And while he is what you would consider a 25-year overnight success, Croxon remains grounded about what starting a business is all about.
“If you are working for yourself there is a lot that can go wrong. I call it the 51/49 rule. At the end of the month, 51 per cent of the things you’ve done right, versus the inevitable 49 per cent where you take it in the teeth – the net two per cent is what you need every month times 12 months to grow a business.”
“It’s really how you deal with the inevitable down times and be on top of what’s going on.” He says that if you are not thinking of your business on a Sunday, than someone else is, and you must be on top of things at all times.
Dragon's Den: Bruce Coxon
“If you are working for yourself there is a lot that can go wrong. I call it the 51/49 rule. At the end of the month, 51 per cent of the things you’ve done right, versus the inevitable 49 per cent where you take it in the teeth – the net two per cent is what you need every month times 12 months to grow a business.”
“It’s really how you deal with the inevitable down times and be on top of what’s going on.” He says that if you are not thinking of your business on a Sunday, than someone else is, and you must be on top of things at all times.
Dragon's Den: Bruce Coxon
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