The U.K Fiery Businessman & Star of The ‘Apprentice‘ TV Show “Sir Alan Sugar” shares with us a little advice in Business and his Top 10 Success Tips he lives by. He may not be a role model for all as his style of management is often considered “out of touch” and negative, the proof is in the pudding with this as Alan Sugar’s Business Empire grows to a Net Worth of 1.14 Billion to date.
Watch these Videos & Read on for the valuable advice that can only be shared by one of a kind, “Sir Alan Sugar“.
Alan Sugar’s Keys To Success
LORD ALAN SUGAR – Business 101
LORD ALAN SUGAR – Business 101 – Pt2
ALAN SUGARS TOP 10 TIPS FOR SUCCESS
1) Only set up in a business you know something about. You can’t just wake up one day and think you’ve come up with the best thing since sliced bread if you’ve got no experience in that area. It may be an industry you have been working in for years or a hobby you have.
2) Research your market thoroughly. Make sure that there isn’t something similar on the market already. Why would anyone want to buy something from you if it’s already out there?
3) Listen to experts in the relevant industry. Don’t ask friends and relatives for their opinions – they will only tell you what you want to hear just to be nice to you.
4) Draw up a proper business plan. You will need this to show you know where you are heading and you understand the market. It will help to make others take you more seriously.
5) Take things one step at a time. Don’t try to run before you can walk. Start small. Get it right and then grow when you’re ready for the next step.
6) Be prepared for lots of setbacks. Not everyone will be as enthusiastic as you are, but if you really believe in your idea and you have the determination and passion you will succeed.
7) Find a niche. It doesn’t always have to be something brand new. There’s not many things that haven’t been done before – just come up with something better or a better way of doing it.
8) Don’t expect the banks to throw cash at you. You have to put your money where your mouth is and prove to them that you are prepared to take a major risk, like remortgaging your house. If you show them how seriously committed you are, then they will be less hesitant to cough up.
9) Get advice from lots of different sources. From small business advisers at your bank to organisations such as Business Link, The Prince’s Trust and Shell LiveWire.
10) Be realistic. You may think you’ve come up with a great idea, But will anyone really want it? Do they really need it? Is it cost-effective? Is it practical to produce?
Sir Alan Sugar Quotes:
You’re a lightweight. You’re fired.
I can tell you where every screw, nut and bolt is in my company. I know everything [in my business]. Never, ever, underestimate me.
There’s only room for one bigmouth in my organisation, and that’s me.
Once you decide to work for yourself, you never go back to work for somebody else.
Learn to read body language.
From his book The Apprentice: How to Get Hired Not Fired
The shareholders are looked after by me. And they should be very thankful. I run Amstrad as if it was my own. They get their accounts every year, their profits and dividends. And if they don’t like it, they should sell their shares. But I’ll run my – the – company the way I want to. Not the way some twat in the City wants me to.