How to start a business: tips from the experts

When you’re starting a business, there’s no substitute from getting advice from those who’ve done it before – the people who’ve stood in your shoes and gone from the spark of an idea to a thriving enterprise.

We brought some of these entrepreneurs together at our recent meetup to discuss how to start a business. There have never been more routes to markets, more resources to make it work, and more enthusiasm for entrepreneurship than right now. And with 2016 just kicking off, what better resolution than to get started on making your dreams reality?

Here are the top pieces of advice from our speakers.

Melanie Goldsmith, co-founder of edible alcohol business Smith & Sinclair

“You don’t need to have all the answers at the start. Go gung ho, make mistakes, just don’t make them with a lot of money!”

“Use every resource you can to get funding to start up – check out Growth Accelerator and Virgin StartUp.”

“If you’re starting a business look outside London for help – it’s cheaper!”

Andrew Shebbeare, founder of leading digital media agency Essence

“Make sure your co-founders complement your skills – it’s essential.”

“Never forget about what you want to achieve when you start a business – focus on this.”

Nick Coates, founder of Federation Coffee and member of the Virgin StartUp loan panel

“Start small, because then your mistakes will be small. And trust me – you’ll make mistakes.”

“Starting small means you let the customers decide whether to invest time and money on taking it further.”

Get the Virgin StartUp Business plan