See ENTREPRENEUR Series Links

Trevor writes:

Have placed The STAR Workplace Entrepreneur series of Press Articles on these links:

1. Entrepreneurs - SA's New Economic Powerhouses

2. Entrepreneurs Are Not Born, They're (Self) MADE

3. Guidelines For Entrepreneurial Success

Regards
Trevor Nel - 011 - 705-2790 - http://www.innercircleforum.com/
trevor@innercircleforum.com

Just DO It!

10. Way Forward

To sum up: The lessons to be learnt from the previous 9 points are that if we get it right, owning a business and entering into marriage can be very rewarding on a long term basis.

However, we must really work at it - if not the wheels can fall off.

The most important issue is that we must do our homework to ensure we are entering into the right association - if we fail then we must know how to exit - which mechanism must be put in place when we enter the association.

Whatever contracts we enter into we must clearly understand and agree to before we sign

ADVICE 10 -Owning a business and being in marriage can be very rewarding - but there are many pitfalls - the risks are there but the result is very rewarding.

by Bob Power

Plan For GROWTH

9. Expanding The Business

Many businesses flounder when they expand and going from a small business to a bigger one has to be carefully assessed. Likewise in marriage when children come along the whole structure of the marriage changes and problems appear.

ADVICE 9 - Drastic changes in running a business or in marriage can result in many problems where the partners must make major changes

by Bob Power

Beware The WINDOW Dresser

8. Skeletons In The Cupboard - Window Dressing

As stated one does not buy a business until a thorough due diligence examination has taken place - and the buyer is satisfied that what the seller said he was selling is what the buyer is actually buying. The seller will tell the truth the whole truth and sometimes anything but the truth. He will dress up the business to ensure that he can get the best price. In marriage we are inclined to put on a good act to impress our partner - we can overdo it

ADVICE 8 - Whether we like it or not things can change - Love turns to hate may be harsh words but they are reality

by Bob Power

Prepare an EXIT Strategy, Just In Case

7. Have An Exit Policy

When you enter into marriage the anti-nuptial contract defines what happens when the marriage no longer works and divorce takes place. Business is no different - you must have a clearly defined agreement on what happens when you want to exit the business - which usually is in the shareholders agreement.

It is a reality that over time things change and although you may have worked very hard on making the business or marriage to work - the business or marriage is floundering and there is no alternative than to exit.

ADVICE 7 - If the marriage or business is not working and you have tried all you can - you must get out. It is smart to negotiate this at the beginning not when things are not working - not when there are problems.

by Bob Power

Passionately In LOVE With Your Business

6. You Have To Work At It

You have to work at marriage to ensure that it succeeds - in business if you have the passion for what you are doing the rewards will be there. In business you soon find that successful negotiation skills can be very beneficial. In marriage you also have to become a good negotiator.

ADVICE 6- No marriage or running a business is that easy - you must work at it

by Bob Power