Asif Ahmed Managing Director of Acclivity and author of The Finance Playbook for Entrepreneurs www.acclivity.co
“When I first started out in business, I hadn’t fully appreciated the importance of having contracts in place to support every legal relationship, like partners, suppliers and customers. I realised that this meant that at any point of contention, you always end up having to concede, as you are the small business.
My advice, as a result, is always ensure there is at least a basic contractual arrangement in place to cover all relationships to avoid ambiguity and expectation gaps.”
Charlotte Springett (nee Young) Home Kitchen Eco www.homekitcheneco.com
“I found that saying yes to every idea that is suggested can lead to over diversification and customer confusion. Create a strategy for launching new products early on and stick to it, this avoids letting the number of SKUs get out of control and remain relevant to your business ethos. Virtual suggestion boxes are a great way to capture these insights in a well considered manner.”
“At times, I have tried to control too much myself. Invest time in delegating to your team to avoid the funnel neck process where progress reaches pause because you are holding the decision making too tightly.”
“Sell smartly online; make sure you factor in
