Blogs

Derek Bishop

Director

Start up success

Date added: 05th Oct 2015
Category: SMEs / Entrepreneurs

There is one thing which could mean make or break for all businesses; the way in which the culture translates into business relationships.

How did you finance your business in the early days? When it comes to stories about start-up finance it seems to be very much a case of ‘you pay your money and you take your choice’ (no pun intended). The last month alone has seen stories of increased lending to SMEs in Q2, SMEs still having trouble raising finance, and a story about entrepreneurs being ‘most likely’ to start their business with less than £1000.

And in truth, probably all of the stories are right and all are wrong; it just depends on the business sector and the business model which underpins an entrepreneurial start-up or growing business. But irrespective of the sector there is one thing which could mean make or break for all businesses; the way in which the culture translates into business relationships.

Attitude is everything may be a cliche but it is one which all businesses would do well to remember. If you want customers to be attracted to your business, if you want great relationships with suppliers and if you want employees to do the best they can for the business then it all comes down to the culture.

We’ve seen some articles which suggest that culture is something which is built up over time and which is therefore only the preserve of the longer established organisation. They’re wrong. The culture of the business starts even before the business does in the attitude and approach of its founders. It develops over time with every action and interaction but can stay true to the original ethos provided that the leaders remain firm in their resolve.

You may start your business with a tiny amount of capital; you may raise finance through crowdfunding or through loans, through the generosity of relatives or through the seed enterprise investment scheme. But whatever your pathway to starting up, your pathway to success will be considerably smoother if the culture remains strong.

 

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