Why do a lot of startups don't make it?

Alan Wick, Founder, Alan Wick Associates; Coach, Consultant, Author

Alan Wick is the founder of Alan Wick Associates.
He is a business coach, a business consultant, a business strategist, and a best-selling author.

Podcast

Follow TBCY RSS

Overview

The trend of coaching has increased significantly in recent years, and so does their need. A coach helps individuals uncover their potential, climb up the career ladder and improve their life overall by asking the right questions. Be it a Career coach, an executive coach, or a life coach, people are realizing the importance of hiring coaches and at the same time, people are showing interest in becoming a coach themselves to impact others’ lives positively.

Well, today we have invited Alan Wick, Founder, Alan Wick Associates; Coach, Consultant, and Author to share his insights with us.

00:34- About Alan Wick

Alan Wick is the founder of Alan Wick Associates.
He is a business coach, a business consultant, a business strategist, and a best-selling author.

00:56- When did you realize that you wanted to be an entrepreneur?

From a very young age, I wanted to be an entrepreneur because I was born into an entrepreneurial family.
I was an employee very young in an ad agency. I thought that I could do something of my own.
It was a business that rented PA systems to touring bands.

03:05- What were some of your learnings?

Cash flow was my biggest learning.
It was a business that required a lot of capital investment and had a negative cash flow.
My father helped me in that situation.

04:16- Journey from being an entrepreneur to a coach

I started as Alan Wick Associate, and that was really by accident.
I built up five different companies and sold them.
I bought one of them back. I got the backing of a big venture capital company bank.
I discovered that the company that was one of my early creations was in bad trouble, but I didn’t really know that until I got into it, so there was a four-year turnaround process.

06:10- What are some of the areas that you coach, or work in, as a coach?

It varies enormously at one end of the spectrum.
My job was to prepare the company for sale, prepare the management for succession and talk them through that they’ve never done any mergers or acquisitions.

12:50- Why do a lot of startups don’t make it?

There’s one word to answer that, and that’s capability.
So where there are capability gaps or a lack of capability in particular areas that lead to failure.

19:17- Three lesson

Stay hungry, stay foolish.
You must have a mentor.
Build a business with purpose.

RESOURCES:

You can connect with Alan Wick- LinkedIn

Enjoy this podcast?

If you learned new insights about entrepreneurship, as well as the importance of coaching, subscribe and share it with friends!

Love to give us 5 stars? ⭐⭐⭐⭐⭐ If you do, we’d love a review from you. Help us reach more people to keep them in the know as we talk to leaders, high achievers, and thought leaders from diverse backgrounds and nationalities. Excellence can come from anywhere; stay in the know, and hear from emergent high achievers and gurus.

Stay updated with what’s shaping the world today through the latest The Brand Called You Podcast episode. Follow us on iTunes, Spotify, and Anchor.fm.

Don’t forget to follow and message us on these platforms!

Website: https://tbcy.in/

Facebook: https://www.facebook.com/followtbcy

LinkedIn: https://www.linkedin.com/company/tbcy/

Twitter: https://twitter.com/followtbcy

YouTube: https://www.youtube.com/c/followtbcy

Thanks for listening!