Starting a new business is challenging, but doing it in London is even more demanding. Quite simply, the Big Smoke has obstacles and pitfalls that only exist in a vast megalopolis like the capital. And, if you let them, these dangers will destroy a startup before the owner has time to blink. Of course, London is also a city of opportunity if you get it right. So, is there a way to land somewhere in the middle and thrive? Yes, there is if you consider the following tips.
Step 1: Find The Right Offices
There are some expenses that a firm can’t afford to get wrong. Usually, an entrepreneur will focus on tax and labour costs as they are the two greatest costs. But, in London, it’s essential to concentrate on your headquarters. Every successful company in the Smoke has offices, but most premises cost a small fortune. Choose poorly, and you will be stuck paying an extortionate lease for the next couple of years. Thankfully, resources like London Offices are on hand to help. Or, you can opt for an estate agent whom you trust. Either way, don’t do it alone unless you have the relevant experience.
Step 2: Watch The Competition
Even the smallest towns and cities are full of rival firms looking to get ahead in the industry. It’s just the way of the world now that entrepreneurs are using the Web as a loophole. A big city, however, is a different animal altogether. In simple terms, it is almost impossible to comprehend the amount of competition within the area. Even the firms that don’t seem like a threat aren’t friendlies because they will throw you under the bus. All you can do is watch your rivals like a hawk, and react whenever they make a move. Hopefully, this tactic will stop them from gaining an edge and disappearing into the sunset.
Step 3: Hire A Lawyer
Because of all the business owners in one, small area, there is a lot of egotistical BS flying around. People that work in the industry are competitive, and they will do anything to gain an edge. As a result, lawsuits aren’t uncommon in the major cities like London Town. In fact, they are pretty much compulsory. So, when one does land on your doorstep, it’s vital to be ready and react with a clear strategy. For obvious reasons, the only way to is through a business lawyer. That is, of course, unless you have passed the bar, too?
Step 4: Develop A Strong Mentality
For those that can’t take a hint, let’s be blunt – London is a war zone. And, you need a warrior mentality if you’re in a war zone. The business and its leader need to be able to fight battles on every front, which means the right attitude is paramount. Anyone that isn’t ‘right in the head’ isn’t going to last very long. Although it sounds cynical, only trust the people you’re sure of, and don’t overstate the value of loyalty.
After all, it’s only business – it’s not personal.