Lessons Learnt From Virgin Start Ups. What Works & What Doesnt in Terms of Starting up & Scaling Your Business
Business Mastermind Podcast
English - May 19, 2019 23:00 - 28 minutes - 26.2 MB - ★★★★ - 8 ratingsCareers Business Investing Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Are you an entrepreneur starting a new business?
In this episode of The Business Mastermind podcast Gavin is in conversation with Alex Chisnall creator of Top 3 business podcast ‘Screw it, Just Do it!' and Virgin Start-up Mentor.
Alex shares with Gavin the commonalities of start-ups who gain traction and success.
He provides invaluable advice for anyone starting a new business on how to identify and effectively manage the challenges you will meet when you begin a new venture.
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KEY TAKEAWAYS
What are the success traits of start-ups?
Focus is the key element shared by those businesses that are successful. They focus on one thing until they have got that right and then move on to the next thing. People often move onto creating another revenue stream when they haven't got the first one functioning successfully. Being able to recruit well and create the right team is vital. To achieve this, you need to understand what motivates people and know how to hold onto people of value. The sweet spot is someone well educated, who is still open to new ideas but has some experience. Being an entrepreneur is lonely so having a mentor is key. It's important to identify someone who is relevant and 3 or 4 years ahead of where you are currently. You must seek to connect with others and grow your network, LinkedIn can be a useful tool to connect with others. You must persevere and be consistent in order to attract those people you aspire to be into your network.In uncertain economic times, what should a start-up be doing?
Its key to look after your existing customers and find out what else they need and what their challenges are. There may be other services or products that you can supply or connect them with. It's important to regularly review all costs to ensure you are getting the best possible deals. Growing your self-belief and confidence in what you are offering is crucial. Regularly revisiting your product or services and the key messages you are sharing with customers is vital to reinforce your confidence and to ensure what you are offering is fulfilling the needs and wants of your customers.
BEST MOMENTS
‘You have to be resilient to be an entrepreneur and know when to ask for help'
‘Timing can play a massive part in the success of a business'
‘It's just perseverance, reach for the stars'
‘You simply cannot say yes to everything'
‘I go to my mentor and am able to just do a complete brain dump'
VALUABLE RESOURCES
ABOUT THE HOST
Gavin Preston
Gavin is an inspirational Speaker, Business Strategist, Business Growth Mentor, Trainer and high-performance Coach. He works with Business Owners and Entrepreneurs and has a strong track record in creating creative strategies to accelerate the growth of their business. He has helped hundreds of SME business owners and leaders improve their performance and that of their business and a comparable number of executives and employees in blue-chip corporates over the last 20 years.
Gavin's energetic, insightful and yet down to earth and practical talks, workshops and coaching is in demand with high growth business between £250,000 and £30 million revenue and with multi-national organisations at all levels from Board to frontline Managers. He is an expert in Business Growth Strategies, Peak Performance Mindset, Persuasion & Engagement, Marketing, Productivity, Leadership Development, Team Development & Motivation, Leading Change, Stakeholder Management, Personal Effectiveness and Behavioural Change.
CONTACT METHOD
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