Earlier this month, Small Business hosted a Twitter Q&A with Dragons’ Den star and retail entrepreneur, Theo Paphitis.
Here’s a roundup of some of the best small business advice he had to give.
#1 – Photography is key for social traffic
When asked about social media and how to gain traffic, Theo says to find success, you must be able to use photography to your advantage, and when social media is adequately mastered, it can mean big bucks for your business.
#2 – Hone your investment pitch
Theo also highlights the importance of remaining clear and concise inside any investment pitch. Entrepreneurs need to get straight to the point, not ramble on.
#3 – Use your local university as a resource
For those budding business people wanting to get started, Theo points out that universities have a lot of resources and schemes to help you get started and help you evaluate your small business ideas.
#4 – It all comes down to passion
And lastly, Theo points put that one of the key parts of business is all down to passion; passion will get you through the tough times and well as propel you through the good.
#5 – Know more about your business than your competitor
Knowing about much more your business sector than your competitor will give you the upper hand also.
#6 – Let your consumer know why you’re the best
If your product is at a higher price range, you need to let consumers know why your product is worth shelling out the extra cash for, and why they should choose you over your competitors. You need to make clear why your service or product is better than the competition.
This Q&A was so popular that we didn’t get time to answer all of your questions. Keep an eye on our Twitter feed where we will announce any upcoming Q&As.