Five business lessons from nails inc founder Thea Green

There's never a bad time to launch a great business

If you have a great idea and you really are bringing a different proposition to the market, you can do it. I do think it is a difficult time to be a "me too" business at the moment unless you are just coming in on price.

It's always been hard to get investment. When we launched it was difficult to get investment as a non-web business, but when the bubble burst a couple of years later it would have been easier. I think it is always difficult, but if the idea is great it is always the right time.

At the end of the day most people only need one investor.

Employ brilliant people

Never be afraid of employing people who are smart and who understand the areas that you don't. You should always employ people who are great at dealing with the issues that you are weak at.

Hard work pays off

We were lucky in the way that nails inc instantly became popular and we were busy straight away. But as great as the idea is you need to work hard making the back end of the business operate well. Financially this took a bit of time and a lot of hard work.

It helps to have worked for somebody

I think it is very difficult to start a business if you have not worked for someone. It just means that somebody can help you work out your strengths and weaknesses.

Having said that, I would encourage anybody with a great idea and the real desire to go for it. But go into it with your eyes wide open having done all the research and with the right level of investment.

Embrace change

When we first started pitching for investment for nails inc all the potential investors wanted us to be a dotcom business, but that's not what we were. We now have a great website and an app, we take online bookings and send people text message reminders. I love all the digital elements but nails inc wouldn't have worked as a web only business because it has that service element.

For more information about nails inc click here, www.nailsinc.com.

 

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