Tristram Mayhew, “Chief Gorilla” at popular forest-based leisure adventure attraction Go Ape, provides his eight top tips on how to be a successful ‘On-tree-preneur’.
1 Find a business opportunity that you enjoy
If you do something you actually love, you're more likely to be successful at it. It will be fun rather than just work and your natural passion and enthusiasm will rub off on those around you. That can make all the difference.
Starting a business is probably the single most risky financial adventure you are ever likely to make. You can minimise the risk of failure by learning from the wisdom of those who have gone before you. There is a library full of great tips and advice that, for just a few pounds, might save you tens of thousands of pounds. One book that I recommend is Guy Rigby's From Vision to Exit.
Once you have got through the start-up phase, if you want your business to really take off you need to give it some rocket fuel. I put Go Ape through Cranfield School of Management's 'Business Growth and Development Program' (BGDP). It takes four weekends over eight weeks and is only for owner-managers. It is a potent mix of practical theory and case studies, which you then apply to your own business. The 30 or so other owner-managers on the course work on your business with you, and you on theirs, their advice and experience was invaluable. The BGPD was worth every penny. It was the point when Go Ape grew up from being a good idea into a great business. Our growth and profitability took off after that.
If you know where you're going, you're more likely to get there. So come up with a plan for your business. Be bold. Go for some big, hairy goals. It needs to inspire your team and your customers, and ideally put fear into your competitors. It should set out your vision, mission and tactical plan. Once you have worked out where you want to go, ask yourself what you have to do for that to happen. This will become your 'to-do' list.
5 Delegate and empower
If you are to manage rapid growth successfully, you must bring on a great team. You can't do it all. Unless you can make yourself redundant, you won't have a business that can truly grow, nor will you have a business that you can sell. Encourage your team to take entrepreneurial risks. Don't punish them if they make mistakes, but praise them for trying. If you recruit good people, when you drop them into the deep end, most will swim rather than sink.
6 Become a strategist
One of the main lessons from Cranfield is that you have to stop being the 'Hero' (ie someone who makes all the decisions in your business), because this limits your businesses growth potential. You need to become a 'strategist' and work on the business not in it. Your job is not to do the heavy work, but to look ahead and guide your business around obstacles, coaching, encouraging and motivating your team as you go.
Running your own business can be quite lonely. Getting to know other people who are in the same boat can be a great source of encouragement and advice. There are lots of clubs and social events for entrepreneurs, so try out a few and make the most of the advice and support on offer.
8 Enter business awards
If you are aiming high and want to be the best, why not enter some business awards? Entering the National Business Awards is a great test to put your business through. The Application process makes you take a long cool look at your whole business. Whether you win or not you get feedback on how well your business scored in a number of key areas, which helps you target improvement. If you do win it's a terrific morale boost for your team, and also introduces you to a stellar network of useful contacts and leading entrepreneurs. Entrants for the 2013 National business Awards need to be submitted before 31st May.