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Let’s get one thing straight, there is no magic recipe for business success! Luck, a great idea and sheer hard work are all factors but the quantity you need of each will vary in each case.
Einstein had ideas all the time but only a few made it big. In truth you only need one big idea to start a business but it has to be the right one and I am sure even Einstein didn't really know if his inventions would be successful.
A business plan is a document that sums up your business – its aims, strategies, market and financial forecasts. Every business should have one and it should provide the road down which you plan to travel for the next 3/5 years. A good business plan is flexible so don't have it set in stone.
Research is a key element of starting a business, but all too often it is either forgotten or ignored. Research is without doubt the key to making a success of a business but it has to be done properly and needs to be relevant to what you are setting up. It also has to be realistic.
Guernsey is an entrepreneurial island. Business start ups and incorporations are on the rise and an important part of the growing and diverse economy. But how do you start a business in Guernsey?
It is tempting to think that you need to build a perfect ship before you can possibly sail. You will naturally think that your customers will not buy from you unless you offer a great variety of features, have a fab office and a gorgeous website etc.
If we wrote Location down ten times that would be ten excellent pieces of advice for potential shop owners. Location is everything in retail and unless your product is desirable or unique enough for you to become a destination shop then you need the right location.
Business Development is the way by which you expand your business and look at new products and new areas in which to sell.
Liquid’s CEO Lis Lewis-Jones set up her business above her mother’s garage 12 years ago. In celebration of Global Entrepreneurship Week, she gives six of her best tips to help you on the road to success