Lessons for business from the champions by Tim Campbell, Founder, Bright Ideas Trust on 08-Jul-2014

As the Wimbledon tennis just comes to an end for another year, we look back at what Andy Murray must have been thinking at the start as he set his sights on retaining his title. Tim Campbell, Founder of the Bright Ideas Trust, discusses what hopeful entrepreneurs can learn from a tennis champion.

Last year, Murray achieved arguably his greatest life goal by winning the Wimbledon tournament for the first time, making him the first British man to win the tournament in over 75 years and hitting a changing moment in his career. Like Murray, entrepreneurs need to share similar qualities if they are to succeed within the competitive business world. Among these, it is important that they remain focused and headstrong in order to turn their business ideas into a success.

Many people who want to run their own businesses often have their own roadblock, something that prevents them from taking the crucial first step. This is usually down to feeling as though they do not know where to start, or fear of not having the necessary skills or expertise required to start their business. Anyone can have an idea, but the qualities that make entrepreneurs successful is their drive, perseverance and knowledge of the market. If budding entrepreneurs have the following skill set they are more likely to survive in the highly saturated and ever evolving business world.

Focus

Passion is often a key driving force behind many successful entrepreneurs. Being able to do something that you're passionate about is one of the best things about starting your own company. However, it's important to focus your attention on one passion at a time if you're to turn it into a viable business.

I've come across a number of hopeful entrepreneurs who are so eager to move forward with lots of ideas at once that their minds become preoccupied with too many conflicting goals. They become overwhelmed and stressed. Focus is an important first step as it will allow you to narrow down your ideas and concentrate on one that will most likely be successful.

Training

Training for a professional athlete requires aching muscles and perspiration. An entrepreneur needs to train just as hard, but in the art of market research and building networks and connections.

Research is often considered an unnecessary, academic exercise, but it is crucial for reaching your goals. Think of it as:

• Getting to know your customers;
• Understanding your competitors;
• Predicting the things that might actually stop you from succeeding;
• Making valuable connections that could prove to be invaluable when you launch your business.

Competitiveness

We're constantly being told that the UK job market is a competitive backdrop for any budding entrepreneur hoping to start their business. Whilst it's important to avoid confusing it with arrogance, a competitive attitude can be integral in ensuring your business can rise above its competitors.

Always wanting to improve is an important quality for any business mind as without it you risk being overtaken by new entrants in your market. To be successful strong-mindedness and constant observation of your opponents and their strengths and weaknesses will allow any entrepreneur to stay ahead and win.

Agility

Just like an opponent who varies their serve from one game to another, the business landscape is constantly changing; with customers' and clients' needs shifting and new competitors trying to take those customers away. In order to keep up, it's essential that your business is able to monitor these developments and respond to them quickly. Business agility is a strength that all start-ups and small businesses have, but which they can easily lose as they grow and take on staff.

Perseverance

'Winners never quit and quitters never win.' That should be the motto for any hopeful entrepreneur. It's easy to lose focus and motivation at any sight of a setback or obstacle. There is never a guarantee of success; especially when it comes to starting a business. However, as Murray proved when he won the title, perseverance can pay off. It's important for an entrepreneur to stay positive in the face of challenges and to use those lessons positively.

The key to having a successful business isn't just about having a great idea; it's about perseverance and unwavering belief in that great idea, learning from the setbacks and trying again with a revised strategy and game plan.

For more information, please visit: www.brightideastrust.com

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