Get on with it

And, I mean this in two senses.  Firstly, if you are young, inexperienced and poor, you have an edge.  It probably doesn’t feel like it but being young means that you have time and energy for starting and growing a business, inexperience brings a fearlessness only possible without the scars of failure and being poor means that you have little to lose.  It’s not going to be easy or straightforward and despite your best intentions, you will make mistakes but the earlier you start, the more likely that you will eventually build a successful business.  The longer you leave it, the more that competitive edge will start to evaporate.  

Secondly, there will always be a reason to delay and those reasons will only expand and intensify as you grow older, get a mortgage, have children and climb the corporate ladder.  People will tell you that it’s too early or too late or too difficult or has been tried before.  As they did with me.  

For many years, I dreamt about starting a business and was full of doubt about whether or not I could do it.  In truth, I was badly ill-equipped to start an ecommerce company because whilst the internet was taking off in the late 90’s, early 00’s, I was working for The Florida Tourist Board and had virtually no exposure to the internet or a trading company.   I knew nothing about web design, booking engines or payments.   I didn’t know anything about FX or hedging.  I had never acquired a customer or heard of SEO or PPC.  I had never employed anyone.  I didn’t even properly understand the difference between a balance sheet and a P&L.  I didn’t have any supplier contracts and I had no money to fund the business or contacts to help me raise any funds. 

But, I was bored and the thought of remaining in corporate life, working for someone else thoroughly depressed me.  So, I did five things.  Firstly, I thought about what I knew about and what sector looked as if it could do with a shake up.  I had worked in Orlando in 1996 as a holiday representative selling theme park tickets to incoming tourists so I knew that I could do that effectively.  Furthermore, the pre-purchase attraction ticket sector in the UK had one dominant market leader who distributed through travel agents.  Secondly, I wrote to my dad and asked if he would lend me £20,000 to start a travel business selling attraction tickets.  He rather reluctantly agreed and certainly didn’t expect to see that money again.  (I paid him back within 6 months).  Thirdly, I asked a contact at Universal Orlando whether it was possible to get a contract to sell theme park tickets.  They agreed, which was fortunate because very soon after that, they tightened their distribution policy considerably.  Fourthly, I sat quietly on a bench by The Thames on a beautiful Spring day and contemplated.  Could I take the disappointment of failure if the business didn’t work?  Could I ever forgive myself if I didn’t try?  Did I back myself to have the desire and belief and to put everything into it?  There are no definitive answers to these questions but once I stood up from the bench, I knew.  Not just that I should do it but also that it would probably be successful.  I don’t know whether everyone could reach this level of confidence but some quiet reflection before you embark on the chaotic early years of launching a business, is well recommended I think.  So, finally, I quit my job and started writing the content for my brochure and website.