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Having recently celebrated 25 years in business, chairman of the Cummins Mellor Group, Richard Mellor reflects on what he would have done differently when starting up in 1990.
1 Be more frugalBe true to your gut instincts and deliver what you know is right deep down, instead of trying to portray what you think people need and expect. It’s ok to be the new kid on the block, people like to help and support. You don’t know everything and no one expects you to!
2 Ensure that my terms of Business were water tightJoining your sectors governing body and the FSB is a great step in order to ensure you have the right terms and insurance cover.
3 courage to go it aloneIf you have the courage to start your own business, no one will ever feel like you do about it, believe in yourself to succeed. Don’t give away anything just because you’re doubting yourself, instead seek out a good mentor who you truly trust and can talk to. You will make yourself a fortune!
4 See what grants were availableThere are so many options available to new start-ups at the moment, delivering support programmes to help businesses grow. It’s definitely worth looking into this to see what funded support you can access.
5 Truly understand taxGet to grips with corporation tax, PAYE, P11ds and VAT and when they’re payable. It all came as a bit of a shock to me!
6 Understand the power of social media and marketing' fill='%23cc0935'/%3E%3C/svg%3E){kind=small}
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