Member Article

How to be a successful entrepreneur in 2018

Rumour has it that Sir Alan Sugar started out in the business world by selling electrical goods out of the back of a van. In the past, hard graft and determination were two of the main attributes to becoming a successful entrepreneur. And though both of those things are definitely still needed, in the current and future economy, becoming a successful entrepreneur takes a different type of out of the box thinking.

Take, for example, the opinion dividing TV show Dragons Den. Famously, some of the most successful products to come out of that show are things that seemed so whacky and unusual that the Dragons turned them down. Trunki was one – plastic suitcases that children can sit on at the airport. Turned down by the middle-aged entrepreneurs on the show (despite several of them being parents themselves), the company is worth over £4 million. Levi Roots is another example. His BBQ sauce was rejected on TV, now he’s an inter-disciplinary business man. Not only is the sauce a household product and stocked by all major supermarkets, Levi has turned himself into a brand: today he’s worth £35 million.

This goes to show that even some of the world’s most successful businesspeople can sometimes make the wrong call. To the mind of a person who made their fortune 30 years ago, these products probably seemed ridiculous. I wonder what would have happened if some of the UK’s successful young entrepreneurs had been on the judging panel. How would a millennial version of Dragons Den play out?

Perhaps we need more young business successes, like famous Entrepreneur Carl Silverstone. Today he is the founder of Alpine Studios, but his past endeavours have involved some very creative projects. In 2011 he created and aired audio drama Hello London. Made up of real life telephone conversations, the drama followed the trials and tribulations of a group of young Londoners. Think, Made In Chelsea but for radio. In fact, the similarities were so striking that when Made In Chelsea did air later the same year, people assumed Silverstone must have been behind it.

There are many ways to become an entrepreneur in 2018, but when the world feels like it’s seen it all, creativity and courage are going to be just as important as grit and hard work. Importantly, young entrepreneurs are learning that having fun with work is important. Gone are the days when we’d follow mantras like ‘Work to live, don’t live to work.’ Now, it’s all just life, and having a good time with what you do is a major part of making a success of it. After all, if you don’t love your business, how do you expect other people to? In 2018, fun sells. Creativity succeeds. And the young entrepreneurs are here to take over.

This was posted in Bdaily's Members' News section by Terrel Watkins .