Six tiny business tips from Wilson Vale
Andrew Wilson, co-founder of niche catering company, Wilson Vale, shares six small but beautifully formed tips for those starting out in business.
1. Stick to your core values
Define what your core values are from the outset and stick to them. Start as you mean to go on and never, ever compromise your standards or ethos. Place a value on your values and keep them close every step of the way because your values will define you as a business.
2. Trust your instinct
This is particularly true when it comes to choosing people. If you instinctively feel that an individual is right for the business, go with your gut feeling as you are probably right. Also, invest in the highest calibre people you can afford even though it may be at a time when you can least afford to do this.
3. Get your finance in order
Hire the best finance person you can find and keep a close eye on your balance sheet and profit & loss accounts. Have monthly management account reports so that you are always kept up-to-date with the finances and manage cash flow effectively.
4. Flexible supply chain
Choose suppliers with a shared ethos who reflect your company’s values and quality standards. If possible, work with smaller, family-run companies that offer a more flexible and personal service. If successful, you will have the added bonus of seeing them grow with you.
5. Image is everything
Your branding speaks volumes about your standards so invest in the right image from the outset. Ensure that the colours and style you choose reflect your culture and image across every aspect of the business, from your corporate headquarters to your website.
6. Strong CSR policy
Embed your CSR values and commitments into the business from day one so that it becomes part of your organisation’s DNA. The core elements of a strong CSR policy should be ingrained deeply at the heart of every well-managed company. Doing the right thing at every level not only creates a better working environment and a strong sense of wellbeing, it can also reduce costs and enhance your brand and profitability.