Have you Ever Looked at a New Business Venture and Thought “Oh No…”?

I have, quite often. Picture the scene: The launch of a new business, lots of well-wishers are present, there are the abundant snacks and drinks, the mingling of suppliers, contractors, potential clients or customers. Everybody is smiling, nodding and in a generous expansive and congratulatory mood. But a little voice inside your head keeps saying “oh no”. You wonder if you are the only one hearing it, you assume so and do your best to suppress it. This is not the right moment to be thinking about the Emperor’s new clothes.
I remember the newly-weds who enjoyed planning their own wedding so much that they each gave up their high paying careers in Information Technology and started their own wedding planning and event company. It was going to be perfect. Initially both of them would be involved in the business to “get it moving”, then as the babies started arriving she would ease herself out of the day-to-day activities and help out on a part-time basis. They had wonderful contacts. A seamstress that could faithfully reproduce the most elaborate wedding gown from any magazine. A photographer who was skillful with lighting and could capture the mood of the day beautifully and make every couple look gorgeous. I visited them in their High Street office and we ran through the list of their services and their glossy brochures from florists and gift companies. Their main focus was to be weddings, but eventually they would expand into corporate events and gifts. Everything seemed perfect and at the same time everything seemed all wrong. Their enthusiasm and excitement almost drowned out the “oh no…” voice in my head.
About six months later I walked past their office and they had gone. Oh no…
I had another “oh no” just a few days ago. A new North Indian restaurant opened up near my house, so I went there for lunch with some friends. They had taken over the premises from a down-market cafeteria that was “quiet even on a busy day” (if that makes sense). It was always an untidy place and I would automatically give it a wide berth when walking past.
The lunch was excellent, the service from the waiter attentive and it was a very pleasant hour or so. The premises are set back from the road a little, so traffic noise wasn’t a problem, but really, everything else about it is a disaster. Firstly, you can’t see it from the road and even most pedestrian traffic would not be aware of the place. The prices are high, too high for the office lunch time crowd although not too high considering the food quality and the service. But the location just kills it. Firstly there is the legacy of the grubby cafeteria that was there before, the building it is in is old and tenanted mostly by small one-man-operation businesses. The foot traffic and exposure just isn’t there.
After lunch the owner came over to our table and chatted. It was his first week in business and already the concern was showing on his face “do you think the prices too high?” he asked. I gave him my thoughts and concentrated on the positive, but really, unless he comes up with some clever marketing, I think the place is doomed. As I left I wished him good luck and promised to return. I haven’t yet, but I will. I’d better do it quickly, I think.
So there are two relatively recent “oh no” experiences. It’s easy to see how it can happen. Firstly the thought grows in your head that you can do wedding planning, or North Indian food better than most people. Then you become convinced that there is room in your community for your business and you are certain that it will provide you and your family with a much more satisfying lifestyle than what you are doing now. You make the decision to take the plunge and suddenly there are a thousand things to think of. Premises, suppliers, investors, marketing, cash-flow. You are sure that any potential pit-falls can be overcome by sheer hard work and determination. then after months of intensely focused endevour reality starts to set in. The business just isn’t working and you’ve run out of ideas to make it a success.
Oh no!

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