Building a Business in Lockdown | How Much is a Share Worth?
Feb 9, 2021 | Ben Davies
No doubt many of you will have seen the news over the past few weeks about the trading frenzy involving GameStop and their remarkable share price rise and fall?
Well, if you are like me, you will struggle to comprehend just how much a share price can be affected by something not directly linked to the trading performance or potential of a business. One thing that is apparent however, is that social platforms and sharing content has certainly had an unprecedented impact on the market and is that a trend that will continue?
I am no expert, so luckily for you this is not an article about share price or trading but is more an assessment on the share concept in general.
As a new business owner who has recently spent time building a business plan, the concept of “sharing” is extremely relevant and something that I have put a lot of thought into. Firstly, when you come up with a business idea you need to share that with people you trust to test whether they think you are on to something – this is often referred to as market research.
For Hexa, it was also important that we tested our idea out on other groups of people as well to make sure we were not just getting the positive information we wanted to hear. This can be a bit daunting as part of you wants to keep your ideas close to your chest, but the other part of you wants to share it with people. We know this is a balancing act and are learning how to manage it, but we do see real value in the sharing of information with our network.
So now that Hexa have established what does sharing mean for us?
Well, as I have mentioned in my previous articles people have been extremely generous with their time and have shared some great advice with us as a new start business already. We are starting to do the same and I think there is a lot to be said for sharing ideas with people whether they are in the same industry as you or not. Sometimes, sharing ideas involves sharing information with competitors but I am a firm believer that if you back your product and your people then this is not something that should necessarily worry you. In fact, some of the best business relationships you can create are with the people you compete with as you are all going through very similar challenges and looking to create similar opportunities.
As you may have seen, we have started to post information about our business such as our outsourced services and have already had some great responses and interaction. We have also started to receive some testimonials and recommendations, which reinforces the power of “sharing”.
Sharing information to build your network
Even though I have lived most of my life in Wales, I have spent all but two years of my working life for Finance Companies based over the bridge. One of my goals over the next 6 months is to build my business network in Wales. To start working on that goal, I have recently joined a local networking group and have found the first few weeks invaluable. I am seeing the concept of “sharing” working well already with each member committed to helping create more business opportunities for each other.
The ironic thing about posting an article about “sharing” is that we currently are unable to share much with anyone due to Covid, apart from the odd film with our family that is. I certainly am excited for the time that we can start sharing experiences with our loved ones again, but in the meantime perhaps we should all start buying shares in Blockbusters in the hope they make a similar resurgence to that of GameStop.
#bringbackthevhs #smarterlendingsolutions #newbusiness #sharing