Making The Difference Between A Thriving Or Failing Start-Up

David Grimes has made a name in the courier industry. With My Parcel Delivery launched in June 2010, he has seen success from his business of online courier comparison.

My Parcel Delivery is a true start-up success having partners with some leading brands like DPD, ParcelForce and Hermes. It also ranked first in the 2013 Startups 100 index. Now, Grimes is looking to mirror this same success with Electio, his recently launched SaaS delivery management business.

Recently at an event by LHS Solicitors LLP, Grimes shared his insights and experiences from his business journey. These are seven of the tips he gave for budding entrepreneurs as a means to building a successful business.

Being persistent

He said that entrepreneurs are not born. He added that a person is born with the qualities that enable him or her to be an entrepreneur. These are persistence, perseverance, a belief in oneself and in the idea as well as the courage to push through even when people will say “you’re mad” or “that will never work.”

Building a great team

He mentioned that they have grown aggressively at MPD Group for the last five years, and the team around him helped. He added that there is no substitute to a great team, it has changed his life as they’ve grown and hired great people.

Not being afraid to let go

For him, this is the most difficult thing to do especially when everything was put into it. He said that a number of entrepreneurs can’t let go, and this holds them back. He gave an advice about building a great team and then letting go.

Hiring staff based on company culture as well as brand values

He wasted a lot of money with hiring the wrong people. He found out that hiring people that do not match an organisation’s culture will make them bad for a business. They now hire and fire people based on their culture and values, and for him, it makes a difference.

Investing in a mentor and getting advice

He had a mentor who is a great inspiration and has helped him. He advised to surround oneself with talented people.

Being open to change

He mentioned that one should be willing to adapt and be able to do so as it is important to adjust.

Giving incentives to staff

Lastly, he said that staff should be rewarded in order to motivate them.