Simon Squibb Shares 12 Pillars of Business Wisdom For Entrepreneurs

In a recent LinkedIn post, entrepreneur and investor Simon Squibb shared a distillation of his 30 years of business experience, offering 12 key principles for building and scaling ventures. Squibb emphasizes that foundational business success stems from passion and effective execution rather than solely relying on unique ideas.

Squibb kicks off his advice by asserting that business should originate from a feeling, not a mere idea. He elaborates on this by stating:

“Business starts with a feeling, not an idea. You don’t need a unique idea. Start with what you truly enjoy and are willing to obsess over. This obsession becomes your advantage over competitors.”

This focus on intrinsic motivation, Squibb argues, provides the bedrock for sustained effort and competitive differentiation. He further illustrates the power of starting simple with his own journey, noting his personal brand’s origins:

“Execution means finding the simplest first move to bring your business idea to life. In 2019, I started my personal brand with a £99 microphone my wife bought me for Christmas. Today, I have over 18 million followers, hundreds of millions of views per month, and a team of 50 people.”

Strategic Approaches to Growth and Revenue

Beyond the initial spark, Squibb delves into crucial strategic elements for business longevity. He highlights the importance of experimentation, particularly with revenue models. As Squibb points out, a flexible approach to monetization is key:

“When you’re thinking about how to make money, think of it like an experiment. I’ve had businesses that made money through advertising, licensing, franchising, product sales, and outcome-based contracts. Each one taught me something different.”

Furthermore, Squibb advocates for an early global mindset, suggesting that expanding reach internationally from the outset can mitigate market-specific risks. He also stresses the significance of purpose over profit as a primary driver.

Purpose as a Guiding Force

According to Squibb, a clear purpose acts as an organizational ‘gravity,’ attracting and retaining the right talent and partners. He contrasts this with the common, yet misguided, focus on wealth accumulation as a business ‘why.’

“Purpose is what makes people want to work with you and stay. It’s like gravity. It pulls the right people in,” Squibb writes.

Execution and Marketing Through Remarkable Actions

Squibb also touches on the often-misunderstood concepts of fundraising and marketing. He advises entrepreneurs to prioritize pre-selling their product or service over chasing external investment, asserting that customer validation should precede funding requests.

When it comes to marketing, Squibb redefines it not as mere promotion, but as the creation of inherently shareable experiences. He recounts an anecdote about a unique marketing stunt:

“Marketing isn’t shouting, it’s doing something that others want to talk about. I bought a staircase for £15,000, and we put a doorbell on it to give people a place to share their dreams and goals. Within days, the staircase went viral. This was not because we chased PR, but because the act itself was remarkable.”

He concludes his advice by advocating for agility over rigid business plans, suggesting mind maps as a more dynamic alternative. Squibb also champions the value of co-founders and building a business one wouldn’t want to sell, framing freedom as the ultimate return on investment in entrepreneurship.