Words of Wisdom from 'The Wolf of Wall Street' Jordan Belfort

“The only thing standing between you and your goal is the bullshit story you keep telling yourself as to why you can't achieve it.” 

Bill Gates Quote on Staying Ahead of the Competition

'In this business by the time you realise you're in trouble,it's too late to save yourself. Unless you're running scared all the time, you're gone.'

Donald Trump Quote

'Sometimes by losing a battle you find a way to win the war.'

Business Outsourcing: Do the savings of outsourcing justify a move overseas?

Santander banking group has announced that it will be removing its UK Call Centre Operations from India and will be relocating back to the UK after complaints from  British based customers. We have all had nightmare experiences with Overseas call centres. I can remember tearing my hair out while dealing with an incompetent operative who could barely understand English let alone answer my query. The savings achieved can amount to 30-40% of operating costs in the UK which makes it understandable that numerous firms have made the move. The question of whether the move abroad is justified is determined by the competence of the staff and the perception of the service on offer from the UK client base. Business is global and we must accept that outsourcing is just a part of the International marketplace in which we now operate.

So long as training for staff is thorough and intensive,overseas outsourcing should work. The problems start where employees have not got an acceptable grasp of the English Language and do not understand the product or service of their employer sufficiently well to offer advice and assistance.

UK businesses must remember that bad customer service hurts their brand, reputation and customer retention rates. There is no excuse for UK firms to employee overseas staff without a sufficient education to carry out their work. Many firms choose India as a call centre destination. India has a highly educated, hard working, ambitious population with literally millions of intelligent people to choose from. There is an argument to say that all staff should have at least a degree, a demand which would still leave a large population of prospective employees to choose from in a well educated, commerce competent nation such as India.

Could Santander be the first of many firms to bring their call centres back to the UK? If training, support and recruitment is substandard, then quite possibly. Savings are good but not at the expense of your reputation.

Theo Paphitis on his Business Motivations

'There are three reasons to be in business. To make money, to have fun and to make money.'

The Apprentice vs Dragon's Den: Which Show offers more Business Lessons?

The Apprentice is an entertaining, adrenaline fuelled fight to find a business partner for Lord Sugar. Dragons' Den is effectively a pitching contest where budding entrepreneurs try to entice successful investors into funding and supporting their business endeavours. Both are ratings winners, both are entertaining but which one enriches viewers with the most Business knowledge?

For me Dragons' Den wins this one. The five Dragons dish out plenty of advice as they dissect, interrogate and mercilessly grill potential business partners with rigorous analysis and precise business acumen. Viewers are treated to a master-class in negotiation where the percentage of equity on offer for a given amount of investment is haggled over,sometimes to the last 1%. After watching a few series you get a feel for what is a good idea and what is a waste of time. The importance of knowing your numbers and being able to quote profit, loss, turnover and margins at will, are championed and promoted as an essential skill by the Dragons. The achievements of Peter Jones, Duncan Bannatyne, Debroah Meaden, Theo Paphitis and James Cann (who is now to be replaced by Hillary Devey) are inspiring and educational to watchers, many of whom have aspired to running their own concerns but have never had decent role models to learn from.



Dragons' Den may win the educational battle but The Apprentice wins the entertainment battle. Followers young and old love to point out the failures of candidates and suggest better ways of doing things while watching the show. The 'You're Fired' moment is as exciting as any cliff hanger from the soap operas of the day and offers a fine conclusion to the day's business lesson. No viewer can say that they have never picked up some business pointers from Lord Sugar, who never misses a chance to emphasise the importance of common sense and lateral thinking in making any business decisions.

Both Shows are great and are playing their part in encouraging entrepreneurs of the past,present and future.

Businesses you can start for next to nothing

There are options that enable you to start your business empire with no money and no specialist knowledge. All billionaires started somewhere and maybe one of these ideas could start you on the path to great wealth.

1) CLEANING-Professional cleaners are big business. Domestic cleaners,commercial cleaners and industrial cleaners are making big money offering essential services. Requiring a good work ethic, people skills and nominal expenditure on basic cleaning equipment such as dusters,polish and disinfectants, this really is an opportunity.

2) IRONING-Many people choose to subcontract out their ironing duties to make more time in their busy schedules. It is not glamorous but it is a growing market. You may not even have to buy the iron if the customer allows you to work on site!

3) CAR WASHING-This is huge business in London. Many people have come to London with nothing and grown an empire of hand based car washes across big cities. You can start with a bucket, sponge and polish and move up to industrial jet washes and high class valets.

4) ESTATE AGENCY-Starting as an online concern you can go onto owning a retail presence. The Property business is not doing as well as it has in view of economic constraints,but rents for commercial property are on the slide offering entrepreneurs huge negotiating potential. Start in Lettings and go onto sales. Hard competition but compete on price initially and you can create a foothold in the market. Sales skills,tenacity and people skills are all required.

5) TRADE ON EBAY-The internet comes up trumps again. Buy low, sell high, need anymore advice?

6) LEAFLET DISTRIBUTION- Charge local businesses by the 100 leaflets delivered or by adding £2-£3 to employees' hourly rate of pay. There are plenty of students looking for work who would be happy to offer their services.

7) TUTORING-Offer to help students who are studying subjects you have qualifications in. Advertise on the local supermarket noticeboard and free internet posting channels.

8) GARDENING-If you have green fingers,offer your skills to people who would rather pay you than do it themselves. Again advertise on noticeboards and on the internet on Gumtree or Craigslist.