Research by the Federation of Small Businesses (FSB) has shown that 70 per cent of small businesses that receive mentoring survive for five years or more, which is double the rate compared with non-mentored entrepreneurs.
To celebrate National Mentoring Day 2017 we’ve rounded up some of the best tips from our hobnobbing interviewees!
Jessica Titcumb, Twisted Halo Drinks
“Network; you never know who you’ll be introduced to or where it can take you, both as a person and a business. Speak to as many people as possible!”
Damon Bonser, British Design Fund
“Know your market inside and out, whether you are a product or service business. Know what makes you different, why that is important to your customers and how much someone will be willing to pay for what you are offering. And do this before you invest too much of your own and others’ time and money.”
Aaron Crewe, novi.digital
“There are dozens of ways to be a short-term success, but not many to keep that success building as the years go by. You always need to plan for the long term – be aware how rapidly-changing technology may change your business. Be ahead of the innovation curve; be an innovator.”
Andrew Nicholson, Kulea.ma
“Get the right people on board. A great product, whilst a wonderful starting place, isn’t enough to succeed. It’s people that make a business great, so get them on board, by hook or by crook, and then keep them on board by showing them how valued they are.”
Jenny Knighting, Nutcracker Agency
“Outsource what you are bad at, free up your time to do what you are excellent at and the results will follow. If I could sneak another one in, it would be to have a tangible plan, not a blind vision but a real plan of how you are planning to get from A to B and then stick to it (allowing for innovation along the way).”