3 Things every start up needs

 

By Paola De Pascali

Start up  - Featured image

Making the transition and starting a new business in this economy may be tough, but with proper planning you can make it a lot easier on yourself. Before launching any product into a developed market, you need to fully understand the market, choose the right brand and do your research.

I met with Dennis Busano, an Italian entrepreneur with more than 5 years experience in trading Italian food and beverages in the UK, to have a chat about his business, his perseverance in launching a business into the crowded and highly competitive food and drink market, and to get some advice on creating a start up in London.

Busano founded Luadan Future Trade Ltd in 2014 with a commitment to provide UK based clients the highest quality coffee.

The value of a niche market

Busano explains that when launching any business it’s normal to look at your competitors – but in a highly competitive market such as food and drink, comparing yourself with huge international brands will do little to raise your confidence. To win in business, it all comes down to finding a niche market to target. Busano found that getting his target market right allowed him to have a one-to-one relationship with both his corporate and retail customers.

“Being a niche player allowed us to follow our customers step by step, fully satisfying their needs with the unique features of our product.”

How to overcome obstacles on your path

You will of course meet many obstacles when setting up a new business, especially if you are a small family run business – the main problem is finding potential customers.

“Making connections with clients, including powerful people, is part of your job,” Busano said.

“Of course it’s not easy at the early stages of your business, but if you use word-of-mouth, you can do it”.

Busano further adds that in order to strengthen your business, you must focus on building a trustworthy relationship with your customers.

3 simple things a start-up must have to succeed

If you want to pursue being an entrepreneur, Busano lists 3 factors that you have to take into consideration: humility, patience and self-awareness:

1. Humility
“Surround yourself with genuine values like modesty when starting from the bottom. If you strongly believe in your project, don’t be shy. Plan everything to make your dream come true. But you must be a realist; evaluating each and every aspect of your project.”

2. Self-awareness
“Running your business, especially in a start up phase requires a certain discipline. You must be in control of yourself, decide how many hours you will work and how much money you can invest into your business. But recognize your limits and act within them.”

3. Patience
“The London market can be harsh toward entrepreneurs: if you wrongly invest your money, the market penalizes you. Thus, if you are seeking investment, be patient, keep working on and pushing your business  forward.”

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For more information about Dennis Busano visit: www.luadanft.com

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