This year’s Business Show featured presentations and panel discussions with experts from across the industry. We’ve collated our highlights for those who missed the event.
Small businesses have to find ways of replacing the resources that larger companies have access to. Here Ted Wigzell, founder of Your Business Community, shares some tips on how to achieve this to realise business success.
Replacing resources
‘You can’t be good at everything and it’s important to be aware of the things that you’re not good at,’ Ted says. ‘You can have a brilliant idea but if you don’t have the tools to get it out there, you don’t have a business’. Instead, entrepreneurs and business owners need to find ways of replacing the resources that larger companies typically have access to.
There are plenty of free resources available for small businesses. At an earlier session in The Business Show, Paul Uppal shared the work of the Small Business Commissioner, an independent public body providing free support to companies suffering late invoice payments. Their work includes looking at invoices and contracts to ensure they’re watertight.
Then there are companies like Ted’s, that leverage the power of networks to offer discounts on business resources. Your Business Community is a membership platform that negotiates with suppliers and providers to lower the price of goods, including business insurance and business bank accounts, access to legal advice and financial planning.
Key Takeaways
So, what are the secrets to a successful business?
- Work hard, be good at what you do.
- Replace the resources that a big company has.
- Be happy in what you do.
- Surround yourself with like-minded people.
- Tap into networks.
