When emotion is high, intelligence is low. Business built off of emotion, the emotion of ‘screw it, let’s do it’ often fail. Why? Because there is no research, planning, growth strategy and exit strategy. In today’s episode, Jay dives into the mentality needed to succeed in business with logic, preparation and planning and why starting a business driven by emotion don’t always work.

 

Coming soon. Free resources and Success Plans available on The Business Mentor website. (Jay-dhillon.com)

 

KEY TAKEAWAYS

  • A business should be built on logic, planning, strategy, profitability, growth and an exit strategy and not just an emotion.

 

  • If you’re looking to start a business make sure you do the research. Emotion gives us a momentum where we think we can ‘just make it happen’ but the devil is in the detail.

 

  • When starting a business you must test the demand in the market and research the industry downside and upside before going all in.

 

  • The reality of starting a business kicks in when you’ve launched your PR campaign, you’ve set everything up and your sat in a quiet office. This why you must test and research everything from your demand to your exit strategy before launching and not get caught up in the emotion of the idea.

 

  • A lot of people lose a lot of money with the ‘Screw it let’s do it’ mentality when going into business. To be successful you need to look beyond the headline of a business opportunity. Do the research and develop a growth strategy and an exit strategy before making the leap.

 

BEST MOMENTS

“In business, strategy and logic always win”

“When emotion is high go into research mode.”

 

VALUABLE RESOURCES

  • Richard Branson – Screw it lets do it:

https://www.amazon.co.uk/Screw-Lets-Do-Lessons-Quick/dp/0753510995

 

 

ABOUT THE HOST

Jay Dhillon is a serial entrepreneur, investor, and philanthropist based in the UK with a proven track record of growing businesses from start-up to success- and helping others do the same. From humble beginnings, Jay grew his first business from 0 to 500 employees and three locations, racking up sales of over £30 million – all with no investment other than a slight amount of savings. The business went on to acquire major clients such as Landrover, Jaguar, Toyota, and New Look, to name a few.

Its immense success inevitably brought about outside interest, and at the age of 33, Jay eventually sold the company to a London investment firm in Doyen Resources. Today, Jay owns several businesses in different sectors and helps entrepreneurs achieve success.

A calling to give back and help others led to Jay being chosen for the highly coveted role as a Prince’s Trust mentor, where his achievements were marked by a personal invitation to Buckingham Palace to meet Prince Charles.

After helping several young entrepreneurs to succeed as a mentor for the Trust, Jay’s burning desire to bring his wisdom and knowledge to a wider audience ultimately triggered the concept of The Business Mentor Podcast.

Jay feels that anyone can achieve success in business with the right advice and mentoring and is now sharing his knowledge with his growing audience via his podcast.

In the UK alone 95% of businesses fail within the first five years and Jay aims to reduce that number.

Backed with the hard-earned knowledge and experience from his time in business, The Business Mentor Podcast will share Jay’s personal business lessons as well those of other successful entrepreneur guests who share their wisdom and secrets on the show.

CONTACT METHOD

https://www.jay-dhillon.com/

https://uk.linkedin.com/in/jaydhillon

https://www.instagram.com/jaydhillonuk/

https://www.facebook.com/JaydhillonUK/

http://Jay@jay-dhillon.com

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