Jackie Fast

HR Strategy

JACKIE FAST | January 11, 2021

Much like the true reality behind the lives of Insta-glam influencers, it is an entrepreneur’s livelihood to portray that they have it all figured out, otherwise why buy their autobiography. Don’t be fooled, more often then not, they are facing uncertainty just as much as you are – they are just experts and making it work for them rather than against them. The truth is that the rate of change is increasing exponentially – so fast in fact that it is predicted that in the next 25 years, we’ll make four times the progress we saw in the 20th century alone. Unless you have a crystal ball, it is impossible to predict whether your business idea will still be relevant in even 5 years’ time or be taken over by robots. As such, to be a successful entrepreneur in today’s fast-moving landscape, you not only need to get used to uncertainty – but ideally find a way to make it benefit your business. Calculating Risks Before you take the leap into the unknown, it is important to be as prepared as possible. Entrepreneurs who are just starting out have the luxury of the internet and it is now possible to research your business idea from the comfort of a local Starbucks. Do your research. If you think your next start-up will elevate you to Elon Musk status, review competitors, understand expected revenues by using Companies House, and gain feedback from trusted friends and family. If you are still onto a winner, then canvass strangers who work in the field or own similar businesses through LinkedIn. You’d be surprised how far a cup of coffee or a free lunch will go to pick their brains about the industry you are about to launch into. Just Do It Research is critical, but one factor that you cannot predict is your execution and what you bring to the table. No one can prepare you for running your own business therefore if you think you’ve got a great idea, have taken steps to ensure its viability, then stop wasting time and take the leap. Far too often I see great ideas remain just that, great ideas – with would-be entrepreneurs failing to take the leap because of uncertainty only to see their great business idea crop up a couple years later from someone else. Being an entrepreneur isn’t just about spotting great opportunities, it’s also about having the courage to take them. Learn to Adapt The world is changing and what once worked a year ago, may no longer work now. Therefore, it’s important to be open-minded in the process of becoming a successful entrepreneur. If market research told you that your product would fly off the shelves but end up collecting dust in your parent’s garage – rather than bury your head in the sand, look at what has gone wrong and remedy it. The advantage of being an entrepreneur is the flexibility to forge your own destiny. If you fail to adapt your business as it grows with things you couldn’t have foreseen when you wrote your first business plan, then you are not capitalising on the benefit you have over large corporations – being nimble. So get used to uncertainty, not only do you need it, but it will help you succeed!

HR Strategy

JACKIE FAST | January 11, 2021

When you set out on a new path, whether that is a new career or starting a business, there are a million things to do and very little time to do them in. As such, most people revert to what they are good at, which typically means the stuff that they like to do. The more you do something, the better you get at it. Conversely, at the beginning of a start-up you tend to shy away from the things you are least good at, and the things you hate. This is why many people, including myself, love the beginning of a new challenge because you are just doing fun things that you are good at. Growing in this way, however, is detrimental and eventually you will stall because you have not been putting time into all areas of the startup or new career you need to. With this in mind, it becomes impossible to grow to the ambition that you are after. Doing things you don’t want to do is not just part of a start-up or launching into a new career, I’d argue it’s one of the most fundamental elements to success. The longer you put off the areas you hate, the longer it will take for you to truly become a success. When there are areas of the business you aren’t strong at, you have two options: 1. Hire someone to do the work 2. Fake it till you make it   1.Hire Someone My first question for anyone who is self-employed is always “do you have an accountant?” and it shocks me how few do. This is the one area where I hugely encourage you to stop what you are doing and go find one. The huge amount of time people waste working out their accounting is often overlooked in terms of the value that could be gained if it was time spent growing the business. Don’t waste precious time, find a cheap accountant who can help you with the basics. There are other areas of the business where you could hire people to support, but often the lack of funds in a start-up makes hiring people of true value worthwhile. Therefore, for everything else, I recommend you fake it till you make it (read my tips on faking being excellent at sales here).   2. Fake it till you make it I have been singled out as a good salesperson, especially during my time on television as a candidate for The Apprentice (UK), but I can promise you it wasn’t always so. I used to be incredibly nervous if I had to speak at any event and would be quite uncomfortable picking up the phone to someone I didn’t know. However, when I set up my first business Slingshot Sponsorship in my bedroom in 2010 it was truly sink or swim – I quickly realised that if I didn’t sell my services, I wasn’t going to make the rent. It took years of practice and years of forcing myself to do things I wasn’t comfortable with, but I eventually honed my skills into a personal sales strategy that works and can be found in my Amazon bestselling book PINPOINT.  The same can be said about marketing, branding and business. Read as much as you can about the subject, following competitors to see what they are doing, and try and mirror what works. Eventually you will come up with your own style and your own process, but you’ve got to start somewhere!