The Decorators is an exciting young business made up of four friends who met at uni. They turned their passion for working with space into an experiential design business. Here founding partner Carolina Caicedo shares advice for starting and growing a successful company after completing the Business & IP Centre’s Innovating for Growth programme.
How did you come up with the concept or idea for your business?
The four partners met doing an MA in Narrative Environments at Central Saint Martins College of Art & Design. The course was all about multidisciplinary teams working collaboratively on projects. An opportunity to do an interactive installation at the trade show 100% Design in London came up just at the end of our final year in 2010 and we decided to take it on together. The project was a success and showed us that we worked well together and that we could produce more interesting things by working together rather than individually.
You started your own business at a young age – what advice would you give to other young people hoping to do the same?
I would say look to learn about how to run a sustainable business as soon as you start. Train yourself in all the different hats you’ll have to put on. We set ourselves up as a collective to begin with, we were much more interested in the delivery of creative ideas, than in understanding what it takes to run a business. We learnt the hard way that simply focusing on producing a good service or offer is not enough to sustain a business. I would also recommend finding a business mentor, be it someone with his or her own business or a business coach. All four of us set up The Decorators straight after finishing our MA, with little time spent in industry at times we felt we were reinventing the wheel unnecessarily. Others have done this before you so learn from them.
How did you finance your business at the early stages?
We financed the early stages of the business by taking out a small start-up loan through the University of the Arts London. It helped us take on a studio.
What main obstacle have you had to overcome?
Our main obstacle has been mindset. We have had to shift our mind-set to see ourselves as business owners rather than just designers or creators. With that shift we have experienced a loss of resistance towards the less sexy and fun aspects of running a business.
What do you like the most about running your own business?
For me it is how empowering it feels to be running your own business. It is empowering to be shaping and creating the kind of work you want to do, who you do it with and the culture in which you do it. The self development required to take a business forward is also empowering. It sets you in good stead for whatever may come next.
Which entrepreneurs inspire you?
We are inspired by the recent surge in start-ups that are putting wellbeing and social values at the heart of their business. I have found the watching the rise of Headspace very interesting and it is particularly inspiring when you know how hard it is to get a business going. I am also much more interested in hearing the behind the scenes stories. I listen to the podcast Start-Up, which follows the journey of businesses that are starting up. We usually only get the final success story but it is much more valuable for me to hear about the journey and the struggle to get something to work.
If you had one piece of advice to someone just starting out, what would it be?
Self development is the most important thing in starting up your own business. Developing a can-do and positive mindset is what will get you through the inevitable hard times.
We are now taking applications for the next Innovating for Growth programme find out how you can apply today.