James Martin's Rules for Scaling Fast | Backed by Funding Circle

0:00Welcome to the BBC and on this episode we'll be doing things really important and really discovering. this episode is brought to you by funding circle business finance that backs you james martin we have a meeting for the ninth time this this this two day well the two days we've spent quite a bit of time with each other it's lovely to see i need to get away from that it's becoming a bit of a uh a legend of that we are so we've joined at the you've grown on your siamese twins yeah but we have a meeting um big open question who are you what problem do you solve I'm an entrepreneur for over we worked it out the other 48 years I've owned companies registered to me and I have failed and I have won and I have scaled bought companies built companies built teams got rid of partners because they've done me over and I have ripped scars where I believe now with James Martin entrepreneur I can give back some stuff and teach some people how to not fall over and crash but they can trip and have some mini scars but not real deep ones these are rapid fire very serious questions yes are you ready for the first one what do business owners need to understand about cash flow that it is key and they need to be daily be able to do the numbers and if they can't then they shouldn't be in business what should someone know before borrowing money in business how much it's going to cost them who's lending it to them and what they're going to do with it?

1:30It's my first day starting my business. I've quit the day job and I'm going all in on the idea. What's the first thing I should do? Study the market that you think your great idea is going to do and what problem it's going to solve. And are you just going into a saturated market already? If you had access to everybody's ears here today, what's the best piece of business advice you'd pass on? What got you here won't get you there. Educate yourself. What business advice is overrated and people should ignore?

2:05Make sure you take advice from professionals, like accountants and lawyers and stuff. They are too safe. They're the wrong people to ask advice from. What's the most underrated skill in business? Your gut, your tummy. What separates the people who make it, get the exit, get the success from the people who don't? They've got to be driven and they're blind with blinkers on and all they can see is the future and they don't let what's happening to them today interrupt with their laser beam future vision of what they're going to do and who they're going to be. Nice. And then final question. If I was going out tomorrow and trying to win my first customer, what advice do I need to know?

2:48work out who that customer is and what they look like and where they live and go and find them like an assassin and get just don't don't give up until you get them as your customer amazing james martin you're the best favorite we love yeah i know thank you very much anything else you want just let me know you've got my number yeah this episode is brought to you by funding circle to find out how you can get fast fair and hassle-free finance for your business visit fundingcircle.com