Expert advice on starting a new business (Video) » SMEInsider

Expert advice on starting a new business (Video)

Half of all UK start-ups fail within the first five years, so you need to have an array of skills in order to be successful. Listen to some advice from veteran small business owners as they explain what it takes to be sustainable.

We walked up and down London’s ExCel centre during The Start-up Business Show to find those who’ve experienced the ups and downs of running a business.

From working 16-hour days, to finding an experienced mentor, find out what people said when we asked ‘‘what advice do you have for someone who wants to start a new business?’’

Look out for more videos of our time at The Business Start-Up Show, which are coming soon.

In case you missed it, check out our interviews with Aletha Brown and Katrina Douglas.

  • Martin

    I would suggest:

    1. operate cash only, no credit. What’s the good of “selling” something if you never get paid… as they say, turnover is vanity, profit is sanity.
    2. operate from home if possible, certainly at first…this obviously keeps your overheads to a minimum
    3. Look for a product or service which has a degree of USP…and don’t enter a market which is based largely on price competition unless you can “blow everyone out of the water” on price which is hardly likely with a start up..
    4. Don’t be fooled into thinking that everyone makes buying decisions on low prices alone…they don’t.

    many others but have other things to do