It's all about...the details

I may not be the best person to write this article. Details are probably not my forte. If I did some fancy psychological test, I would probably find out I am some kind of visionary.
I enjoy starting companies, I love adventure and I am never too far away from a cutting edge idea. 
But all of those great ideas and energy go nowhere if they are not fleshed out and details established.
I am probably more detailed when it comes to the Adventure Expeditions that I do. Putting your life on the line often gives you that perspective. Not only do I want to succeed at an adventure, but I have to think of every negative eventuality in order that I can mitigate the effects and survive.
As much as I hate to admit it, life is very much like that too. In my business life with business partner Andre Voskuil I get to look at a lot of global business opportunities. Some are very exciting but frankly many are not thought through from the outset. Our goal is to help businesses be successful by preparing them for business financing in order to achieve their goals.
We look at more than 200 deals each year attempting to isolate good opportunities and help the rest become good opportunities. But so often the details are missed. The foundation upon which the business is built has flaws which will prevent it from going far at all… sadly.
As an entrepreneur we live in a world where everyone tells us we have a great idea, we are doing an amazing job etc and so it is natural that our ears start to develop filters. We are optimists. So when somebody tells us that what we have is not structured correctly for success, our frame of reference is that large group of supportive friends who tell us that we are doing great.
I remember several years ago working on a development project as a consultant for Charlie Locke at Lake Louise. He had built a hotel and had virtually no sales on the suites. The whole project was an easy fix from a sales point of view, however, I pointed out issues in the disclosure statement that would prevent the sales from actually closing. 
I guess Charlie had been told by one too many lawyers that everything was fine and simply kept promising me that it would be fixed before I finished my job. Sadly, that never panned out. The small details in a real estate disclosure stopped every single sale from being financed by the bank and Charlie Locke’s empire went in to receivership. 
So, next time somebody tells you that there are a few “small things” that need looking at, don’t jump to your own defence. The small details at the beginning make a big difference at the end!

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About the Author

Mark has been an entrepreneur for over forty years. His experience spans many commercial sectors and aspects of business. He was one of the youngest people to be appointed as a Fellow of the prestigious Institute of Sales and Marketing Management before he left the UK in 1988.

His column focuses on ways we can improve on success in our lives. Whether it is business, relationships, or health, Mark has a well-rounded perspective on how to stay focused for growth and development.

His influences come from the various travels he undertakes as an adventurer, philanthropist and keynote speaker. More information can be found on Mark at his website www.markjenningsbates.com

He is a Venture Partner with www.DutchOracle.com a global Alternative Investment company.

Mark Jennings-Bates:
[email protected]

Photo credit: www.SteveAustin.ca 

The views expressed are strictly those of the author and not necessarily those of Castanet. Castanet does not warrant the contents.

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