by Industry Leaders After working in various sectors and taking lessons from each, Ollie Collard created his own consultancy business, supporting Founders in starting and growing their companies. Ollie talks to The Industry Leaders about the importance of entrepreneurship in the UK and where you should look to find riches. How did you end up sitting where you are today? I was born in India, where my mum helped set up a Fairtrade organic cotton clothing business in the 1980s.
Focus on your customers' biggest problem Developing a new product is an exciting time for start-up founders, especially if the market and consumer research has revealed a real opportunity. Fundamentally customers want fixes to their problems. But you need to ensure you’re solving the right problem and there is a business behind it, e.g is the problem you’re solving big enough? You need to get inside the head of your prospective customers. What are their aspirations, life goal
The current business environment has made it easy for anybody to start a business. But this doesn't make it easier to build a successful startup. Up to 90% of businesses don't make it to their 5th birthday! Is there any set recipe that makes a startup successful? If not, then, at that point, what are the variables that count? Again, the response lies in a fascinating mixture. Execution The idea is only 1%. The other 99% of building a successful startup lies in execution. Ther