I was just musing to myself really, but when people ask me about my business I usually say it's quite new or I only started up recently, but what do you consider a new business? Started within the last year? 5 years? Also, does it put you off if a business is new? I am wondering whether I should stop mentioning it really! Thanks Thanks, Rebecca CV and blog writer Pay for Precision | Saving you time by writing you kick-ass blogs and CVs.
Hi Rebecca, I started up as a distributor 5 months ago. I tend not to tell my customers or potential distributors I'm new to this business unless they ask. As long as you provide them with the facts & figures and your personality shines through, they will see you are a knowledgeable person in your field. Answer to your question is, I wouldn't tell them you're new to the business unless they specifically ask otherwise, you may lose some potential customers
Hope this helps
Wasab. Many thanks Wasab Hussain
Great question, when is a start up no longer a start up? I'd never mention I was a start up. Start up means green, inexperienced with no track record, making any selling more of an uphill battle than it is anyway. Unless it's to get a freebie or a grant In reality, any one can quickly see from a variety of free online sites how old your business is, and if you are Limited, when you filed accounts and how much you are worth. But I suppose 5 years has to be a good yard stick to be classed as an established business. Maybe 5 years is a good yard stick. If you haven't gone bump by Year 5, then you must be pretty safe to do business with
I guess I'd better drop it from my pitch I made a profit in my first year, so that must be good, right? (although also suggests I didn't take much risk, which is very true). Thanks, Rebecca CV and blog writer Pay for Precision | Saving you time by writing you kick-ass blogs and CVs.
“ I made a profit in my first year, so that must be good, right? (although also suggests I didn't take much risk, which is very true). ”
That's the beauty of stats and figures, you can read anything in to it, or turn any number to your advantage. If you only made £150 profit, who cares if you say "your profit margin is over 40%". If you lost £30k, then you are "restructuring your operation which has increased more costs in the short term". All smoke mirrors and cobblers It seems different in the States, you have startups with millions of dollars of seed money, or startups raising second or third round funding. Does anyone see an advantage to being referred to as a start up, or were you keen to move away from the perception of being a start up?
From what I understand as a startup is a recently created small company, mainly related to some new technologies. Thanks, Ralph Manley
“From what I understand as a startup is a recently created small company, mainly related to some new technologies.”
Years ago we came second in the start up category for the 118 awards. We were beaten by Royal Mail So it seems you can just about blag and make anything up these days! |
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I'll hopefully be here in 5 years to officially be successful 
The argument was they had started a new branch of the business offering directory services, so were therefore classed as a start up.
