Tips From Years In Business

7 Know your customer/client

In the same way as knowing your competition, it is essential that you know your customer/client inside out, in order to provide an optimum service. Take the time to understand the needs of your customers and react accordingly. The benefit of being a small to medium sized business is you can react quickly and be dynamic.

6 Know your competition

This may seem obvious, but it is vital to know who your competition is, what it looks like and how it sounds. As the saying goes, “keep your friends close but your enemies closer” – every one of us faces competition on a daily basis, even if we do not realise it.

Don't just research what is already out there; it is crucial to always monitor threats posed by both current competitors and new entrants to your market.

4 Mistakes are what make us human: learn from them and move on

Being a firm believer in not having regrets, I would not do anything differently in my career. de Poel’s proprietary software solution, e-tips, was revolutionary at the time I launched the business, and is now a proven technology which has processed over 2 billion hours. However, ADD and Permport, two complementary software solutions did not have the same success and cost me a nearly a quarter of a million pounds.