were not evolving in tandem.
The progress and evolution of your
environment will not cease, but it’s you
who can provide an exciting path to be the evolution for your environment to
consume.
Marcus Knight
Director - Generation Entertainment Group Pty Ltd
Director - Generation PR
Co-Director - Dinomedia Pty Ltd
Marcus Knight
Director - Generation Entertainment Group Pty Ltd
Director - Generation PR
Co-Director - Dinomedia Pty Ltd