i was asked a question there this morning by a chap who is thinking of
going into business on his own account and he was asking me was a particular
industry a good one to get into in other words
was this particular area of activity good and profitable and what do you do
well and when you get clients and so on and i had to tell him that it's very
very difficult in fact it's impossible and silly to
stay with any degree of confidence or certainty
that a particular industry is going to be profitable for you
and a particular industry is going to be avoided
because ultimately the success that you're going to experience or
failure if that's your loss will be down to
yourself so let me explain if somebody asked you
or asked me is the legal industry a good one to get into the answer
obviously is yes and no in other words there's many many solicitors
embarrassers doing exceptionally well
and there are even more probably who are struggling
struggling perhaps to make a living and the exact same thing applies to every
industry whether it's property investment or
property development or retailing or the licensed trade
or whatever area of activity whatever sphere of commercial activity you get
involved in there's going to be winners and there's going to be losers and it's
up to you as an individual to carve out your particular niche your particular
book of clients or book of customers or whatever but it is
stupid quite frankly to say such and such an industry should be avoided or
such and such an industry is a great one to get into
because as i say in every industry whether it's
hair and beauty whether it's nails whether it's
pizzas regardless there are winners and there are losers and you cannot be
definitive so the question is not a good one
in other words can i or will i succeed or
is there an opening in ireland for example for
a particular service because there's an opening everywhere
provided the service is one that's in some sort of demand provided you're good
provide your goat provided you're at the top of your game
and as i said no matter what area of activity no matter what sphere of
activity commercial activity you get involved in there will be
winners and there will be losers and it is entirely down to you to
succeed and my view is that a particular individual
whether it's a man or a woman who succeeds in any industry
would actually probably succeed in virtually every other industry because
the same requirements the same attitude the same
characteristics are the things which will drive a person
allow a person to succeed but you cannot be
definitive or dogmatic or prescriptive about the industry it's not the
industries the person or company or commercial concern
in the industry they can make it a success
and as i say if you look at accountants or look at solicitors
or look at management consultants the top of the game
premier league soccer players top of the game you're making a fortune
but if you're down in division four or playing league of ireland
or whatever you might be earning the average average industrial wage
you might be earning a part-time wage you might be doing it for a hobby
but the difference between the top and the bottom is enormous
so he can't say is soccer a good career to get into it is if you get into the
premier league it's not if you end up scratching around
with a part-time contract in the lower echelons of a league
in some part of europe so point is he cannot be prescriptive he cannot be
dogmatic about industries what you need to do if you have an
intention to set up a business yourself what you need to do is understand the
industry understand your strengths and build your
business the success or failure of your business
will be entirely down to you i hope you find this video useful if you
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