A long road to business success

Those of you thinking about going into business for yourselves must realise the road to success is long and difficult. Qualities essential to embarking on such a journey are the ability to respond positively to changes and to learn from mistakes, to take the initiative and to have perseverance and determination.

An entrepreneur is someone who sees the cup as half full rather than half empty, and who recognises that a solid business takes time to grow. A saying among venture capitalists is “the lemons ripen in two and a half years, but pearls take seven or eight.”

Furthermore, entrepreneurs are people who know their strengths and weaknesses, and the smart ones work together with others who balance out their weak spots. Indeed, having a partner can be extremely rewarding, not only in terms of generating new ideas, but also in navigating the way when waters become rough.

For example, of the approximately 600,000 new business started annually in the United States, 50% fail within the first 38 months and nearly 90% fail within ten years. The challenges are even greater when you are operating in a foreign country with unfamiliar laws and language.

Advice and support

Fortunately, the Netherlands has several places to turn to for free advice and guidance. This is definitely not an option for the short-term resident or one to be taken lightly.

Obviously there is much more involved than we can cover here. Contact your local Chamber of Commerce for more detailed technical information. And for women starting out the Women's Business Initiative International offers support on a number of fronts to both the beginner and the established female professional.

Good luck!