Monday 25 October 2010

Five years, five lessons: Lesson 1

To celebrate five years in business this month we wanted to share some of the lessons we've learned; five lessons in fact, one for each year. So this week, I'm going to post one lesson a day. Now these aren't any great insights into running a business, but they are lessons that have been really valuable to us... So who knows, they might be useful for you - or someone you know!

Lesson 1: Get some advice
Find someone with skills or experience you don't have and talk to them. Regularly. They don't need to be experts in your field (or even have any experience in it), but they do need to bring some experience to your business that you don't have.

It can seem like a big investment. But you need to remember it IS an investment. It is something that will bring a return to your business. And if you pay attention and learn from the experts then that investment will keep delivering a benefit for as long as you run your business.

To make sure you spend wisely, think about the areas where your knowledge is weak, or areas that are really crucial to success, and find someone who can help you with those issues.

There are two people we work with who have made a massive difference to our business. One brings general experience of running a business and the issues to look out for. The other has helped us to create and maintain an efficient business development process.

It's important to remember that these people are (probably) only giving you advice and guidance. They're not doing the job for you, just helping you to do it better. They're coaches, mentors, consultants, advisors - lots of titles to describe lots of different approaches. But whatever they call themselves, they can be very valuable - if you find the right ones.