1. Passion and Belief
Arguably the most important traits of all. Going from an idea to a fully-fledged business takes long hours, numerous battles and a relentless desire to make things happen. That motivation comes from a deep passion and faith in the idea.
2. Hard work
Without determination and hard work, dreams are just fantasy. When opportunity strikes, it can’t be taken for granted – it’s important to seize the moment and put in the hours. Even now I can still be found with my sleeves rolled up and working on a printing press when the need arises.
3. Willing to take risks
Putting self-doubts to one side and taking the plunge can be challenging for people. Uncertainty is part and parcel of the life of an entrepreneur so it is important to be comfortable with taking risks, often without knowing the full picture.
4. Challenge the Status Quo
My overwhelming driver is not to accept the status quo. The number of times I’ve been told something can’t be done just encourages me to prove them wrong. It keeps me moving forward and looking to what’s next for the company.
5. Adaptable and Flexible
While challenging the status quo is a good way to break new ground, few businesses can survive without being able to adapt in some way for their customers or their industry. Entrepreneurs can be a stubborn bunch but flexibility is often key to success.
6. Money Management
Always keep a tight grip on cashflow. Beyond that, obviously the aim is to make a profit but how you use those profits is critical. We reinvest profits back into the company to drive growth, be that from increasing productivity to improving efficiency and profitability.
7. Always Learning
Don’t mistake self-belief for thinking you know it all. I recently realised that to grow the company in the way I want, I also needed to invest in myself. Last year I began a course with the Academy of Chief Executives. Meeting like-minded people has been invaluable, sharing advice, mentoring and providing practical tools I can take back to the business.
8. Seek Support
As a company grows, knowing when to let go and seek help is hard for an entrepreneur. Recruiting and retaining a talented senior team is vital to success. Building a strong community of Brighton business contacts has also been hugely rewarding in unexpected ways.
9. Take Time Out
Sometimes it’s easy to get too close to things which can cloud your judgement. When I need inspiration I have to step away; generally a good ride on a motorbike or a game of squash helps to give my mind the chance to reboot. Being involved with charities like Rockinghorse can also lend perspective when the pressure’s on.
It is pretty much guaranteed that there will be failures along the way. Sometimes you have to know when to call it quits and try a different direction. The resilience to recover quickly from adversity and turn it into something useful is what sets entrepreneurs apart.
Globally recognised as the leading authority on ticket advertising, Ticketmedia in Hove works with SMEs, big brands and media agencies, providing effective solutions to reach a variety of different consumers.
With a turnover in excess of £5m and employing 25 people, Owner and Managing Director Jeremy Burbidge is one of the city’s most innovative entrepreneurs.
Telephone: 0800 0286778