Well done! Deciding to start a company, whether as a sole trader or as part of a founding team of a business you dream of becoming a £B company is a brave and exciting step.
What do you need? Skill, determination – of course. The right team – vitally important. Customers and the knowledge you are creating a product or service they want – seemingly obvious, but often where start-ups fail! Money – perhaps if you cannot grow it organically or by boot-strapping. Mentors – absolutely! There is nothing more valuable than the advice of others who have been there and done it before, ones with stories of failure, traps, difficulties as well as the joys of success.
Tinnoco has a great affection for start-up companies. It understands that cash is often difficult to come by and part with for professional advice. However it understands the value of the advice it has to give. Therefore get in contact to discuss how Tinnoco might help and how you might pay for this service. Remember if you pay peanuts you get monkeys, so do be wary of people who offer to mentor you for free – chances are they are either not that good, or you will eventually find yourself paying a high price when they come to cash in on their help.
Some of the most important steps to consider
There is a lot to think about and to do when starting a company whether on your own, with a team, as part of a university spinout or an offshoot of a parent company.