What a contradiction: on the one hand Sarah Ferguson wants to live the lavish lifestyle but on the other hand her business was bleeding money and the swanky façade of an office on Madison Avenue was hiding a failing company.

She put the cart before the horse by occupying a 5,600 square foot office in one of the most exclusive districts of New York, paying an astronomical rent, and needlessly hiring an excessive number of employees.

As I’ve always maintained, anyone can set up a business but to make it successful you need to work hard to keep costs down at all times, especially at the beginning. My advice to any entrepreneur would be to save money on premises and employees in the tough first few months of trading; start slowly and build up business steadily, rather than splashing out on all trappings of success without actually making a profit.

- Don’t put the cart before the horse, By Duncan Bannatyne, Telegraph.co.uk, October 15, 2009.

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