Stewart Owen Ford has grown companies in many industries. These include venture capitalism, publishing, hospitality, and marketing/advertising. His high success rate has given him the valuable experience he is eager to share with other would-be entrepreneurs in his native Scotland and elsewhere. To this end, he offers advice to would-be entrepreneurs who may be wondering which industry offers the highest odds of success.
He begins by pointing out that there is no guarantee that working in a particular industry will result in long-term success. Rather than seeking the “best” industry, Ford encourages would-be entrepreneurs to consider their talents and professional expertise. He also urges them to consider location, financing, and other factors to find the field in which they have the highest chance of success.
Those who have professional experience in certain fields can do well as consultants. Stewart Ford notes that there is a high demand for many different types of professional consultants. This is especially true in fields such as business economics, investment, financing, environmental issues, software, and strategy. Nutritionists are also in high demand, which can be a great entrepreneurship opportunity for those with a degree in this field. At the same time, a degree and years of professional experience aren’t required to become a successful entrepreneur. “Soft skills” such as communication skills and creativity are considerable assets to would-be entrepreneurs. People who are good at communicating with others may do well selling products online and at a physical location. Creative entrepreneurs may want to pick a field such as photography, web design, branding, or video creation.
Ford also reminds would-be entrepreneurs that everyone should do some things before starting a new business or career path. Planning is essential. An entrepreneur should know how the business will operate, its basic structure, and how it will become profitable. Flexibility is also a must. He emphasizes that an entrepreneur has to be able to adapt to changing circumstances and market conditions. Staying up-to-date on current trends can help entrepreneurs use cutting-edge technology to increase profitability and reach new audiences. Branding and marketing are also essential to bringing in new customers and generating brand loyalty.
Stewart Owen Ford lived and worked in the United Kingdom. However, his experience and advice can apply to would-be entrepreneurs the world over. Successful entrepreneurs identify their skill set and then leverage it to its fullest potential. Careful research, planning, and a good marketing/branding campaign are keys to success. Flexibility is essential in any industry. It can spell the difference between a struggling business and one that remains profitable long-term. In the end, success is not tied to any one industry. Rather, an entrepreneur must find their niche in the business world and then make the most of it.
