Understanding , balanced , financial

Male , 49

I am very interested in the work of PRIME and thought I would sign up as a mentor. I live in London and have worked all over the UK & Europe but primarily in the capital. Brought up by a Scottish mother after the death of my father, my four siblings and I had a start with a steep learning curve. I was encouraged to work hard at school and became well educated, taking me into work with a bank. (does that suggest good education?) I married 24 years ago and my wife and I have dealt with all the world has to throw at us with the loss of parents, in my case two nephews and serious illness. Fifteen years ago I decided to leave banking and set up my own business, advising others. Since then I have set up other ventures and helped many clients to do the same. My experience in business as first banker then an entrepeneur helps me greatly. Now I want to help others in the form of mentoring in technical areas and personal questions that occur that maybe no-one is aroound to help talk through.

Business Start Up

I have advised many people in thirty years of business to start an enterprise. A new business means an enormous amount to the owner. Whatever reason has driven the idea there is excitement, dread, fear and many more emotions. So often words from an outsider with a similar experience can be incredibly valuable in the short and long term. Nobody knows everything, we all have to realise that the more knowledge we have the stronger we will be in the event of problems and when things are going well. Why when things are going well you may ask? How well did HBOS and RBS deal with their expansion???

Planning

Everyone will have heard the phrase "You don't plan to fail, you fail to plan". If said too often it is thought of as a cliche, but beware. No business has ever succeeded without careful planning. If you are thinking of a change, expanding, borrowing or selling act on an impulse and you could regret it. Being of a certain age, trying a new opportunity and running a business alone needs thought and direction. Plan it and life will seem so much clearer.

Stress

Stress can be a massive draw on your business. On the wrong day the smallest annoyance can cause stress and slow you down. You are not the only person to be affected by stress and if you hear someone say they don't suffer, they may need help for denial. Learn to deal with it, don't ignore it! Work through it with a third party and the problem can seem much smaller and be dealt with before real trouble bubbles up to boiling point.

I came across this idea whilst investigating what can be done for a client who is starting afresh. The information on PRIME made me think I could give something to those setting on a new trail at 50+, using my knowledge and experiences. The work I do and the personal considerations I have encountered during my business life could be used by others Just to be able to get an unbiased view could be of massive benefit. When I started I had to go to pubs and restaurants for a willing ear! OK not all bad.

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