Partner Article

Tim Campbell's advice on knowing your onions

Jacking in your day job to start up your own business is a dream held by millions of us, but while the fantasy of being your own boss, setting your own hours and doing what you love is what drives many people to go out on their own, the reality may not be as idyllic as the dream.

That’s according to new research released by WorldPay which shows that while the majority of small business owners are glad they set up their business, they quickly learnt that it can be a hard slog to make the venture a success.

Tim Campbell comments, “There’s an awful lot of interest from individuals wanting to start up their own business and that is brilliant for this country but what the WorldPay research is also showing is that people might not understand what it takes to actually run a business on an ongoing basis. You’ve got 38% of people interviewed in the studies saying that they work 6 – 7 days a week and some of them may of gone into it thinking they can do it on a 9 – 5 basis, have a little break, take some holidays, when actually it takes an awful lot to get a business off the ground.

When you’re starting out research, research, research it’s all about making sure you’re doing something that you know. The term is know your onions, so do something that you have got a talent or skill about, not just something you would like to do, something you already know about and do research. Go and use facilities, there are free facilities at the library where you can go check out the data about what is happening around the marketplace you are trying to break into and talk to people, don’t just try and hide it and keep it secret. A common misconception is people thinking, “I can’t tell anybody because they going to steal my idea.” It will be ok believe me, go and talk to people, really get their feedback and understand what it takes for your customers to be happy not just for you to be happy, that’s my tip for success.”

This was posted in Bdaily's Members' News section by Broadcast Exchange .