Speak to someone who has started a business and there’s a good chance that they’ll tell you that the first year was a blur of scrambling, desperate activity to keep the business afloat.
Conversely, this period is often the most invigorating and innovative period in a business’ life. However, in order to build a long-term proposition, a new business must learn from its initial challenges to good effect in its second and third years.
Today, to mark StartupSmart’s second birthday, start-up entrepreneur Jason Rose explains how start-ups should emerge from their initial period of “intensive care” if they hope to last the distance.
Once you’re growing and expanding, what should you do if your margins become wafer thin? Sharon Thurin, founder of Victoria-based nutrition snack business Slim Secrets, explains how she beefed up profits after going global.