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Contents
Introduction
Where to Begin
Scalable
Focus
Get talked about
Good people
The mental
What Consultants Won’t Tell You
Income
Expenses
Friends
Consultants
Internet marketing “experts”
Other Practical Matters
The business plan
Legal issues
Dealing with banks
Credit
Partners
IT- Website
Social Media
What Kind of Business to Start
When you are ready to begin
SWOT
No parts of this publication may be reproduced, transmitted in any form or by any means, or stored in a retrieval system without prior written permission of the author (Wayne Walker).
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DISCLAIMER
The advice and strategies contained in this guide are based on my personal business experiences and opinions, and may not be appropriate for your situation.
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INTRODUCTION
My motivation for writing this guide is similar to my other works, where I know from practical experience that you do not need 200 pages to explain to someone how to do something successfully. Being the owner of a profitable business I also know, from experience, that I do not need 200 pages to share the essence of running a business. Many might disagree but I am not concerned with them at the moment. I am a big believer in Gandhi’s quote, ”an ounce of practice is worth more than tons of preaching.”
Wayne Walker (the short version)
For my words and ideas to have more meaning a quick overview of my background is essential. I am the Director and Owner of GCMS, a capital markets consulting and training firm.
This is not an autobiography (I am way too young). The quick version, born in Jamaica, W.I. and raised in New York City to parents who did the best they could with the tools they had. Like many others of their generation they sacrificed so that their children could have opportunities that were unavailable to them and I am forever grateful. I attended university in Buffalo, New York and San Diego, California.
I currently reside in Europe, which is an adventure of its own, material for my third guide. I thought socialism was erased from the planet but to my amazement it is alive and well, giving some people a free ride because they are entitled to everything for “free”.
Prior to starting the firm I was the head of teams of Investment Advisors at Saxo Bank (Copenhagen) one of the pioneers in online investment banking and electronic trading. It was truly a special place to work. Every day was literally better than the day before. People made good and in some cases very generous salaries.
I was the 140th employee in a bank that grew to about 1,500 at my resignation. Needless to say, I saw a lot of new faces. The people I met were absolutely amazing. I still collaborate with many ex- Saxo guys on projects.
We worked hard and played hard. Yes, very long hours were put in but I/my family also gladly enjoyed the fruits of it, so it is a little late to complain. Family challenges are a part of the investment banking lifestyle, which I was swimming in every chance I could get. I held seminars in the beautiful Caribbean, trained Citi - FX staff in London, even did seminars in Hollywood. The nightlife remains a closed book.
My time at Saxo Bank was one of immense learning and in the end I resigned on good terms and who knows I might collaborate with them in the future.
Starting a business has been a dream of mine and with some savings I ventured out on my own.
Where To Begin
Scalable
The idea of whatever you have in mind must, must be scalable. Meaning that you your business can handle an order for 1,000 units with almost the same ease as a 100. I am taking some liberty here with the numbers, but the point is that it should be able to expand without needing a 1:1 ratio. So that if with 10 orders you need 10 employees and so on.
The Saxo Bank secret? They mastered the art of scaling.
Is your idea scalable? You can’t run from this, unless you can scale your id...
