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?
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.
#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.
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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.Read Full Bio