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What Are The Ingredients Of A Successful Start-up?

What are some of the most vital elements for ambitious start-up owners looking to grow their business into the next British success story to put into place?

What Are The Ingredients Of A Successful Start-up?

Looking at five of the most successful start-ups from the last decade, there are several clear behaviours which they consistently show:

#1. Right product, right time

Superstar new businesses capitalise on up-to-the minute trends, if necessary disrupting their sector, rather than trying to emulate the offerings of current industry leaders.

Brewdog helped pioneer the wave of new British artisan beers with character while Anesco saw the demand for integrating green technology into homes and business premises.

#2. Securing funding early

Tyrells’ exceptional growth was built on the founder’s willingness to mortgage his farm to invest in his new business. Levi Roots started with a £50,000 cash injection that let him take his Caribbean sauces from kitchen to supermarket aisle in a matter of months.

Brewdog eschewed traditional lending from either banks or venture capitalists to start their own sell-out ‘equity for punks’ scheme.

#3. Expand quickly

Stand-out enterprises are agile enough to take expand into new markets before imitators get there. Infectious Media hit triple digit growth across three countries during just their second year of operations, while Tyrells were selling their luxury crisps in thirty-five countries by their sixth year.

Scroll down to compare how these five exceptional businesses grew from foundation to major players within just a few years.

UKB-MultiNationals-Infographic

 

Images: ”Start Up Shutterstock.com

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I am a freelance finance, business and investment writer working out of Brighton. With over 5 years experience in both the financial and business industry I have a wealth of knowledge with I am keen to share. I have recently been published on the Sales Force blog and Real Business along with a number of other high profile online publications.

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Comments
  • Hi Connor, great post and nice examples. One current example I’m involved in the car industry with is http://www.carlow-nissan.com/, there given their Facebook community the opportunity to book a test drive viz Facebook, I’m pretty sure this have never been done before in Ireland, check it out here: http://www.facebook.com/FlynnsCarlow?sk=app_202117213152517

  • A great post Connor, indeed it is important to think outside the box when using Social Media and Social Networking. You have provided some great titbits there.nSocial Networking is here to stay I believe, and like ATM cards, everyone will be using it in some form or other pretty soon, with out the fear of God himself.nI just posted a status on twitter this morning wondering if we will all have QR codes as our avatars within 6 months, what do you think? Will we become little black & white squares instead of funky profile pictures?

  • Who knows Elaine. It’s mad to think that QR codes have been around since the mid-nineties! They have really taken off though! Have you tried getting your own QR Tee-shirt? http://www.qrstuff.com/ 🙂 I would consider it for the intrigue as many people may not know what it’s about!nnThe examples are very small really but it’s getting into the frame of mind and more importantly getting others on board into the frame of mind that you can use social media in any department to create innovation. Spread the word from department to department and get people on board 🙂

  • Hi Niall,nnI originally went to school beside that garage would you believe in Tullow 🙂 That’s a fantastic idea. Again simple in a sense but so clever. If you have to start looking to make up things to justify social media you’re in trouble – that’s a great way to target a market that exists through Facebook and take the fear out of picking up the phone if they want. Kudos! nnMy examples are really very small – but they’re about getting into a frame of mind. When people think of innovation they very often think of science and technology and futuristic developments. Innovation to me is an everyday approach and state of mind that we take when approaching our daily work 🙂

  • lol, small country! n

  • Bernard Kennedy

    Organic Media are providing an entry level product to create a Social Media presence for Irish businesses, give them a call on 415 1206nnBernard Kennedy

  • Anonymous

     Really great post, Thank you for sharing This knowledge.

  • Thanks for sharing these great startup examples Sarah. It’s interesting to hear how successful businesses start off. I look forward to your next post

  • Sandra Crowe

    I got to say these are great tips indeed but if I may add in number 1 you must be also in the right place to make that start up like for example you would build an arcade you have the right time the right product / services but you are in the middle of nowhere so besides from the right time right product you must also be in the right place.




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