Skip to the main content.

Manage your portfolio with ease and evaluate potential investments.

The platform is fully synced with Companies House, to provide you with accurate, real-time insight.

Meet with Vestd

manage iconManage

Add your investments for complete visibility of your shareholdings. View cap tables and detailed share movements.

organise iconOrganise

Organise investments by fund, geography or sector, and view your portfolio as a whole or by individual company.

scenario iconModel

Explore future value scenarios based on various growth trajectories, to figure out potential payouts.

streamline iconStreamline

Remove friction and save time. Action shareholder resolutions via DocuSign, access data rooms, and get updates from founders.

SPVs iconSPVs

Set up and manage new SPVs without leaving the platform, then invite co-investors to fund and participate.

capterra rating
guide-thumbnail
The Joy of Enterprise Management Incentives
Read our free guide to the UK's most tax-efficient share scheme.
Get the guide

1 min read

Seven things first-time founders should avoid

Seven things first-time founders should avoid

Table of Contents

Last updated: 28 March 2024.

Are you thinking of launching a business? There are a few things you should know first. But rather than listen to us, we thought we’d share the best advice from founders across very different spheres.

If you followed our series, The Business Pharmacy, you’ll know that we asked a bunch of successful entrepreneurs to share their ‘prescription’ for prosperity. 

As well as telling us what works, they also told us what they try to avoid where possible, in the hope that they can prevent others from finding themselves in a tricky situation.

From hiring to timing, at least one nugget of wisdom is sure to resonate.

Seven tips for first-time founders

1. Trust your instincts

Andrew Scott, co-founder of 7percent Ventures:

Avoid taking money from, or hiring, anyone whose gut tells you, "There's something not right". I've found my gut can be wrong about many things, but almost never people.

2. Avoid wishful thinking

Ingars Zagorskis, Ivars Sudmalis and Ivars Mirošnikovs, founders of PrintOnPack.com:

It's important to aim big and trust your intuition, but you also have to be critical of yourself and trust data over your personal beliefs and assumptions.

3. Timing matters

Greg Lavery, MD at Rype Office:

I know this is difficult to do, but in the past, I have worked in (and started) businesses that were way ahead of their time; they did not thrive.

4. Take time out

Lucy Gordon, founder of From Our Cellar:

Avoid STRESS! Stressing doesn’t get you anywhere, other than being more stressed. So, when you feel stress or anxiety coming on, take a break.

5. Communicate well

Matt Fox, founder of Snaptrip Group:

The one thing that many businesses tend to do is be opaque or rather not being openly communicative which can lead to gossip and mistrust. We’re incredibly transparent with almost all of the information at the company, from trading to our strategic plans.

6. Don't let self-doubt set in

Nicola Good, COO and co-founder of That Works For Me:

It happens to the best of us, but try not to let it take over.

7. Take no one for granted

Rita Trehan, founder and CEO of DARE Worldwide:

Avoid forgetting the people around you, the people that matter – which can happen if you’re working too hard.

Launching a new business is no mean feat. There will always be bumps along the way, but hopefully, this list helps you swerve one or two at least.

From co-founder prenups to company admin, Vestd's suite of tools can help you build solid foundations for future success.

Learn more
The Business Pharmacy: Andrew Scott

The Business Pharmacy: Andrew Scott

Happy International Leadership Week! To celebrate, we're launching a brand new series, The Business Pharmacy, where founders of successful businesses...

Read More
2021 #FounderStories Round-Up

2021 #FounderStories Round-Up

In 2021, we launched our #FounderStories series, where we collect and share the voices of company founders from different sectors.

Read More
Empowering entrepreneurs: top takeaways from FounderMetrics

Empowering entrepreneurs: top takeaways from FounderMetrics

FounderMetrics: a podcast by Vestd. Join Ifty Nasir as he uncovers the factors that forge success and those that spell disaster.

Read More