We are two! Here's what this two year old has learned.
ECS has been in business for two years. Thank you to everyone who has made this possible - friends, families, colleagues and most of all our clients. Here's the top five things we've learned.
1. Do something you care about
Starting a new business is inspiring and intimidating in equal measure. Think about what you want to achieve personally, professionally and financially. Write it down, walk away and come back to it later. If what you've written doesn't fire you up, try again.
2. Work with people you like and whose values you share
This sounds obvious, but choose your colleagues with care. Disagreements in business are common (and necessary!). Resolving your differences is straightforward if you share the same values.
3. Keep your fixed costs low. Really low.
As tempting as it is to splash the cash on a fancy office, new computers, corporate branding and even a company car, don't. You'll put huge pressure on yourselves and spend more time worrying about paying the bills than serving your clients. And the higher your fixed costs, the more you'll need to charge your clients. Bad news all round.
4. Do buy good professional advice
Our biggest mistake was to use a cheap, on line accountancy service. By changing to a reputable local firm, we've already seen substantial benefits. And we can pop in for a cup of tea and a chat.
5. Do something else
Take the chance to balance your life. There will be times you have to work every hour under the sun (hopefully doing things you have a passion for ). But plan carefully and you can take time to do things you enjoy and care about. Ian is a cycling nut and Michael has returned to acting (and his fine collection of cravats) for the first time in nearly 30 years.
They are currently planning a world theatrical cycling tour, sometime in 2030...