What is PIPIL and why did we sponsor it?
Find out why we chose to sponsor Lincoln’s first PIPIL event and how it has benefited us.Read story
Posted October 24th, 2017 by Jasmine Lui
As you may already know, our managing director Dale Lui has made the shortlist for ‘#GODO Entrepreneur of the Year’ at the 2017 NatWest Great British Entrepreneur Awards.
As part of our blogging mini-series, we asked Dale to share his top tips for fellow entrepreneurs.
1. When life gives you lemons, make lemonade!
Becoming an entrepreneur came partly from circumstance – when I was made redundant at my previous firm, I decided to set up my own company instead. I’ve always believed in taking charge and being a decision-maker, so working for myself made perfect sense.
As a business owner, you’re likely to take a few knocks on your way up, but it’s important not to let this deter you altogether. Take those setbacks and use them as lessons to drive you forward.
2. Look after your team
My biggest belief is that a business is only as good as the people working in it. Although Andrew and I founded LK2, the company would not be where it is today without the outstanding team we have curated over the years. Therefore, we’ve always prioritised the team’s needs above our own – in order to keep a business secure, it’s vital to hold on to talented staff when you find them.
During the second recession things were not good, we were facing a down-turn in business, and were struggling to pay all our staff. Instead of losing talented staff because of the financial situation, we decided to not pay ourselves instead, ensuring we were able to pay their wages and retain their skills for the future.
This approach has really paid off – in 20 years, we’ve only lost two members of staff.
3. Embrace your competition
As a business, we actively engage and work alongside a number of national architects. If there’s an area of work we come into and we don’t have the specialism or experience already, we’re happy to partner with others to deliver the project.
Great examples of this include our recent work with both 4 global, Gleeds and Lead 8 - all of which are internationally acclaimed consultancies that offer services similar to our own.
These unique relationships have helped us to address skills shortages, as often we struggle to find appropriate candidates in Lincolnshire who have the skills we need for niche projects. Thanks to these partnerships, we are able to share both work and staff, helping us to deliver an all-encompassing service to our clients.