Advice from Charlie to potential small business owners:

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Artifacts: Be prepared

  • Make sure the business is something you feel passionate about and you enjoy. You have far more chance of being successful if you are personally invested in it.
  • Don’t be afraid to ask for help and advice from those more knowledgeable than yourself.
  • Only expand if it absolutely makes sense to do so – don’t do it just because you feel it is an expected step.
  • Be prepared for tough economic times. Always have money in the bank to cover unexpected costs.
  • When running a retail business, try to turn over your stock as often as possible. If it is moving slowly, find out why.