I actually agree with @Lord_Sugar - apart from the networking quote!

In the Daily Telegraph today Lord Sugar in his usual charming way talks to small businesses about what it really takes to be successful

You can read it HERE (or page 8 of the Business Section)

He states that too many people actually lean on banks when they are insolvent rather than when they need business growth. He states that Banks cannot support business that fail because their sales are lower than their costs! If this is the case then there is something wrong with the business and that they need to either - address their marketing and sales methods or their costs! I agree with this. Running a business is not easy and cannot be run on passion alone, life-style businesses are great BUT you still need to be competent at business and make decisions that can be tough to make.

He did state that it was a waste of time to go networking, and this is a shame as it shows a lack of awareness about the way networking can decrease costs, increase knowledge and help achieve sales... apart from that it is a good read, which I am pleased about, I usually dislike his thoughts!



warm regards
Penny Power
Founder of Ecademy and Ecademy Digital School
Learning, Networking and Business Development in the Digital Age

Follow @pennypower

Milton Rodrigues

miltonrodrigues-136281

I actually agree with @Lord_Sugar - apart from the networking qu

Never liked him much ! :) Sold crap Computers .... which were notoriously Unreliable. MILT.

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adrin smith

adrinsmith-670974

I actually agree with @Lord_Sugar - apart from the networking qu

No doubt he is looking well experienced and can do a best job in networking, and somehow he is at good side of having a networking events. Meet and Greet

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James Coakes

jamescoakes-61537

I actually agree with @Lord_Sugar - apart from the networking qu

I think it's important to read his actual words; he's talking about networking events and not networking. He'll do his own networking at his own level and it will be specific and focussed and it will be effective, his technique honed over many years of experience. He's talking about seminars and events and he's absolutely spot on. The networking meeting promoters should think about it and how they can address it rather than being in denial. The reputation of the industry among serious business people is heading off the edge of the cliff, just as MLM did in its time because what is essentially a good idea was abused and issues not faced. The result is that it has zero credibility now and this is the risk that all new business methods face. When you're in business and you're listening to a message that makes you feel uncomfortable it's probably the one you really need to be thinking about.

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Andy Lopata

andylopata-29455

The networking quote is actually very important

I think his comments on networking were far too general and misinformed. To read between the lines and guess what he was saying is OK for people used to networking and who have made their minds up already. But what about start up businesses for whom effective networking could make all of the difference but who won't now find out after reading Lord Sugar's comments? He has made no effort to separate good from bad, strategy from delivery. He has merely made crass comments based, I would guess, on little direct experience. I think Sugar's comments about networking are destructive and dangerous. I've written more about it in this thread. Andy Lopata Business Networking Strategist Keynote Speeches - Training - Consultancy "One of Europe's leading business networking strategists." Mike Southon, The Financial Times 07930 417833 andy@lopata.co.uk Sign up to receive 3-weekly networking and referral tips at www.lopata.co.uk.

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Chris Ogle

chrisogle-149131

I actually agree with @Lord_Sugar - apart from the networking qu

Hi Penny, Most of this is pure common sense... the part about Networking is that it is easy to get into the mode of attending Networking events as a 'Soft' option and a way of convincing oneself that we are working instead of getting out there and actually doing business... I think this was his point in the article... Networking produces three outcomes, potential sales, potential Suppliers and potential advocates and often a valuable fourth, education, whether that be as a result of a guest speaker or just learning from connections... both old and new. It is not going to produce bottom line profits today, but it will engender the relationships and connections that ensure success later on. It is all about balance, a proper harmony between 'increasing the number of contacts and opportunities, your sphere of influence if you like' and then actually doing 'the business'. We need both, hanging around at Network meetings all the time won't pay the mortgage, introvertly working on your business without 'getting out there' sometimes will end up with business drying up.... As with all things moderation and a good balance is crucial... and it has never been any different, if you spend more than you earn then it'll be a short summer and very long winter. Chris

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Penny Power

penny-power-1001

I actually agree with @Lord_Sugar - apart from the networking qu

On the issue of networking - is it not a case of blaming the tools? I have been to some fabulous networking events and some not so good ones, and then I realise that the problem was me! I think it takes a certain mindset to enter networking events and therefore it is about checking yourself and seeing if you have the right attitude to enter. I do agree that they are not suitable for all though, I guess that is why some people thrive online while others need the offline. warm regards Penny Power Founder of Ecademy and Ecademy Digital School Learning, Networking and Business Development in the Digital Age Follow @pennypower

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Peter Syme

peter-syme-31451

I actually agree with @Lord_Sugar - apart from the networking qu

On the whole he was talking sense. The issue with networking events tends not to be the events it tends to be people do not measure what they achieve from doing them. Some businesses need networking events like they need air without them they would really struggle, others like myself do not have a great need. I will only attend two this year maybe one more and they are research and learning as much as business based. I think his overall message was just get of your backside and get to work and make the business work and stop whinging. A message I tend to agree with. Regards Peter

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Anthony Haley

anthonyhaley-455504

I actually agree with @Lord_Sugar - apart from the networking qu

I am sick and tired of hearing people asking what to do, going to networking meetings and seminars expecting to glean some gems of wisdom. These events are money-making exercises and benefit one party and one party only: the organiser. They have become an escape for people to justify sitting around wasting a day bullshitting with each other while they should be working. You will learn nothing other than that there are another load of people in the same boat as you. He is generalising of course but he does have a very good point. I've been to some. Tony

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Alan Stevens

stevensa-38366

I agree with @Lord_Sugar - including the networking quote!

He talks a lot of good sense, almost all the time in my view, and was a loss to the country when Labour lost power. My business has never had a bank loan in its ten years of trading, Nor do we have any credit card debt or creditors. We'd never expect a bank to bail us out. I have to say, he makes a good point about networking events. In my experience, many of them are run poorly and deliver a poor service. There are some shining beacons, of course, but even in some of the large franchises, quality is very variable. Networking is not intrinsically beneficial, and the interests of the organisers are not always the same as the attendees. Unfortunately, some events simply put a hundred people in a room and only provide a speaker who wants to promote their business. However, when their aims are in harmony, networking can be amazingly productive. Best wishes Alan Alan Stevens, President, Global Speakers Federation, 2010-2011 Communication, PR and Reputation Management Author of Ping! Presenter of Media Coach Radio Show Follow me on Twitter Videos - Ecademy London and Your Business Channel

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Sally Asling

sallyasling-442607

I actually agree with @Lord_Sugar - apart from the networking qu

I just like his blunt speaking! Fave quotes are: "Could be you're here because you're good with words and know the right thing to say at the right time. I know the words to Candle in the Wind. It don't make me Elton John." and " I'm thinking whether I should get you a cushion because sitting on the fence there you could get a sore arse. So are you gonna talk up?" sorry, bit off topic I know!

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Tim Cook

timcook1-75872

I actually agree with @Lord_Sugar - apart from the networking qu

You're spot on Penny. For once Sir Alan is talking sense! Obviously I disagree with him on networking - it is a great way to share ideas and pick up on advice from other successful business people. Of course you still need to get on do something with this advice - as hearing it alone won't generate any success!

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Jon Upton

jonupton

I actually agree with @Lord_Sugar - apart from the networking qu

He makes some good points Its interesting to note that PeerIndex thinks there is a 50% chance that Lord Sugar is a Robot. kind regards Jon

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Jon Upton

jonupton

I actually agree with @Lord_Sugar - apart from the networking qu

He makes some good points Its interesting to note that PeerIndex thinks there is a 50% chance that Lord Sugar is a Robot. kind regards Jon

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