Seven things you don't need for business growth

No profit, originality or staff? Don’t worry, they would only hold you back

Imagine if the Boy Scouts were business coaches.

You know what their key advice would be - “Be prepared!”

Now snap out of it. You can thank god they aren’t coaching you, as you actually can blaze a trail in business without packing any of the “essential” items in your tool-kit.

Here are seven things you don’t need to get going in business.

Profit

Two words: Instagram, Youtube.

Instagram was bought by Facebook for $1bn, despite never making a profit.

Youtube? Bought for $1.65bn by Google. Not a cent in profit.

YouTube

YouTube

The owners for the two companies? Now stinking rich.

Originality:

“I’ve never had an original idea in my life. I just look at other people’s ideas and execute them better,” Theo Paphitis, Dragon and net worth of £210m.

Money:

You just need one red paperclip.

Confused? It was the story of a guy who swapped his way to the top as he took one red paper clip and eventually got a house.

Talk about getting something on the cheap. You just need to mirror that entrepreneurial spirit.

Qualifications

Richard Branson

For this, just rely on ol’ Beardie Branson and his $4.2bn net worth.

Moving from music into setting up Virgin Atlantic Airways, he defied the odds and got the company to soar. It’s now worth $2.7bn. Yet Branson wouldn’t know how to build a plane.

Of course, he may be passionate for flying but what about the rest of the Virgin empire? Unless Branson, at the helm of Virgin Galactic, is also a trained astronaut.

Staff

The only person that matters is you.

That may sound egotistical but it is true.

They say the only person you can trust is yourself. So what’s wrong about having the most trustworthy member of your “company” making all the deals?

As a one man band, you can sit on your earnings and have to share them with no-one, like a modern-day Scrooge McDuck.

Scrooge McDuck

An HQ

Laptops, smartphones and networks now mean you don’t need a fixed office. Quite literally, the world is your office.

Good press

Few may know Uwe Boll, the German film director. However, those who have seen his films will hardly forget the trauma.

Every movie he has made has come out to near-universal derision. Over 350,000 people have petitioned for him to retire.

He has directed over 29 titles, at a rate approaching 3 per year.

Somehow he keeps going, getting actors like Ben Kingsley and Jason Statham into his productions.

How? Through sheer bloody-mindedness. He took on four of his fiercest critics in a boxing match, and won.

Oh and the fact that he got tax breaks from the German government may have helped.

As a more local example - you only need point to Ryanair boss Michael O’Leary.

He has put his foot in it so many times, but Ryanair is still flying high.

Good press? Totally over-rated.

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