Think laterally
If your business model is not working, keep changing it until it does. You need to be flexible to survive. If you don’t know what is wrong with your product, ask your customers.

This also applies to getting funding
If the bank will not lend you money to buy equipment, then think backwards. Secure an order with a big customer and then the bank manager will suddenly be a lot friendlier.

Don’t be too proud to ask for advice
Join your local chamber of commerce, go to CBI networking events, check out the website of the Department of Trade and Industry. Talk to other entrepreneurs. Information is power and is never wasted.

Treat every failure as a learning experience
Analyse what went wrong, then use the information to find out your strengths and weaknesses. And don’t take failure personally.

Remember that there are no rules
If becoming a successful entrepreneur was easy and straightforward, we would all do it. Make your own rules.

Explore Entrepreneur

• SME

• Start-ups