PETER’S ADVICE FOR OTHER BUSINESSES

Surround yourself with trusted advisers Running a business can be lonely. It can be hard to see the full picture. Surround yourself with trusted advisers who can help look at situations from a variety of angles and offer different perspectives. They can also help shine a light on the areas you do not have expertise in. Growth is often like a hockey stick For most new companies growth does not happen at a consistent level year-on-year. Business tends to grow in two phases. There is the incubation phase where it is about figuring out the offering and the model. After this formative period you can start to sell hard. Growth then tends to occur quite rapidly. If plotted on a graph it takes a steep upward curve in the shape of a hockey stick. Your first 10 hires are the key hires The first 10 people you employ in a new business are critical to its growth and development. But don’t be afraid to lose some of these if they are not suited to the business or do not have the level of passion required. You must have the right team in place once you enter the growth phase.