Five tips for entrepreneurs

BUILDING a successful business is no walk in the park. Steve Giddings, co-founder of Frontier Coffee, shares lessons he learned along the way:

First, being an entrepreneur isn’t an overnight route to riches. It’s an emotional roller-coaster ride that has incredible highs and heart-stopping lows.

It’s a test of character, and without a supportive family and a team of highly committed staff, it wouldn’t have been possible for me.

Secondly, business planning is necessary but being observant, flexible and innovative is what helps you overcome the roadblocks that you find along the way.

Thirdly, none of us are good at everything and so finding good people to partner with is very important.

Without my late business partner Mark Bennett and his “do it” personality, I’d probably still be in my day job trying to import something novel and dreaming of running a business.

Fourthly, without the support of others we’d never have got where we are today and so building relationships is critical.

Finally, there comes a time when the entrepreneurial growth curve needs a good dose of professional management and that is when finding a good partner more than overcomes the fear of “giving away” your business.

The secret of success?

I really have no idea – yes, we have grown two businesses, but success is such a relative term and as many companies have learned, it certainly doesn’t guarantee you’ll be there tomorrow.

For me, just do what makes you really want to get out of bed each day – do what is good and adds value, and then do what makes you happy.

If that means starting a business, make sure you are determined enough to work through the bad days. Then find people who can help you and worry about your staff and customers and the rest will look after itself.

So, what are you waiting for?

 - Fin24

* Share your experience of setting up your own business, or simply ask a pressing question. Our business panel can put you on the right path.

 



 
 
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