Why are Wood and Disney the number 1 choice for ambitious entrepreneurs?

Surely anyone who runs a business is an entrepreneur? The terms "business owner" and "entrepreneur" are often used interchangeably, but there is a subtle distinction between the two. According to INC. Magazine, the World’s number 1 small business guru is Michael Gerber, who dispelled the myth that most people who start small businesses are entrepreneurs over 30 years ago. Most small business owners are technicians who in Gerber’s opinion “have an entrepreneurial seizure” which lasts a fleeting moment of time. They have a technical expertise in something and that’s the business they start. Bakers start a bakery and painters start a decorating business. They remain technicians who have replaced a single employer with potentially hundreds of much more demanding “employers” being their new customers. This is perhaps one of the reasons why 80% of small businesses cease in under five years when the technician realises that they don’t want to be in business and would much prefer to let someone else deal with the stress.

Are those business people who are still trading 5 years later real entrepreneurs? Not necessarily because the “type” of business makes a difference too. If your business is a “lifestyle” business which basically means you sell just enough to cover your needs and then are happy to stop, then you are not really an entrepreneur because an entrepreneur has a much bigger vision of where he or she wants to be.

Is an entrepreneur an inventor or innovator? Again, not necessarily although James Dyson is often mentioned as an example of an entrepreneur but many of the inventors we have met over the years haven’t made the jump from inventor to successful business owner.

But if an entrepreneur is not an inventor or innovator, what are they? Sometimes it is the person who sees the potential of another’s idea who are the real entrepreneurs. Take for example the story of Ray Kroc who was just a travelling salesman who bought McDonalds and turned it into the world powerhouse it is today.

So, we definitely need to add that an entrepreneur is “The Seer of Potential” because that statement would include both Dyson and Kroc. But there has to be more to it because the seer of potential could just be a dreamer. Is the potential real or just imagined? Does the idea solve a real and significant enough pain?  We have met people who have created a solution to a problem that is simply not big enough or painful enough to cause a large enough volume of customers to pay for a solution.

We could, I suspect, find dozens of definitions of entrepreneurship but let us stop at:

“A seer of potential in a solution to a significant pain felt by a large enough volume of people to be able to visualise a sizeable business”.

So, we have a basic definition of an entrepreneur but is there a reason for us to refer to Ambitious Entrepreneurs.

AMBITIOUS versus CONTENTED

Ambitious people are not satisfied with what they have achieved to date. They continue to have higher aspirations which they are driven to achieve or acquire. Their aspirations can be money, profit, sales, size of their business, number of employees, or perhaps an end goal to sell, but they are motivated as they can visualize it.

We mentioned the lifestyle business early on because such businesses only grow to a level when the owners make sufficient money to satisfy their current needs as they have already reached their level of contentment. Ambitious people are never satisfied and continue to take risks to grow their businesses further or faster.

We believe that you can be an entrepreneur but reach a level of contentment with your business and decide to enjoy the proceeds of the risks you have taken so far rather than continue to strive further.

So, our Ambitious Entrepreneurs have unfulfilled goals, and they recognise that they need help to realise those goals. 

Higher aspirations do not necessarily lead to continued success. Entrepreneurs will have a multitude of skills, knowledge and experience but none of us are expert in every facet or running a successful business that can grow sustainably to realise the goals of the entrepreneur.

Professional advice can help entrepreneurs:

• Identify and assess potential opportunities: Professional advisors can help entrepreneurs understand the market landscape, identify potential opportunities, and assess the viability of their business ideas.
• Develop a sound business plan: A well-crafted business plan is essential for attracting investors, securing funding, and guiding the growth of the business. Professional advisors can help entrepreneurs develop a comprehensive business plan that outlines their business goals, strategies, and financial projections.
• Structure their business: Entrepreneurs need to make important decisions about the legal structure of their business, such as whether to form a sole proprietorship, partnership, LLC, or corporation. Professional advisors can help entrepreneurs choose the most appropriate structure for their business and ensure that they are compliant with all applicable laws and regulations.
• Secure funding: Startups often require funding to launch and grow their businesses. Professional advisors can help entrepreneurs identify potential funding sources, prepare pitches and proposals, and negotiate financing agreements.
• Manage finances: Financial management is critical for the success of any business. Professional advisors can help entrepreneurs develop and implement sound financial management practices, including budgeting, forecasting, and cash flow management.
• Protect their intellectual property: Intellectual property is a valuable asset for many businesses. Professional advisors can help entrepreneurs protect their intellectual property rights through patents, trademarks, and copyrights.
• Comply with laws and regulations: Businesses are subject to a complex web of laws and regulations. Professional advisors can help entrepreneurs understand and comply with all applicable laws and regulations, avoiding costly fines and penalties.
• Plan for the future: Entrepreneurs need to think about the long-term success of their businesses. Professional advisors can help entrepreneurs develop strategic plans for growth, succession planning, and exit strategies.

Businesses have different life cycles. The start up phase and first few years of strong growth is when the business is expanding rapidly and starting to generate profits, if the business has got the mix of market, finances and operations right. But then the business will run into its mid-life, mature phase, when it is no longer growing as rapidly. The market may become more crowded, technology moves on, managing a growing employment base becomes more onerous ... and the business starts to lose its way, stagnate and will inevitably start to decline into the final phase.



Entrepreneurs often feel confident and driven during the start up and early growth phases but then realise the depth and breadth of experience, specialised knowledge and skills needed to continue to grow sustainably through the mature phase and refresh their businesses returning them to the growth phase with new markets and innovations.

Wood and Disney  live and breathe all things to do with business, using real world experience gained over many decades. Yes, we are also professionally qualified business advisors and members of the ICAEW Business Advice Service. But, the quality of our advice is based on more than just letters after our names. Fundamentally we are business owners who happen to run the business of an accountancy practice. It’s not a sideline, or an after-thought, or pretty words to put on our website. It’s what we do day in and day out and that means practical advice that is proven to work. In 2023, Peter was named Top 10 Business Advisor of the Year in the Helm global awards. So it's not just hot air - we can prove that we have the experience and skills so ambitious entrepreneurs can rely upon the advice we give to be sound, practical and tried and tested.

Proactive advice - This is the core, raison d'être, the heart of the Wood and Disney mission. The home page of this website states:

“Our mission is to provide our clients with proactive financial support and business advice to ensure their long term success and give them the time, confidence and freedom to enjoy their business and family life.”

At Wood and Disney ...

• We meet our clients at least quarterly, often monthly to track progress, to make decisions and set new goals. So we are up to date on what’s going on in their business and their lives.

• We are experts. We are professional Chartered Accountants. We have been in business, helping our clients for many years – Peter and Brendon alone have between them 70 years of business experience.

• We give structured business advice. Using our Journey to Freedom toolkit which ensures practical advice and help in delivering and implementing proven, workable solutions for your business. We don’t just give you one-off, stand alone solutions then walk away and just let you muddle through.

• We build your business foundations. Help you achieve sustainable growth. Support you in adapting to change. Ensure you realise your aspirations. We Build, Better, Futures.