Chris Worden interviews Samuel Petco, CEO and founder of Scaleup Business Solutions, to discuss the realities of starting, growing, and systemising a business in the UK. Samuel shares his journey, key mistakes, and practical advice for business owners.
- Technical skill alone isn't enough for business growth
- Always read contracts before committing
- Delegation and outsourcing are vital for scaling
- Marketing and sales should be prioritised early
- Understand the difference between bookkeepers and financial controllers
- Systems and after-sales service are non-negotiable
Samuel Petco's Business Journey
Samuel Petco moved to the UK 20 years ago, driven by a desire to build a business that would support his family. After studying accountancy and gaining experience in various sectors, he founded a language school and later Scaleup Business Solutions, offering both marketing and accounting services.
Key Lessons Learned
- Read contracts carefully: Early mistakes taught Samuel the importance of understanding terms before signing.
- Resourcefulness: Starting with minimal resources, Samuel learned to grow sustainably and adapt to changing regulations.
- Delegation: Scaling a business requires letting go of tasks and trusting others.
- Marketing matters: Many technically skilled founders underestimate the need for proactive marketing and sales.
Marketing and Sales: Overcoming Mindset Blocks
Chris Worden and Samuel discuss why many business owners see marketing and sales as 'dirty words'. Samuel emphasises that being good at your craft isn't enough—consistent marketing is essential for growth. He shares how his own marketing evolved from flyers to digital campaigns and networking.
Delegation and Outsourcing
Samuel advises business owners to delegate both what they're good at and what they're not, depending on their goals. Outsourcing can be effective, but clarity on the end goal is crucial. Screening and choosing the right partners or freelancers is key to success.
Bookkeeper vs Financial Controller
Many founders confuse these roles. A bookkeeper handles transactions and data entry, while a financial controller interprets data, prepares reports, and implements systems. Understanding these differences is vital for growing businesses.
Common Mistakes by Founders
- Lack of financial forecasting and marketing budget
- Over-reliance on word of mouth for new business
- Failure to adapt marketing strategies when results stagnate
- Not investing in systems and after-sales service
Non-Negotiable Business Systems
Samuel highlights the importance of having clear systems for acquiring clients, delivering services, and after-sales support. Regularly seeking feedback and addressing complaints helps retain clients and improve services.
Key Takeaways
- Technical expertise must be matched with business skills
- Delegation and outsourcing are essential for growth
- Marketing should be predictable and budgeted for
- Understand and invest in the right financial roles
- Systems and after-sales service drive long-term success
FAQs
- What is the main difference between a bookkeeper and a financial controller?
- A bookkeeper records transactions, while a financial controller interprets data, prepares reports, and implements systems.
- Why is marketing important for business growth?
- Marketing attracts new clients and ensures predictable growth beyond word of mouth.
- How can business owners delegate effectively?
- Identify tasks to delegate based on your strengths and business goals, and choose reliable partners or staff.
- What systems should every business have?
- Client acquisition, service delivery, and after-sales support systems are essential for sustainable growth.
- How can I overcome the fear of changing accountants or service providers?
- Understand the process is straightforward and professional; changing can improve your business outcomes.
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