It’s been a busy start to the year so far. It’s nice to see businesses that I’ve been talking to and getting to know for a number of weeks, months (or in some cases years) reach critical points in their business lifecycle in either starting new ventures, seeking and raising funding or selling their businesses.

I’ve been privileged to work alongside and advise these businesses across all of the above scenarios in just the past week alone and have sought to put them in the best possible position (and side-step any potentially expensive business balls-ups!).

Having the benefit of working alongside and advising growing entrepreneurial businesses every single day allows me the benefit of spotting latest trends and recurring issues which in turn allows for practical hands-on advice to be passed on – in nearly all cases aimed where possible at ‘prevention’ rather than cure – as digging businesses out of holes that they have inadvertently created is normally a whole lot tougher (and more expensive) than getting things right from the outset.

This is where a good relationship with an accountant who is familiar with your sector can help. Even if it’s just to meet up for a coffee and chat. There’s no need for this to be overly formal or regimented. We’re here to help.

If you’re in the digital, tech or media space (or simply an ambitious business with BIG plans) then please get in touch. It costs nothing to have a chat. I would love the opportunity to show how we can help.

I like the idea of turning our natural inhibitions about selling products or services on its head – so rather than tentatively seeking a ‘Yes’ from prospective clients or customers, instead how about focusing on becoming a collector of ‘No’s’ (or should that be ‘nose’ )?

Approaching new business generation from this perspective suddenly becomes a whole lot more fun. Your aim now is to meet as many people as possible to talk about their problems and issues and to see if you can interest them in saying ‘No’ to your offer of assistance. You become more natural and less pressurised in your approach and more focused on understanding the needs and interests of the people whom you meet. A win-win.

So how many ‘No’s’ can you collect this week?

Lunch at Mojos in Rhosneigr, Anglesey is always a treat.

I think all businesses could learn something from from this superb little cafe.

Mojos captures the following key principles of all successful businesses:

1. Focus on your strengths
Mojos serves crepes. Sweet ones and savory ones but not a whole lot else besides. So they are good at making super tasty crepes. In fact, you’d be hard pushed to find better crepes this side of France. The evening menu has a choice of two main courses – a beef or a sea bass dish. That’s it. But they are equally excellent. Keep it simple.

2. Have a story
Alex, who co-owns Mojos, is a former kite-surfing champion. When he’s not teaching kite surfing or scuba diving to catch fresh bass for that evening’s dinner guests, he helps serve whilst his partner prepares the delicious food in the centre of the cafe. Not your average eating establishment set up.

3. Be unique
This is no copy-cat, run of the mill mundane high street cafe. The food is simple yet special and to top it all the cafe is named after Mojo, the cafe dog. Cartoons of Mojo adorn the menus and he occasionally graces the cafe, when he’s not wandering around on Rhosneigr beach – normally waiting for Alex to come back into shore from a stint out kite surfing!

Follow these simple principles and you too should be able to tap into your business MOJO.

With the rise of technology infiltrating all aspects of business, it could be easy to dismiss the future prospects of traditional businesses. To swap ‘bits’ for ‘bytes’.  

If you sell music or books from high street retail shops, then this pessimism may be justified given the ease of delivering such products in digital form – itunes, Amazon Kindle (bytes) versus HMV and Waterstones (bits)….

But what if it was possible to build a business in bits that could compliment a bytes businesses?

Think what ebay has done for shipping and postage companies – from a few selling to many, we now have many shipping to many via ebay and Amazon Marketplace. New postage, mailing and courier companies are surfacing to meet this increasing demand. 

The challenge now is for traditional ‘bits’ businesses to project forward to how their business might look as digital ‘bytes’ businesses, and to seize the first mover advantage or to look for complimentary services to keep on delivering the bits service in a bytes marketplace. 

In a nutshell, to provide complimentary bytes.       

Luke Johnson, serial entrepreneur who runs Risk Capital Partners, gives a good summary of what it takes to be successful in business. Recommended reading. (His columns in the FT usually are).

I would add one further trait that I see in all entrepreneurs who make it:

It’s that glint in the eye. A steely determination. Listening yet displaying an overarching knowingness. Some might call it passion. It is. But its more than that. Its a level of commitment that transcends all. Like the bridges back to perceived safety and comfort have been burnt and there’s no turning back. “This has got to work – or if not this one, my next venture will.”

Nothing beats the energy and excitement of working with and being in the company of entrepreneurs.

What key traits or attributes would you add as contributing to success in business?

Photo credit: Paul (Dex)