Five pieces of business advice for start-ups, by David Granger of Fact 51.
Get organised: It turns out running your own business can be complicated.
One of the first things I learned was you need to be more organised than if you work as an employee. HR, accounting, banking, contracts; there’s a tsunami of ‘stuff’ you have to wade through before you even pitch for business or do any work. And it’s ongoing, so it helps to get organised.
Know when to say no: The temptation is to say yes to everyone and everything. Especially pro bono work. For many, time is what people pay for. So don’t give it away. Conversely, you need to gauge when longer-term gains can be had from a little try-before-you-buy.
Go to bed: Occasionally you need to just stop and sleep. There will be times when a night shift is necessary but don’t give in to the temptation of always working past midnight. Get rest and be more productive the next morning.
A little scepticism goes a long way: Most people you come across (especially similar start-ups) will have your best intentions and success at heart. This is not the case with everyone. Be guided by those first impressions. Seriously, what are their motives?
TCB: This was one from my dad. He said ‘take care of business and everything else will take care of itself’. I didn’t get it at first, but essentially he meant concentrate at what you’re good at. Don’t get sidetracked, focus and TCB. Elvis had a similar motto and Liam Gallagher has it tattooed on his arm. I don’t think either were what my dad was referring to. Or maybe he was. I should ask.
Spark column by David Granger