An Interview with David Winterburn
We interviewed David Winterburn about his top advice for start-up businesses.
What is the best advice you could give to someone thinking of starting a new business?
Research thoroughly your proposition and ensure you can make a living from it. Successful businesses take time to develop – can you survive financially for at least 6 months when you are getting your business up and running. Try to ensure the pressure is not on from day one!
What do you wish you had known when you first started your own business?
That it was going to be harder than working for someone else! Also, never underestimate the “distractions of time” when you wear the hats of the MD/FD/CEO, IT Director, Cleaner and Sales professional all in one!
What are your three top tips for growing a business successfully?
- Invest in your Brand – what you market is what you attract
- Invest your time in systemising everything in your business – do it once and then you don’t have to do it again.
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Create a war chest if possible to ensure that you have at least 3 months (preferably 6 months) trading costs covered at any one time in the life of your business...
oh and tip number 3b or 4 is to have fun and smile!
Is the beginning of a recession really a good time to be starting a new business?
Depends if your target buyers can still afford to buy. If you have something that customers/clients need – not just want, then go for it! There is never a good time to start a business that doesn’t offer its customers/clients what they want.
What five words would you chose to describe the characteristics needed to be a successful small business manager/leader?
- Passion
- Enthusiasm
- Integrity
- Empathy
- Charismatic
Would you recommend business incubation for a new business? If so, why?
The survival statistics speak for themselves! I just wish it were mandatory to have at least 2 years in incubation. A wise business owner will listen, accept advice and more importantly be like that 5-year-old child we all know that asks Why? ... all the time!
What do you offer the businesses at the Unit?
Three things really, I either drive them forwards (help, support, motivation) or slow them down (to avoid knee jerk costly mistakes) or I put them back on the tracks. It can be overwhelming and lonely running your own business but it doesn’t have to be.
