4 minute read
Business Advice and Support
Martin Mockler, Partner at Evans Mockler, offers advice and support for those launching a new UK business venture
There has been a significant increase in the number of entrepreneurs’ stories being recounted in various forms of media over the last decade including being told on TV, in books and in films. Their many interesting journeys are often glorified and paraded as more glamorous than they are. Couple this coverage with the fact that the UK is unrivalled as a place to start and grow a business and it’s no wonder that there has been a cultural shift that says, ‘I would like to be in control of my own life and my own destiny’.
Entrepreneurship is a well-trodden path and like in any field, professional or otherwise, mistakes can be avoided, and advancements made quicker with a little guidance from those who have been there, done that and got the t-shirt, so to speak.
I’m very fortunate to be part of a community within the BITA that is bursting with entrepreneurial expertise, success and talent. I recently asked a number of the successful clients within Evans Mockler, who have led businesses which have had a major impact on the built environment of London and the Southeast, what their advice would be to those about to embark on their start-up journey.
Resilience and focus (commonly known as stubbornness)
To be successful, an entrepreneur must be resilient. Any comment that runs along the lines of “that’s not possible” or “that can’t be done” should be treated as a challenge to prove wrong.
They must then be prepared to persevere and execute with their original proposal. A common theme running amongst our client base is that successful entrepreneurs only pivot if they really must, or if it’s utterly commercially compelling to do so. Alternatively, I have seen some not so successful people use pivots to justify themselves being distracted from their missions and inevitably failing.
Focus on what is most important
Entrepreneurs need to hold the ability to see through what’s not important. Although tempting, swanky office space and sexy branded stationery are vanity progressions. We represent one client who often says that he always tells people not to worry about where they’re working from. Whether that’s from home, meeting people in a café, or a hotel; it’s cheaper and it’s flexible. You’re much better off spending money on marketing and maybe limited PR as it boils down to the fact that with no sales, you don’t have a business.
Consider seeking support from industry peers
Entrepreneurs don’t just need money, they need support. It is very important for entrepreneurs to have the encouragement and advice they need to help propel their business forward. Attend meetups within your industry or local community and seek out online support via forums and groups. You’ll be surprised just how willing others will be to help and offer advice for free. Signposting, reassurance and sanity checking from peers can be invaluable at all stages of your businesses journey. There will always be someone a little further down the path you are taking.
Do not be distracted and remain focussed
Try to ensure that as a business owner and leader of a team you fully understand the purpose of what you are doing. In addition, it is vital that owners stay on purpose and follow through with that purpose in all that they do.
If you find that you are heading in a direction that doesn’t support your business purpose, you risk derailing due to potential distractions.
Having said that, pivoting (which generally refers to a shift in strategy) is widely cited as a skill that entrepreneurs ought to possess. Few start-ups will avoid pivoting in their quest to find the right customer, create a clear value proposition, and define positioning. Pivoting methodically with a clear strategy isn’t a distraction but taking a path with no clear metrics for success is a fool’s errand.
Starting a business can be exhilarating, rewarding and fun, but can be exhausting, relentless and stressful in equal measure. Just like any endeavour, taking advice from those who have already made mistakes and achieved their own successes despite setbacks is a sure-fire way to minimise the risks of lessons being learnt the hard way.
