Starting your own business

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Starting your own business

• By Ed Sauer

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1 Why my own business ?
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2 - What I have done or did?

• Restaurant/Clubs
• Bogart's
• Casablanca
• B49
• Cat Club
• Real Estate
• OPAVA
• Main projects Grund, Hollerich, Real Estate
  Agency
• Music
• Nylon Records
• Main Projects Sly and Robbie, Discotake 1 and 2,
  Kinkysoul
• Other
• Fiduciaire
• Domiciliation BOA
• Clothes shop Men Zone
• Communication agency Socks

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3 - My experience

• Risk taker
• Lack of subsidies or grants from government for
  local entrepreneurship
• Success Stories but also failures
• Reasons behind failures
• Lack of experience at young age
• Administration Accounting
• Too ambitious
• BUT YOU ARE ALWAYS IN A LEARNING PHASE TODAY ALL
  MY BUSINESS ARE ADVISED BY PROFESSIONALS WITH
  EACH ONE HAVING THEIR FIELD OF EXPERTISE i.e
  Professional accounting firm, Real Estate
  professionals
• SURROUND MYSELF WITH EXPERIENCED STAFF MEMBERS
  AND CONSULTING FIRMS

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4 - Advice to new entrepreneurs

• Have a proper business plan when you start out
  i.e I learnt the hard way
• Dont depend on Banks for new projects, banks
  look always for a track record and always require
  guarantees
• Surround yourself with professional advice
• Present your project to business angels,
  investors,if they do not invest at least you get
  some free advice
• Keep your objectives do not diversify too
  quickly. Have a vision and keep in line with your
  vision or idea
• Cash Management One successful deal does not
  mean you have a successful business.
• WORK HARD