In this episode we hear from Hugo Chance, founder of Chance Capital.  He shares his recommendation about asking advice from your nearest and dearest is not always the best strategy, and maintains that sticking to your pricing structure and building your support network from the start is paramount. 

Chance Capital is a corporate advisory firm that assists early stage private companies with business planning, pitch preparation, legal services and more specifically their capital raising requirements. With an experienced team of advisors, the team at Chance Capital are well positioned to connect growing private businesses with their strategic network of HNW, Family Office, institutional equity and debt financing investors. Chance Capital always seeks to co-invest on each transaction. Contact [email protected] also hear at Talk VC

Hugo’s advice includes:

• Learn what you’re personally, not just professionally, wanting to achieve by running your own business. 
• Success isn’t just about the bottom financial line. It can be freedom and independence too. Learn what you really value in being self employed.
• Mapping out what you’re aiming for at the end will really help plan the journey in order to get there.
• Put as much preparation into your business as you can; this includes talking to as many people as possible, including other entrepreneurs, to get advice (& they don’t have to be from the same industry either). 
• When updating your records with new contacts, note a distinctive aspect of the meeting to ensure you remember where you met and what you talked about.
• Know you’ll have to be flexible when it comes to time and task management.
• Don’t be a busy fool. Ensure you’re efficiently busy, given you’ll be spinning so many plates.
• Every meeting or call should be necessary, beneficial and have a clear delineated follow up. 
• Learn from every mistake.
• Be resolute in what you charge and know why you’re worth it.
• Late payments can be frustrating. Protect yourself contractually and ensure payments are transparent. This applies to you too.  
• Continue to talk to people in your industry, as often as you can, in order to keep motivated and in touch with your market.  

Thank you for listening, I welcome your feedback at [email protected] 
I would be delighted if you could rate, review and share this podcast with anyone else who may be starting a company in 2020.

Hosted by Juliet Fallowfield, founder of PR for startups advisory, Fallow, Field & Mason, the How To Start Up podcast hopes to bring you confidence, encouragement and reassurance that you’re on the right track.

Recorded, edited & published by Juliet Fallowfield in September 2020.
MUSIC CREDIT  Funk Game Loop by Kevin MacLeod. Link & License

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