Duncan Bannatyne Didn’t See This Coming!

Hi guys, 

Did you read in the news last week about Duncan Bannatyne, the BBC Dragon’s Den investor, supposedly being is debt to the tune of £122 million? Two years ago his fortune was estimated at £430m, and the media now report he’s now struggling to pay off a multi-million pound loan he took out in 2006 to fund the purchase of 24 fitness clubs. The story continues that he’s hired a team of legal and financial experts to help straighten out his affairs. 

Whether the story is true or not (Duncan disputed it the same day via Twitter), it just reinforces to me how unforeseen events can hit hard in business. When Duncan took out that loan, he didn’t know a recession was looming or that the banks would start making erratic decisions about financing businesses only a few years later! 

As entrepreneurs we all get hit with problems, setbacks and uncomfortable risk from time to time. It’s how we react to these issues that sets the super successful apart from the ‘wannabees’. 

I’m a huge believer of building ‘growth assets’ within your business. Whether that be marketing assets which consistently bring quality leads into your business, sales assets which convert those leads into profit, financial assets making your money work smarter for you or operational assets so you only have to do work once, but can leverage its value many times over. 

Once you own these assets within your business you are much better equipped to deal with the turmoil that unexpected events can cause. 

I won’t lie to you, it isn’t easy to create them (otherwise everyone would be super successful) but the return is well worth the time invested in their development. 

Most entrepreneurs I work with need a little guidance on how and where to start creating their own growth assets. If you would like to discuss how I may be able to assist you in doing the same, please don’t hesitate to email me back and we can schedule a quick telephone call to see if I can help you.