4 survival tips start-ups can learn from Bear Grylls

posted by 3 years ago in Tips
Bear Grylls

A staggering 8 out of 10 start-up entrepreneurs fail within the first 18 months, according to Bloomberg. So what can be done to avoid the pitfalls that blight so many promising start-up enterprises?

British adventurer Bear Grylls is quoted as saying “The rules of survival never change, whether you’re in a desert or an arena.” What about in business? Here we take inspiration from a true survivor…

Watch out for snakes…

It’s not just in the wilderness that these beasts exist! Make sure that you have the right business partner and team working alongside you. Use your contact book when recruiting and don’t make any rash decisions when taking on new staff. Consider enlisting the support of a business mentor who can offer you the benefit of their experience. The Federation of Small Businesses offers advice on where to find a business mentor.

Survive the storm…

If setting up in business was plain sailing, then surely more people would take the plunge? Accept that there will be factors, sometimes out of your control, that may jeopardise your hard work. Weather-proof your business for all eventualities. Whilst you can’t predict everything you can build a sturdy shelter by making sure you are aware of news, policies and legislation that may adversely affect your sector or individual enterprise.

Weather the icy conditions…

It’s easy to get carried away with investing more into your business when the going is good, however it’s sensible to have money put aside for a rainy (or icy!) day. If this is not possible (it isn’t for many start-ups and small businesses), then make sure you are fully aware of your funding options including alternative finance.

Be brave…

As Bear Grylls is quoted as saying “Being brave isn’t the absence of fear. Being brave is having that fear but finding a way through it.” As a start-up entrepreneur it’s likely you’ll have to constantly challenge yourself in situations and areas of expertise that may be out of your comfort zone. However, if you’re up for the challenge, aware of the dangers and savvy enough to tough out the bad times then the rewards can be immense. Good luck!