42 BUSINESS
that people compromise their standards, sometimes in a new business you have to be flexible and adapt.” One local start-up that has adapted and thrived
is Arty Globe, which features the work of artist Hartwig Braun on everything from prints and stationery to homewares and jewellery. “Getting into business is not for the faint hearted,” says co-founder Isaac Lilos, who started out from a stall in Greenwich Market before expanding into a shop. Since its launch in 2008, Lilos says Arty Globe has seen a 15-fold increase in turnover. Greenwich asked Lilos for his tips for budding
entrepreneurs: “Don't feel pressured to get it right at the beginning. It will take a while to find the right way. Just start somewhere and work your way towards your goal and vision.”
“It’s okay for things to not go to plan – sometimes it’s better if they don’t. It gives you the chance to find out something new about yourself, your abilities and your business. When things don’t go as expected you can learn a lot about making your offering – and even yourself – better. You may find opportunities you didn’t even realise existed.”
“The business plan is far too hyped these days. If your bank requires one then by all means sit down and do it but be prepared to have an open mind and a lot of flexibility because you’ll more than likely be carried on a different path than the one you planned for.”
“Profit is important long-term, but what's more important at the beginning is to test products to make sure they sell even if the margin is not great. You can find ways to improve the margins later.”
Hartwig Braun at successful Greenwich Market gallery start-up Arty Globe
Getting started:
www.seenterprise.co.uk
This includes details of workshops, leading to one-to-one sessions between advisers and would-be entrepreneurs in Greenwich and Lewisham.
www.businesslink.gov.uk This government-backed site offers a range of general advice on starting a business.
www.greenwichgateway.com Local businesses can raise their profile by listing free of charge on this site, which attracts 1,500 visitors a day.
“Even though the web is celebrated as the best way to start a business these days, I think setting up a market stall is a much better way to start as it gives you immediate and direct contact with potential customers and their honest – and sometimes necessarily brutal – opinions and feedback, which if you take them on board could help you on your journey.”
“If you, as a designer or maker, find that some hand-made items sell really well, don’t be afraid to find someone else who can make them for you more cost-effectively to free up your time to work on new designs and on your business. If you keep making everything yourself you can get into a trap of not innovating often enough and eventually stagnating and burning yourself out too.”
“While it is important to focus on your destination, it’s also very important to make the most out of the actual journey and appreciate that on every step – up or down – along the way there are valuable lessons and priceless knowledge to be gained. Make the most out of it.”
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