When it comes to start-up advice, can you afford to take it for free?

When it comes to start-up advice, can you afford to take it for free?

When you want to start a new business, success is dependent on getting off to a good start. It’s a stressful time for entrepreneurs and founders: searching for the right advice, from a trusted source, obtaining the necessary funding and making lots of decisions in a short space of time.

It’s a time when you need your network: knowing you can trust people is of the utmost importance as you navigate the challenges to get your idea off the ground.

If you’re lucky, someone in your network or community will be able to point you in the right direction for those critical factors such as financing, finding a premises and writing your business plan. But you might not have access to the right people and statistics show it really matters who you choose to work with at this stage.

Did you know that the use of paid advice can increase your turnover by 23%?

That’s quite a step up and makes investing in trusted, paid advice well worth it.

At Streamlion Consulting, we work with a wide range of prospective business owners and have an impressive track record in getting people the advice and funding they need. So, what are our tips for entrepreneurs who want to succeed in setting up a thriving business?

  • Make sure you work with someone who has experience in helping new business owners get their idea off the ground. There are many ways to make this process easier than it would be if you decided to go it alone so make sure you tap into this knowledge and achieve the quickest, smoothest route to market that you can, even if you do need to pay to achieve this;
  • It’s also important to get advice from someone who knows what is needed when it comes to funding. Rejection is much less likely if you have the right information and paperwork is completed correctly and in a timely manner. When it comes to business, time is money and every day saved is a day when you could be making money;
  • An experienced advisor like Streamlion might mean you need to make an initial investment, but this will pay you back many times over when you are able to get a faster, successful loan decision first time which avoids all the stress of having to wait and reapply;
  • Seeking external advice can feel counter-intuitive when you already have a trusted network but, in fact, it means you are more likely to receive the right advice, first time. Look for an advisor who has a professional set up with website, LinkedIn profile and other social media channels where you can see the quality and consistency of their work. Check out their reviews and ask to speak to a previous client to find out whether they represent good value;
  • Finally, look for someone who will explain the details of the process in clear, simple language. There shouldn’t be any confusion or misunderstandings. You are the client and you should expect a respectful and professional approach to all your interactions with your advisor.

Taking inexperienced advice or trying to get through this convoluted process by yourself are more stressful and less reliable ways to start your business. In an ideal world, you should be up and running as quickly as possible and making the most of your great business idea. By working with a trusted, professional advisor, you’ll guarantee this and will also have a supporter and ally who can help with your business as it grows too.