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timbrown123 timbrown123 is offline
Maven
Join Date: Dec 2002
Posts: 77
What is the most valuable piece of startup advice you can offer?

I know, it's a heavy question, but what's the most valuable piece of startup advice you can offer?

I'm being deliberately vague. I've been surprised by some of the advice I've read so far in this forum. We can never have too much good advice.

Thanks
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KevinL KevinL is offline
Entrepreneur
Join Date: Jul 2002
Posts: 46
I think, don't underestimate the amount of work involved, seek advice when needed (don't get booged down with something you can't handle) and get as much of that advice as possible for free.
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Rhys's Avatar Rhys Rhys is offline
Connector
Join Date: Sep 2002
Location: Cardiff
Posts: 190
Best piece of advice I can offer is -

You are writing your business plan for your own benefit - not for your bank managers! You need to do it as well as you possibly can. I tend to put a lot of information in it including expansion plans and detailed costings of how much this costs. It's also got all the operational details in it, copies of forms, the accounts are set up on excel and even a plan to gain ISO approval.

The thing is that once you are up and running you are not gonna have a lot of time to look into things like this so it's probably better to do it now while you have time.

I know the Japanese tend to write 100 year business plans! And i've heard about a company that had a 200 year business plan.
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elena elena is offline
Connector
Join Date: Jun 2002
Location: north london
Posts: 178
After you have all your start up costs planned X3 and you should be okay.

There are ALWAYS extras you haven't accounted for.

Elena
www.oohlalaa.com
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Designr's Avatar Designr Designr is offline
Connector
Join Date: May 2002
Posts: 442
I would say determination and hard work. You have proberly heard that before, you it's what I work by.

Believe me, it's not been easy. I still set up hosting accounts at 3.00am so it's really what you put in, you get out.

We now have clients as far afield as the US and Australia.

Best of luck
Jay
Design R Web Solutions
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natalie's Avatar natalie natalie is offline
Maven
Join Date: Jun 2002
Location: London
Posts: 55
You definitely get back what you put in! I would say that a good piece of advice I received was to always be aware of your cashflow and if you have not anticipated spending something, don't spend it. It is amazing the amount of companies who do not know whether or not they are making any money, let alone a profit.


Natalie Brown
NLB Travel
www.nlbtravel.co.uk
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Business_woman Business_woman is offline
Starting Out
Join Date: Dec 2002
Posts: 22
The best piece of advice i can offer you is to have very positive people around you because you will need it.

Be prepared to put in a lot of hard work and never look at the time when you are working because you will be working for more than 12hrs on an average day.
I hope this helps
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natalie's Avatar natalie natalie is offline
Maven
Join Date: Jun 2002
Location: London
Posts: 55
I certainly agree with the advice about positive people. I have a friend who I have known for maybe 10 years, yet since I started the business, she has never once asked me how things are going and what is happening. Many people have said to me that it is jealously, but I don't know why, because she has more money and freedom than I do. It is a real shame as I can now see that we will drift apart for no real reason. So definitely surround yourself with people who will support you and encourage you, as this really will go a long way.


Natalie Brown
NLB Travel
www.nlbtravel.co.uk
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Type Rite Type Rite is offline
Starting Out
Join Date: Dec 2002
Posts: 12
BEST ADVICE

FIND OUT ALL ABOUT GRANTS. When you visit GME, BNusiness Link or the Princes Trust they will probably offer you a certain amount of grants and will probably tell you that that is all you are entitled to BUT THEY ARE WONG. There is little pots of money all over the place waiting to be claimed but nobody knows about them.

Visit a web site called grants@j4b.co.uk and just apply for all you can. After applying online someone will contact you about a day or two later and let you know what you are and not entitled to. THIS IS A REALLY HELPFUL WEBSITE and you can learn a lot from it and hopefully get some free money or even training!

www.grants@j4b.co.uk

Tracey.

Type Rite Secretarial Services

TYPERITES@AOL.COM
WWW.TYPERITESS.CO.UK
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