In Show 120- The Unlikely Entrepreneur an Interview with Alan Manly originally broadcast on Facebook Live on Wednesday 15 August 2018.
You can download the workbook for todays episode here: 120 worksheet
Show Notes
Starting a new business is not easy. Today, we’ve invited entrepreneur Alan Manly to tell us all the ways a business can succeed or fail. Alan has had an incredibly colouful life. After dropping out of school in year nine he became a serial entrepreneur racking up an impressive track record along the way. He is currently the head of Group Colleges Australia and is the author of the book The Unlikely Entrepreneur.
Alan first started entering into partnerships because they were a means to an end. Sometimes he was undercapitalized and needed another persons help. He always had a plan in place to end the partnership. It’s not a marriage. He always tried to write down an agreement that clearly mapped out the future of the partnership. There should be a clear and professional understanding about where the business should end up.
Alan says one of the hardest things to get right in business in delegation. So often business tutors will tell you to delegate more. Alan says there are some cases where you can delegate too much. You don’t want to leave too much to just a few individuals. You want to make sure that you are getting a second opinion about important decisions.
Human nature is such that given an opportunity they will take it. We’re not inherently nice people. Entrepreneur’s will get ripped off when they trust people too much. Don’t just leave money laying around. Two people should have to be present to access the company’s cash account. It’s a waste of time but it will keep you safe. Business is based on associations not friendships.
Alan believes that automation is the key to his college businesses success. People are more customers than students these days. He has begun to automate many of the processes in his back office. Cues are the most common parts of any students life. Alan came to understand that too many of those cues are unnecessary. Everything should be on an app. It will help to reduce the college costs and offer a higher quality experience to students.
How did you make your first dollar?
Alan made 18 dollars a week as a postman
How did you make your first dollar?
Alan made 18 dollars a week as a postman
What book should every business owner read?
What advice would you give to your younger self?
Be more brave and bold.
More about this Show
We started Business Legal Lifecycle to create a simple way for you to understand complex legal terms. Most importantly we want to help you to develop a plan to take your business successfully into the future. There’s a startling statistic the underscores the importance of developing a solid plan. The majority of business owners are just seven months away from losing everything. A single aspect of your business that is not set-up correctly can shut down your whole operation very quickly. Legal advice is not cheap and even when you can afford it there is often a divide between lawyers and their clients. We want to close that gap once and for all. We want to put legal knowledge and tools into your hand to prevent the worst from happening to you.
Twice a week we are going to deliver those tools right to your home or office with Business Legal Lifecycle TV. We’ll start the week with Fast Fix Monday, a short 5-10 minute video that will tackle a single issue that businesses have to deal with. Then on Wednesday’s our main show will feature with more fulsome discussions and interviews all delivered in a straightforward and easy to understand format.
