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Blog posts tagged Advice

Key lessons I learned about starting a business

December 18, 2013 by Guest Blogger

Key lessons I learned about starting a business – Andrew Slack of MoreNiche/Business with Start Up word{{}}Starting a business involves making an often tough, but amazing journey. I was fortunate enough to have started ‘tinkering with the internet’ right when affiliate marketing was just starting to evolve. At that time eBay, for example, would pay for every website visitor they received, even if they clicked straight back off. I could see the enormous opportunities and decided to pursue them.

I completed a degree in computer science before going into business with my best friend, using the money I made designing and selling my first website. I developed a very basic affiliate programme and learned all the basics to being a single Internet marketer, website management, design html and online marketing. I did not know it at the time but this would eventually become MoreNiche, the affiliate marketing company of which I am managing director. We decided to specialize in the growing health and beauty industry.

The business really started to take off and in 2007-2008 we grew sales to such an extent that we broke the £5m per year turnover mark. All our growth came organically from our own affiliate work, but later from partnerships. 

Face problems head on. There is always a solution

We’ve certainly learned lots of lessons getting where we are today. Every business has its challenges. One time I had to work solidly for 36 hours because someone had managed to paralyse our systems, which meant that none of our websites were working. After much soul searching and a severe lack of sleep, I eventually managed to get us up and running again. 

We’ve had numerous other bad experiences, including a credit card processor going bankrupt, which severely dented our profits, as well as a supplier selling us tens of thousands of units of product that simply were not as described. The important thing is that you learn from such things, deal with them and make sure they don’t happen again. 

Success is a team effort

One of the most important lessons I have learned since starting MoreNiche is that success cannot be achieved alone. A business, no matter how big or small, is really just a collection of people working towards a common goal. It’s these people that will either make you a success or not. I have some superstars who have worked with me for many years and I would not be here without them. Rewarding key staff for their dedication is critical.

Never take your foot off the gas

Having the creative freedom and the technical foundation to try ideas out has allowed me to enjoy business and continue to thrive on tomorrow’s challenges. It would be very easy to take the foot off the gas and relax a little, but that’s just not in my DNA.  For whatever reason, I just want to go further.

Blog supplied by Andrew Slack, managing director of affiliate marketing business MoreNiche, which specialises in the health and beauty industry.

Further reading

Coming in August: great IT advice for businesses

May 25, 2010 by John McGarvey

IT Donut logo

I’m pleased to report that the wraps are off: The IT Donut, a new website for small businesses, will be launching the week of 23 August.

The IT Donut will be the fourth in a family of websites. You might already have seen the Marketing, Law and Start-Up Donuts. Its aim will be to demystify every aspect of business technology.

Expect heaps of advice about choosing, using and generally not getting totally frustrated with IT in your business.

I’ve taken on the role of editor (the next few months are looking to be very busy), but thankfully there’s a whole team of great people from BHP Information Solutions working hard on the site too. And because you can’t substitute for first-hand knowledge and experience, we’re on the hunt for experts who know all about IT at the sharp end of business.

You see, when businesses use IT, there’s an ideal world, and there’s what actually happens. The two often differ quite considerably.

The IT Donut isn’t going to live in the plain sailing, smooth running and largely theoretical ideal world. It will acknowledge the situations and challenges businesses face every day with their IT.

Although the team behind the website is packed with experience (I’ve been writing about small businesses and IT for years now), we need people who’ve been there and done it to help us cover every area. These IT experts are the people who’ll really bring the site to life.

So if you know a bit about IT in business, I want to hear from you. You might be an expert in web hosting, networking or accounting software. Or you might be a business that’s experimented with cloud computing, open source software – or gained some other knowledge that you’d like to share.

Whatever your expertise, give me a shout. It’s your chance to be involved in one of the most exciting projects I’ve ever worked on – and to get some great PR while you’re at it.

John McGarvey is the editor of the forthcoming IT Donut and is happy to discuss ideas and opportunities with you.

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