Above: Picture courtesy of Russian Art and Culture

How many applications do you have on your mobile phone? How many times you have had an idea for an exciting business project, but thought it was not worth trying to pursue it? How many of you read stories of entrepreneurial success around the globe and wanted to join this growing community?

Global Entrepreneurship Week, the world’s largest celebration of the innovative entrepreneurs who launch startups that bring ideas to life, has started in London on 16 November 2015 with Disrupt Your Industry: An Entrepreneur’s Perspective, a networking breakfast and panel discussion with CEOs of leading startups in the UK. Organised by Vastari and Russian Art and Culture Ltd and hosted by Central Working Whitechapel, the event welcomed striving entrepreneurs and people who are just thinking about launching their independent businesses for a lively discussion on various aspects of setting up a successful business, building a team, developing and pitching your idea and sourcing funding for your growth.

The panel comprised of representatives of different areas of business, including Anna Bance, co-founder of Girl Meets Dress, a leading multi-award winning online luxury rental service, Bernadine Bröcker, director of Vastari, a global online network for ‪exhibition loans and museum exhibition tours, Theodora Clarke, CEO of Russian Art & Culture, the world’s leading online platform, publishing and events management company for Russian culture, Chad Cribbins, CEO of Firef.ly, a mobile app that distils the best of trip planning, travel guides, journaling, sharing and personalised mementos, and Dan Hubert, founder of AppyParking, UK’s youngest and most disruptive parking company.

Each speaker shared the stories and inspirations behind their businesses, experiences as founders of innovative companies as well as struggles and mistakes along the way. Despite the fact that the companies are working with different products, audiences, and setting up different goals, the discussion revealed the similarity of major steps in building a startup, important considerations and pitfalls to avoid on the way to success. After an initial introduction the audience received a chance to ask questions and hear top tips and practical advice on how to turn an exciting idea into a new business, ways to grow a company and attract funding. 

One the first and may be the most important comments was made by Theodora: “No one will believe in your idea unless you will.” That statement was supported by other panellists, who confirmed that at every moment of your work on the project you should be sure that this is what you want to do and that it is important. Many questions were related to funding the business and finding suitable support form the bigger corporations or established entrepreneurs, and all agreed that the trust is crucial in this process. Dan noticed that mentors and investors may change from one stage to another, but it always should be somebody you respect and trust. Chad and Anna also pointed out the importance of being open about your ideas, spreading the word and talking to different people to validate your idea from business or customer points of view. All entrepreneurs confirmed the significant role of social media and networking events in all stages of the project’s development.

“How do you decide when to reward yourself?” was one of the last questions from the audience. Dan and Chad agreed that even a minimum salary should be set up from the beginning, while Bernadine also noticed that “not checking emails for a week” is also an important reward. 

The time of the event has run out, but not the questions from the audience and the discussion continued afterwards in an informal and inspiring environment of Central Working Whitechapel. Christopher Newman, one of the participants of the discussion, summarised his impressions from the event: “A fascinating blend of startup insights from five brilliant and well grounded entrepreneurs. The panel served us with the perfect punchy cocktail of inspiration, realism, wisdom and humour to launch London’s Global Entrepreneurship Week. My top tip takeaways: 1. Before you start, be sure about why you want to do it. 2. Build the right team. 3. Never stop asking for advice. 4. Hustle and adapt, every small step of the way. 5. Most important, have fun with it!”

Courtesy of Russian Art and Culture