Self-made millionaire Dave Fishwick shares his advice for budding entrepreneurs A bit like planting a tree, the best time to start a business is 10 years ago. If you planted a tree 10 years ago, you could be sat in the shade. If you started a business ten years ago, you could be benefiting from it. The second best time to plant a tree is right now, and the same with a business. When people say, why now? I say – why not now? Decide what you love doing.
It could be fashion, hairdressing, knitting, writing. You want to be doing something you’d do if you didn’t need the money. Once you’ve decided what you want to do, this is my advice for making it a success. Do your research Don’t try and reinvent the wheel. If you want to open a little pub, cafe or shop, for example, you need to look at the best one in your area. Get a part time job in the place that has the longest line outside. Once you’re inside, see what sells best, what time of day they sell the most and what decor they have.
What entertainment do they have? What nights are the busiest and what works? Some people spend a fortune learning this. Check out the competition, make sure you know what they’re doing and borrow their ideas. RELATED ARTICLES Previous 1 Next Record number of start-ups registered in UK last year,… Entrepreneur Tim Armoo picks his top business ideas and… I’m struggling to find a job in tech – how can I stand out…
I print dog fucking a girl magazine as a hobby and sell it on Ebay: Do I need… Share this article Share If you’re thinking about a mobile hairdressers, for example, ring a few up and see who can fit you in. The one that can’t fit you in for a while is probably the busiest and doing something different. Have a look and see how they’re running their business. Get free help where you live There will be an economic development officer in every local area, and there are 38 growth hubs in the UK.
Take advantage of them. Local growth hubs are public and private sector partnerships which give free help to aspiring business owners. They can help you start a business, register, come up with a business plan and give you advice on grants. Bank on Dave: Our business doctor I want to buy a piece of land to run a doggy daycare – will it work? I want to launch a business for people planning for loved ones after they die – is it feasible?
DAVE FISHWICK replies I’m launching a hair salon with my best friend – should we keep income separate? I’ve been buying hats at charity shops and boot sales and now want to rent them out I’m a student and want to make some extra cash – should I get a part-time job or start a side hustle?
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