Top tips for entrepreneurs looking to scale their business

Introduction

We speak to founders and entrepreneurs from across our portfolio to ask them what their top tips would be for helping build a solid foundation for future business growth.

Transcript

James Uffindel, CEO at Bright Network: One would be take the money, absolutely don't be capital constrained. Looking back to myself and particularly running my first start-up where we were very capital constrained, I was getting it going and there's always things you want to do as entrepreneurs always kind of ideas you have you want to execute and money is often a limiting factor.

David Clee, CEO at MirrorWeb: Get a really good set of advisors from solicitors to accountants who can really help you form a contract with your investor that works for both of you. It's from that sound footing that you can really build a relationship that is beneficial to both partners.

Frederico Charosky, CEO at Quorum Cyber: In technology and cyber security specifically our industry I see a lot of people that focus purely on the tech and I think that is a mistake. I think you cannot forget that what you're trying to do here is solve problems for other people so it's about them it's not how about how great your tech is but it's about how do we come together to give a journey for the customer I think that's what made us quite unique and in our industry people forget about this and they focus purely on the tech and this is not a technology business it's a people business]

James Uffindel: My last tip would be once you've done the deal just communicate a lot it's such an important relationship and just generally in life people don't like surprises so our business at Bright Network is growing really well but of course any business it's constant kind of challenge demands I mean I was thinking the day having started my first business in my student bedroom and been doing this for 20 years now like the reality of business is just kind of challenge setbacks frustrations particularly for doing new things but what people don't like are surprises, so what we do all the time with with Maven is making sure that communication is working as well as possible rather than just saying right that's a massive problem here out of now.

Here we try and talk about kinds of issues and challenges as much and then we try and solve them as a team because you know we're all invest in the business we're on the board we want the best solution so rather than being kind of them versus us coming back to this point around alignments, if the business is doing well then it's hopefully increasing value everybody's benefiting and when we hit those challenges how do we work them out together to mutually benefit for the business.