Bottom stain Coffee stains
Lyndi Lawson

10 Tips for Turning Your Big Idea into a 10 Year Success Story

by Lyndi Lawson

2009/02/24

It takes a few steps to turn a big idea into a business.

Lyndi's big idea is about cleaning (no not really). (Image by Riot Jane under CC)

Lots of people have big ideas.
But if jumping off the garage roof, aged 6, with a parasol in the hopes of flying taught me anything, it’s that there’s a big gap (excuse the pun) between thinking big and successfully implementing big thoughts.
It’s not only that many people have too much common sense to go forth and conquer the world with their brainwaves, it’s also that the world is not an easy place in which to make big things happen. There are just too many people with too many good ideas, all trying to make them come to fruition at the same time.

So, with this in mind I chatted to our CEO, Mr Stokes about the advice he would give today to his 20 year old self and the steps he followed to make Quirk what it is today. He had these pointers to offer:

1). Persevere
In the case of business, it is not so much that good things come to those who wait, as that good things come to those who persevere. It is not easy. In fact, often it will be downright hard and you may doubt the wisdom of your endeavours. You can be sure though that, were it a worthwhile project to begin with, perseverance will go a long way toward ensuring the payoff that you are hoping for.
 
2). Innovate
The world is a competitive place and while many individuals and businesses can survive off the back of other’s innovations, they will always be less successful that those of you who continually strive to be innovative leaders in your field. It is better to try your hand at something new and make a mistake than to merely follow industry trends year after year.

3). Pick the right clients

This is crucial. Think carefully before you sign contracts with prospective clients. Some clients may seem impressive; big brands with the potential to generate big revenue for example. The truth is that this is not always the case – that client you were so desperate to land might end up costing you more than they are worth in the long run.

4). Watch your costs

Economies and opportunity rise and fall but the principle remains the same: be frugal and keep an eye on the money. We’re not advocating stinginess mind you… just a need to be wise with what you have. This means building up some extra padding around the edges when times are good, so that when they aren’t, your business will not be one of those that suffers.
 
5). Choose your business partners wisely
It is important to choose business partners who complement you; filling the gaps in your knowledge, while bringing a new perspective to the table. To quote David Ogilvy: “…surround yourself with partners who are better than you are…”

6). Be free with information
Without being too fluffy bunny about it, good business is often largely about reciprocity. In order to receive, you have to be prepared to give. Being free with information is good for everyone - it builds credibility for you and expands the skills within your industry. Don’t share everything though; keeping the real gems close to your chest will ensure that you get the best clients and the best results.

7). Make sure yours is a good place to work

It’s your staff who make the wheels of your business turn. You therefore need to cultivate a place where people want to work. This is not only about the money (although of course that’s part of it). It’s also about creating an environment in which people can find their niche, better their skills and feel like they are bringing something meaningful to the mix.

8). Act fast

No matter how much you grow, never stop thinking like a small business. This necessitates seizing good opportunities before someone else does, and running with them. The value of speedy and nimble actions cannot be underestimated.

9). Evaluate your opportunities
Bearing in mind the last point, also know that not all opportunities are created equal and seizing those that are presented to you can be costly and may not be worth the payoff in the end. Thus, as you grow, it is necessary to be discerning and evaluate opportunities carefully in terms of the costs and benefits they will generate.

10). Measure everything
And when Rob says measure everything, he means everything and right from the word go. Getting into the habit of doing this early on will stand you in good stead as your business grows and evolves from the 1 or 2 man show you are running out of someone’s garage into a lasting, sustainable and profitable enterprise. 

Comments

Thank you so much Rob. Especially for points 3 and 6. I had been running a small branding outfit since 2005 and was under the impression those problems were unique only to the design&branding sphere. As a very new entrant to the emarketingsphere (company launching soon) I get loads of value from pointers like the ones above.

Quirk has really been doing some amazing stuff.
Keep on doing amazing things guys.

You're a real inspiration.

Posted by Arthur C. Van Wyk on 2009/02/26

Thanks for the kind words Arthur. Best of luck with your new adventure!

Posted by Rob on 2009/02/26

About "6). Be free with information"

Do you mean sharing information in general to everyone, like the way you provide your ebook under creative commons license, or do you mean mostly just with prospective clients?

Posted by Bob on 2009/03/01

@ Bob - within reason, share with everyone

Posted by Rob on 2009/03/02

Make a comment

To prevent GottaQuirk from becoming spam central, we block the use of certain words like porn, sex etc. We apologise for any inconvenience, but can't spend our lives deleting messages left by spammy friends.

Captcha
 
Afrigator