In one of our recent posts we have been talking about the SEC2U event that was going to soon take place. Now that the event has actually happened – and it turned out to be a huge success – we wanted to share with you this incredible experience. The event was attended by entrepreneurs and start-ups, private and public service providers and support agencies, business associations and representative organisations, local authorities, and institutions of further and higher education.
After a presentation of the SEC2U project and an insightful introduction on UK start-ups given by Paul Moran (leads the GSM London Formation Zone), the word was passed on to some of the entrepreneurs (current or former students of GSM London), who shared their individual experiences with their own start-ups. The insights given by the entrepreneurs lead to the following activity of the event, which saw all attendees divided into three discussion groups: the SMEs, the providers, the facilitators, with the aim of debating the opportunities and challenges of start-ups. The three groups had then appointed a spokesman who presented the outcomes of their group discussion. Thanks to the wide range of personalities attending and the diversity in professional backgrounds, it was possible to really get some interesting and valuable pieces of advice for all those looking to start a business.
Some of the most interesting and certainly useful advices were:
1. Build your confidence – mentoring is key “you are the only one that can sell your product, therefore you really need to believe in it”.
2. Take advantage of that fact that you live in the age of connectivity – share your products and ideals on social media.
3. Benchmark it – set out your objectives, “know where you want to go”.
4. Take advantage of your peer network or build one.
5. Resolve the space issue, seek advice and find shared spaces provided by facilitators.
6. Focus on marketing- base your business on the customer.
7. Look for help in accounting – speak to an accountant about structure and cash flow (the most important thing).
The event was also live-streamed and live updates were posted on our Twitter – @GSMLondon