Doug Richard, one of the straight-talking judges on the television show Dragons? Den, started his first business venture just 28 days after graduating in law from UCLA.
But it wasn?t a winning idea that lead the American technology investor to go it alone. ?I started not because I had a great idea but because I knew I didn?t want to work for other people,? says Mr Richard in an exclusive video interview on FT.com.
After a string of successful technology and software ventures, Mr Richard founded Library House, a research and data services company, which aims to discover and develop innovative companies and has launched the-gauntlet.com, a website to help budding entrepreneurs assess whether their business is ready for investment.
But Mr Richard is better known for his frank advice on the BBC hit series where business hopefuls have minutes to pitch their idea to a panel of experienced venture capital investors.
Richard?s top tips for entrepreneurs:
? ?You have to ultimately not be in love with the idea as you created it, you have to be in love with the opportunity to grow a great business.?
View the interview
Doug Richard discusses his views on developing a successful business and coping with the lifestyle of an entrepreneur.
? ?One of the things about starting businesses is that mistakes are the things you never forget.?
? ?The measure of success is your ability to manage cash because, at the end of the day, whether or not you?re alive or dead to do business the next day, is determined solely by whether you?ve cash in the bank. ?
? ?If you?re an entrepreneur and you?re starting a business, you?re going to give up two things ? all of your time and all of your money. ?
Read other enterpreneurs? top tips Martin Halstead
