For many people, starting their own business can seem pretty daunting.
Despite the challenges and fear over the last four years, my business has turned around.
For many entrepreneurs, people tend to go off track and feel like they are getting no-where.
Here are five tips I’ve learned over the years that I believe all entrepreneurs should be aware of.
#1 Employing The Right People
As a recruiter, you may think this is the most obvious piece of advice you will receive and unfortunately every organisation goes through this at some point or another.
As a recruiter responsible for people and reputation, we have seen it all and you learn not to take everyone at face value and to be prepared.
In recruitment, you will always have let downs, especially dealing with temporary staff. Moving from a world-renowned industry and hundreds of thousands of pounds to temporary workers that would jump for as little as 20 pence per hour, it is challenging.
#2 You Have To Adapt
As a business, we like many others, were a niche oil and gas company with the world at our fingertips and everything was achievable. Little did we know that the industry was going to crash.
We had to diversify and fast.
We moved into other industries including construction, warehousing and rail in order to save the business and it was time to start again.
Over the years, we have had to learn the tricks of the trade and each industry.
#3 Ensure You Know Yourself And Your Business
It is essential that you know what you do and why you do it. Question everything. Your processes, your structure and even your answers. I started my journey doing the same old thing as everyone else, I was told to pick up the phone and make that sale.
I called a gentleman and it turned out that we were the tenth caller of our kind in the same day – I was appalled.
I had to change and that was when the ‘they ask, you answer’ philosophy clicked – with a little help from Chris Marr and Marcus Sheridan.
#4 The Less Money You Have, The More Creative You Are
During the early stages of my business, I was able to be creative, market myself and my business in ways you could not do as a big corporation like I was used to.
I could drop things and go, I could redecorate my entire office for the sake of suddenly changing my business to meet the needs of a client.
When you have no money, you become desperate and begin to think outside of the box.
These are the times when I look back and think, those days were great.
I could afford to take a break from the office and travel around the Middle East in the search of my next contract or the best candidate in the market.
Now, I have a business to run. I have employees to pay. Temporary workers to pay and clients to keep happy.
Embrace your early days.
#5 £3000 and £30,000 Can Feel The Same In Business
When I received my first decent sized contract, I began to panic.
Do I have the resources to play host to this contract?
Do I have the capability and funds to pay out £3000 per week in staff wages?
This is where it begins to mould into your business and you begin to have faith in yourself. There is a reason why people say persistence is key.
There have been times where it feels the same, now we are in a better place and have had clients fall in front of our eyes and have clients refuse payment where we have been stuck with over £30,000 worth of bills.
Can you guess at which point I was more stressed?
Exactly. The first.
Don’t Give Up!
If you are at the stage where you feel like you are getting nowhere then do not give up.
Take responsibility for your own business.
If you want to grow your business then it starts with you.