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The Best Advice we have been given

We started Uni Car Ads Limited 8 months ago. We have been given lots of advice - some good, some bad. The other day whilst speaking at Newcastle University, someone asked us what was the best advice we have been given?

Here goes.

1) Play up on the fact that you are young and naive

Whilst you can ask questions, do it. If you don’t understand something; ask about it - you have only been in business a couple of months so people will not expect you to know all the answers. You will look stupid in 5 years time if you still don’t know what it is. People love giving advice and explaining things that they know a lot about. They will talk and talk and you can simply absorb the information.

2) Pay the full amount

A funny one but, if you drive people down hard on the price you will become a “Groupon” customer and receive a second rate service. It depends what it is, but if it is vital for the business and there is a tight deadline, then pay the full whack. This means if problems occur you can pressurise them more to sort it out. The fact that we have often managed to receive matched funding reduces the hit we have had to take.

3) Look around for free stuff

Who wouldn’t, but lots of people don’t! We have received £500 in Start Up grants from Newcastle University - when you have no income £500 goes a long way. Grabbed some free tables and desks from a large old office. Take up offers of free advice from professionals. When you pay for anything see if you can get matched funding for it. Also, look for free or cheap office space. We share an office with another growing start up, sharing rates. Get free banking for 12 months then change to another bank in the 11th Month. Enter business competitions, they are not massively time consuming and you can win thousands of pounds. We have won over £15,000 over the last 8 months.

Matched Funding - http://www.investment4growth.co.uk/ Free office space - http://www.startuploans.co.uk/

4) You have nothing to loose

Call someone everyday for several weeks if you need to. They will eventually pick up, if they tell you to go away you have not lost anything, as you never had them. You cannot loose anything that you don’t have.

5) Don’t listen to the majority of advice and opinions you are given.

If you take on board every bit of advice you are given, because you will end up going around in circles. At the end of the day it’s your business and your vision so follow your heart. People love to give advice - whilst a lot is good advice don’t listen to it all, it will always be contradicted by someone else.

This was posted in Bdaily's Members' News section by Uni Car Ads Limited .