Archives for January 2014

10 Tips For Starting a Business

Each week, we ask the coworkers at Cambridge Business Lounge, as well as other members of our growing business community, for their thoughts and ideas to help other start-ups and  small businesses.

This week, we asked the question “What advice would you give to a new start-up?

As ever, we weren’t short of responses (thank you to every one who contributed) and the responses were…

  1. Don’t take all of the revenue out of the business – re-invest!!

  2. Make every friend possible and help them.. It pays back.

  3. Be flexible and provide what the market wants, not what you want them to have

  4. Get your product sold to paying customers asap. i.e. validate that people will pay

  5. Sometimes things that are really low cost are great, but sometimes a false economy. Learning which is which can be painful – best consult people who’ve done something similar and vet your vendors carefully

  6. – Consult people lots

  7. Being self employed, doesn’t need to mean ‘being by yourself-employed’

  8. Fail often and learn

  9. A start up is like having a baby. Think twice before doing both at once.

  10. Do at least two years of financial projections before you go ahead

What about you? What advice would you give to a new start-up business. Email info@cambridgebusinesslounge.com or tweet @CamBizLounge and we will post a selection of responses below.

Being Self-Employed Shouldn’t Mean Being-By-Yourself-Employed

When you’re an employed member of a team, you will most certainly have a boss to provide you with direction, motivation and support, as well as other members of a team to bounce ideas, frustrations and excitement off and socialise with. But, who do you turn to when once you’ve taken the plunge to work on your own?

coworkingAccording to research from Startup Britain, more than 500,000 businesses were launched in 2013 and, I’m sure, many of them will be experiencing that feeling of isolation that comes from self-employment and the challenges that remote working brings.

The absolute best way to over-come these challenges is to go out and meet others who feel exactly the same. So, over the next week, work somewhere else for one day, such as your nearest coworking space. Not only may you even be more productive than you are at home, but you’ll be part of a small business community that wants to help you and needs your input too.

Once you do, you’ll quickly learn that being self-employed, doesn’t have to mean being by-yourself-employed!

Find out more by working at CBL for a day. CLICK HERE for details…. Your first visit is free.