Building Better Businesses: The Importance of a Strong Foundation

Building Better Businesses: The Importance of a Strong Foundation

It feels as if we see more and more high-profile tech businesses folding, leaving a wave of job cuts and lost investment in their wake. With the cost-of-living crisis on the rise and investors tightening their belts, it’s understandable that another tech start-up failure would cause concern among founders. This is especially true in the South West, where investment has historically been more difficult to come by. However, there are steps you can take to build a strong, scalable business, despite the challenges in the environment at the moment.

  • First, focus on building your network. A strong network enables access to resources – funding, support, and talent can all be accessed through developing a substantial network in your local start-up community. Get stuck into local networking events, attend start-up events, and get in contact with local organisations to start getting into the local start-up scene.
  • Second, make sure you’ve built a robust business model for your start-up. Although flash and talk can raise investment initially, strong business models build the businesses that last. Ensuring your business is built with a solid business model allows for sustainable growth and can scale successfully. This sets the foundation for a start-up to grow successfully overtime.

The SETsquared Exeter Entrepreneurs Workout (EW) is an opportunity to address both your networking needs whilst helping you develop a strong business model. Spread over two days, this intensive workshop helps early-stage founders develop robust business models, whilst enabling peer-to-peer learning with other founders. Facilitated by expert mentors, the workshop takes founders through the building blocks that founders use to construct the business models that will take their start-ups forward.

Founders consistently highlight how useful the EW has been for their businesses. A recent EW participant commented that is
“… has been very good support and the sign posting has been incredible. Helping us grown the business with ideas has been amazing.” Whilst another commented: “It was worth the time spent to do the exercises and also interact with others in the workout. Thank you for the opportunity.

The EW if fully-funded and is open to Devon-based businesses. If you’re interested in joining in on the next Entrepreneurs Workout, check out SETsquared Exeter on LinkedIn or Eventbrite.

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