Building a Business in Lockdown | What Have We Learnt?

Building a Business in Lockdown | What Have We Learnt?

Jun 8, 2021 | Ben Davies

“It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better”

I am particularly fond of an emotional speech at a wedding and can recite many a great piece of sporting commentary, but I have never really been someone who lives by inspirational quotes in the work environment. 

That said, the above quote is taken from a gift I received from someone very close to me when we first set up Hexa Finance. The poignant quote about “Daring Greatly” now sits proudly on the wall of our office and serves as a timely reminder of the courage needed to start a new business. Whilst I always hoped I would be able to make that decision if I am being 100% truthful for the most part, I favoured the security of employment and wondered if I would ever take the leap.

So, what changed?

Circumstance, Timing, Confidence, Support, Encouragement, Planning, Experience, Opportunity

It was a combination of all these factors (and probably more) that led to our decision of starting Hexa, but if I had to pick three it would be:  Experience + Timing = Opportunity 

Oh, and a lot of planning and supportive partners

Key things we have learnt

If I look back at the other blogs in this series, it is easy to pick out some key things that we have learnt during the first 6 months of Hexa. 

Forward Planning – Do not underestimate how valuable the planning phase is when starting a new business. Creating a well thought out business plan is one of the best pieces of advice I would give to anybody thinking of turning an idea into a business.

Build Relationships – Building relationships are essential to the success of your new company. It is tempting to keep your ideas to yourself, but from my experience sharing ideas and information with people can help you validate that what you are doing is right.

Values & Goal Setting – These two important things give you focus and a purpose. I am proud of what Hexa stand for and look forward to the challenge of meeting/ exceeding our goals.

Efficiency – Decide how you want to spend your time and how your time is best spent. For Hexa this is not travelling around the country every day, but it is providing a quality service that our customers appreciate.

What would we do differently?

On the whole the first six months of Hexa have gone well, but of course, we have learnt some valuable lessons. One of the main things we have learnt is to not have a preconceived idea of how processes work. What I mean by that is it's not always necessary to create the perfect processes before you start something as you might find a better process once you have traded for a while. The same goes for purchases and investments you make. It can be tempting to make sure you cover all bases with technology and the like, but sometimes you do not need certain things right away and that money would have been better sitting in the bank. 

Anyway, nobodies perfect and we certainly aren’t but we are learning and we are “Daring Greatly”.