Running a business

Tips from Nikki Channon, MudTrek and Marc Brown, Sporting Hares

Tips from Marc Brown, Sporting Hares

Starting a business

When starting a business, it’s easy to get distracted with the little things. Focus on the key elements relevant to your business first. Spend time on getting your business plan in place rather than concentrating on creating fancy business cards.

Expect the unexpected

Good businesses adapt to changes in the market. Great businesses adapt and learn from them. Be prepared to be flexible when you are presented with changes.

Working 9-5

There’s no such thing when you’re running a business. This is your life now and you have to love your business and product. And why not? You made it. Be proud of it and take every opportunity to tell the world!

Learn to delegate

You may be able to do the accounts, the marketing, the selling, the designing and the testing. But at some point as you grow you’re not going to be able to do all of them simultaneously to a high level. Learn to delegate. Your business is a team. Run it as a team.


 

Tips from Nikki Channon, MudTrek

Make the most of your skills

Think what you are like as a person. There’s no point going into hospitality if you don’t love having people around.

 

Research, research, research

Do masses of market research about your product and the growth potential. Who else is doing this? Are they doing it well?

Exploit social media

If it wasn’t for Facebook and Twitter, I don’t think MudTrek would have been a success. It’s the best way to spread the word.

Use contacts

Friends with an accountant? Got a friendly neighbour with marketing experience? If you’re setting up a business you need all the help you can get – ask for as much advice as you can get.

Explore funding

Check out possible loan schemes or new business grants in your area. I called our local council to enquire about grants and the resulting funds meant we could finish the renovation to our guest barns.

Business Wales

Contact Business Wales for advice. Their designated advisor guided us through the complicated process of applications and business plans to secure funding for our plans.

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