{"id":6157,"date":"2019-08-05T10:19:55","date_gmt":"2019-08-05T10:19:55","guid":{"rendered":"https:\/\/dev.withcreative.co.uk\/lforl\/?p=6157"},"modified":"2019-08-07T08:28:31","modified_gmt":"2019-08-07T08:28:31","slug":"maintaining-success-beyond-the-start-up","status":"publish","type":"post","link":"https:\/\/dev.withcreative.co.uk\/lforl\/maintaining-success-beyond-the-start-up\/","title":{"rendered":"Maintaining success beyond the start-up"},"content":{"rendered":"

\"\"<\/a>
\nSome of the team at head office celebrating our 10th birthday<\/p>\n

There\u2019s a strange sort of relish with which commentators report the likelihood of new business start-ups failing. It\u2019s almost as though they want to say, \u201cSee, it\u2019s a tough old game. You haven\u2019t got what it takes\u201d. These same commentators go quiet when businesses do manage to navigate the challenges of the first few years. They rarely mention businesses celebrating the milestones of 5 years, 7 years or a decade in business.<\/p>\n

Initial failure rates are, of course, quite alarming. 26% of start-ups cease trading within two years. Only 43% make it to their 5th<\/sup> birthday, but age is no guarantee of survival. Indeed, beyond the supposedly most dangerous years, there\u2019s a risk of complacency setting in. Established businesses can assume they\u2019re safe and fail to adapt to changing markets or trends. Retail giant Woolworths traded for 99 years on the UK\u2019s high streets before it was forced to call in the administrators. Kodak didn\u2019t take digital photography seriously. It didn\u2019t adapt to the emerging technology within our phones.<\/p>\n

No complacency: the formula for a decade of success<\/h1>\n

Legalfor<\/em>Landlords is celebrating its 10th<\/sup> year in business this summer, but there isn\u2019t an ounce of complacency within the operation. MD Sim Sekhon has established a business that has come through the supposedly most risky initial years, but which still retains that start-up spirit of determination, and according to Sim, there\u2019s no way that\u2019s going to change. He believes that not enough people recognise that surviving businesses survive because they never take their eyes off the ball.<\/p>\n

We asked Sim to elaborate. He said, \u201cA fairly savvy start-up entrepreneur knows the risks they\u2019ll face initially. They understand the basics of cash flow and the problem of overtrading. They\u2019ll have sought support, have initial deals, consultants and financing to help them. It\u2019s when they have to stand on their own two feet that the real work begins.\u201d<\/p>\n

The real work in question is the longer-term stuff. It\u2019s creating teams and developing the individuals within them. It\u2019s about ensuring that the managerial skills reach throughout the operation and that everyone has high levels of motivation. It\u2019s understanding the competition or knowing how to avoid complacency if competition is thin on the ground. Long-term success depends upon a finely balanced blend of great leadership and strategic thinking. It requires courage, teamwork, a love of innovation and a clear set of goals. It also depends upon acknowledging that a business can be and should be part of its wider community with priorities that extend beyond the notion of profit.<\/p>\n

One year in business is worth noting. Five years is a major achievement. Ten years is, according to Sim Sekhon, simply where the next chapter for Legalfo<\/em>rLandlords begins.<\/p>\n","protected":false},"excerpt":{"rendered":"

Some of the team at head office celebrating our 10th birthday There\u2019s a strange sort of relish with which commentators report the likelihood of new business start-ups failing. It\u2019s almost as though they want to say, \u201cSee, it\u2019s a tough old game. You haven\u2019t got what it takes\u201d. These same commentators go quiet when businesses […]<\/p>\n","protected":false},"author":2,"featured_media":6158,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[63,2081,2183,21],"yoast_head":"\nMaintaining success beyond the start-up - Legal For Landlords<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dev.withcreative.co.uk\/lforl\/maintaining-success-beyond-the-start-up\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Maintaining success beyond the start-up - Legal For Landlords\" \/>\n<meta property=\"og:description\" content=\"Some of the team at head office celebrating our 10th birthday There\u2019s a strange sort of relish with which commentators report the likelihood of new business start-ups failing. It\u2019s almost as though they want to say, \u201cSee, it\u2019s a tough old game. You haven\u2019t got what it takes\u201d. 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