What does it take to start a business? How do you scale? What distinguishes successes from failures?
Every week on the Sage podcast Good adviceEntrepreneurs and entrepreneurs answer exactly these questions. After three seasons, it’s time to look at the similarities that guarantee success.
Read on to discover the secrets to running a successful business from entrepreneurs just like you.
Whether you’re a podcast fan or not, if you’re reading this, you’re probably either an aspiring entrepreneur or have already taken the plunge into starting your own business.
Each week across three seasons, the Sound Advice podcast interviews fascinating guests with business stories worth sharing.
There are three key lessons that unite guests, whether they’ve started a subscription business from their bedroom or opened a brick-and-mortar store on the high street.
In this article, five of our most popular episodes will help explain the success secrets you need to get out there and make it for yourself.
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James Mansfield: Start an online business with a single cow
This episode is a must-read for any aspiring entrepreneur looking to start a subscription business model. James Mansfield, co-founder of Field&Flower, shares his journey to building his company from the ground up.
He talks about the importance of listening to customers’ needs, building strong email lists, understanding the competition, and learning every aspect of the business.
James offers a unique insight into the challenges and rewards of running a subscription business and gives you plenty of food for thought.
Julien Callede: How to start a scalable business from day one
Julien Callede, CEO of Made.com, is here for the e‑commerce evangelists out there. In this episode, Julien gives a captivating insight into the beginnings of Made.com, one of the most successful online furniture retailers.
He explains the importance of aligning your business with your purpose, the role technology plays in scaling operations, and the importance of resilience when something goes wrong as you scale a business. This is definitely something you can enjoy in your armchair while thinking about the strategy for your startup.
Natalie Bamford: Build a £1m mail order business from £0
Natalie Bamford shares her journey to founding Colleague Box, a mail order company that achieved £1 million in sales in just five months. She talks about the importance of anticipating growth, hiring smart people, and maintaining a healthy work-life balance.
Her story is a testament to the power of determination and smart business strategies. Tune in if you want to learn how to best handle rapid business growth.
Simon Squibb: Secure investment for your dream company
If you are an aspiring entrepreneur, put this episode at the top of your must-listen list. Simon Squibb, Serial Entrepreneur, shares his hard-won insights on securing investments, crafting successful pitches and understanding the investor mindset.
He talks about the importance of building resilience, understanding what investors want to see, and the difference between building a brand and building a company. You’ll be in line for his famous Pitch doorbell in no time!
Zoë Chapman: From my one-bedroom council flat to the dragon’s den
Zoë Chapman shares her inspiring journey from her one-bedroom council flat to marketing her business on Dragons’ Den. She talks about the importance of defying all odds, building a unique company, and how neurodivergence can provide a new perspective for innovation.
As a single mom with a limited advertising budget, Zoe shows the importance of building a community on social media and how the right influencer support can make or break your business. One for all single parents who have a hot idea in the background.
3 lessons from entrepreneurs
Maybe you want to open a cat cafe, launch a new product, or offer an online service. No matter the new venture, these three topics are critical to running a successful business, as our entrepreneurs show.
1. The customer is the focus
Customer centricity is a term that’s used a lot in the business world, but essentially it means putting your customers at the center of your business. Try to truly understand their pain points and needs and address them with your product or service. If you don’t listen to your customers’ needs, there’s a good chance your business won’t succeed.
“Our customers helped us make these decisions. So that was leading the way and trying to understand how people use our products. The feedback we received led us to subscribe.”
James Mansfield
2. Resilience and willingness to take risks
Starting a business always involves one risk or another. It takes someone with a special risk tolerance to thrive in this uncertainty. Trying to make a business successful also comes with many ups and downs. Developing resilience and the ability to bounce back after failure is one of the core strengths of a successful entrepreneur.
As Simon Squibb puts it:
“The reason I am successful today is because I took a lot of risks. In the early years I had no choice but to take a risk.”
Simon Squibb
3. Innovation and adaptability
The last few years, including during the Covid-19 pandemic, have been a special test for the agility of entrepreneurs. At the heart of most successful companies is the willingness to evolve the product or service based on real feedback (both from customers and the environment). It’s one thing to build a successful business. It’s another thing to create a lasting legacy that comes with innovation.
“At some point you will reach the tipping point where your company is secure enough and the team you have will not only be able to run it safely for the rest of the company’s life, but will also be able to innovate You, challenge it.”
Julien Callede
Final thoughts
Listening to other entrepreneurs’ stories and learning from their successes and failures is a wise course of action for any aspiring entrepreneur.
Ultimately, however, success often comes from personal experimentation. When you have a great business idea, start researching everything you need to know, such as:
Then take the plunge, just like the guests of Sound Advice.
Who knows, maybe one day you’ll even be featured in an episode with your own success story. Good luck.
