Dear Entrepreneur. Danny Bailey
is not going to be the success you thought it was (we had plenty of those!), don’t be scared to change tack and try again in another direction.
Christopher Baker-Brian
Co- Founder, BBOXX Ltd
Bigger Feet
Dear Entrepreneur,
What would you advise yourself if you could go back to the day you started your business?
Be much smarter with the marketing! I should have made sure I kept a record of all the customers so I could have done a much more effective job of marketing to them and tracking customer behaviour – I definitely think using that sort of data for insight is invaluable for customer-facing businesses. I would have also been much smarter in terms of pricing and branding – I should have positioned the site as much more premium and charged more!
What inspired you to start a business?
I couldn’t find shoes for my size 13 feet and thought that there must be a better way to do this! My mum and a family friend helped me with the legal stuff, and then I was off! In fairness, I had experience running a mobile disco and so was comfortable with the idea of starting something new, so it was just a case of spotting a new niche really.
Why start a business and not work for someone else?
I think for me, there were a number of reasons. I wanted some pocket money and I thought this would be more fun than waiting tables or mowing lawns! Then there was a real desire to get some proper business experience, which I had always wanted. I think starting your own business is also a lot of fun and you do get a sense of adventure which I don’t think is possible when working for someone else, because you are 100% accountable for everything that goes wrong!
Is it possible to start from scratch?
Yes. Bootstrapping is a well-known practice, and frankly if you’re getting into a business which requires huge upfront investment then you should probably look at doing things another way or looking at another opportunity – startups have such a high failure rate that you can’t afford to commit too much financially at the beginning if you don’t have to!
Do you have any daily routines that make things run smoother?
I make a to-do list, and – crucially – order that to-do list as the time between tasks can be a huge time consumer! Apart from that, I’m focussed and don’t procrastinate – if you work solidly and with focus you can get lots done and still have a life!
Oliver Bridge
Founder, Bigger Feet Ltd
Blackberry Cottage Fayre
Dear Entrepreneur,
The definition of an entrepreneur is “an enterprising individual who builds capital through risk and/or initiative”.
I would have never classified myself as either enterprising or a risk taker.
If someone asked me to define myself I would have probably said a quiet person, who maybe lacked confidence that had an idea, and decided one day that it should be acted upon to see where it went. Maybe I am also a little quirky, or should that just be a unique individual.
However, when I talk about my business, I am a different person, I am that enterprising individual, I have that initiative, and I AM THAT RISK TAKER!!!!! Ok, I probably wouldn’t go that far.
I set up Blackberry Cottage Fayre, Cakes with Secret Ingredients (Vegetables), in September 2011. So what can I tell you my reader?
Believe in your business. I am told I am infectious, obviously not in a diseased way but because of my enthusiasm. I tell everyone I meet about my business as you never know who you might tell that has a connection somewhere. For instance, I was telling my hairdresser about an award that I was through to the final for – a Best Product Award – and little did I know that one of his clients was setting up a coffee shop and was looking for “different” cakes. He spoke to her about me and a couple of days later I was having meetings. The same hairdresser told another client who ran a village community shop, which also lead to another outlet.
One of the hardest lessons I have learnt is the ability to say no! Never be afraid to say no, sometimes it is the right thing to say.
Have a book beside the bed. Lots of my ideas or thoughts happen at strange times, and you can never remember them in the morning, or if you do then you haven’t had a decent night’s sleep.
Gut instinct is a funny one, but if something doesn’t feel right then it probably won’t be right so consider it carefully. Too many times I have acted against my gut instinct and have ended up in the mire wishing I had listened to it in the first place.
Never jump into something, instead sit back for a little bit, maybe an hour or two or even a day or two. It may be an email you need to send, a quote (leave plenty of time to fill them in and keep re-reading) or a reply to a letter, but you will often go back to it and see mistakes, or think ‘should I really say that?’.
On saying that I am not a risk taker, sometimes you need to take a risk or two, but just keep it realistic; you are already a risk taker for setting your business up.
I was given a good bit of advice when I was setting up initially: go for awards, it will give you great publicity (and it does).
Use your support network. You will need them, even if it is a friend who has offered a hand leafleting, manning a stall, or in my case babysitting whilst I had an important meeting. Your network will love to be asked if they have offered to help.
In your support network try and have people that are also setting up businesses. It is a great journey to have together, and when you are feeling rubbish and things are not going right they will be there for you as you will for them in the same situation.
Keep your plan to hand so you keep yourself focused, as it is all too easy to get side tracked. Do listen to your clients/customers – you need them!
If an area of the business is becoming hard to achieve then it may be that you do not have the necessary skills to achieve it. This doesn’t mean that you have been defeated, just know your limitations. It may that be you need a specialist in that area, leaving you to concentrate on what you are good at: your business.
So with all that in mind, if you are reading this then you are probably one step nearer to starting up your new business. Good luck and go for it. Remember all you need is PHD: Passion, Hard work and Determination.
Good luck,
Kate Saunders
Founder, of Blackberry Cottage Fayre
www.blackberrycottagefayre.co.uk
Blackcircles.com
Dear Entrepreneur,
You need to want it more
Starting your own company is one of the hardest, but most rewarding challenges you will take on. To succeed where other people have stumbled, you need to want it more than the next guy. This can prove to be the difference between succeeding and failing.