Is there a fail proof recipe for success in starting a new business?

Posted by Bennie Groenewald on 09 February 2018.

Bennie Groenewald

LLM Tax Law, B.Proc, HDip Tax

The Tax Shop Head Office

More about Bennie Groenewald

After having qualified and practiced as a Commercial lawyer Bennie worked in the Banking and Financial services industry for 25 years across multiple market segments in South Africa, Sub-Saharan Africa and the UK, the last 14 years of which in senior and executive leadership positions. During this time, he dealt extensively with cross-border banking and finance including project finance, asset finance, debt capital markets and derivatives, including the legal aspects thereof. In recent years, Bennie has played an active leading role in investment, credit and risk management as well as sound corporate governance.

But then finding the right “ingredients”, a good and well-tried recipe together with the effort that it will take, can turn an opportunity into a successful and sustainable business. The fact of the matter is that one has to be aware that there will be many ups and downs that one goes through, on the way to success.

Over the next few weeks I will share a series of top tips of how to grow your business.

Despite what people believe, the real secret begins with your mind. Growing a business is a test of will and as with so many entrepreneurs, at some point you will be confronted with the struggle for survival.

Bill Gates, the writer Stephen King, Henry Ford of the Ford Motor Company, Colonel Sanders of the well-known KFC and Thomas Edison, the inventor of the lightbulb, just to name a few, have all failed before succeeding.

Your success depends solely on your mindset and only a positive attitude will get you through the ups and downs.

It’s up to you.