The Time is Right

Insider
4 August 2009

Prepare properly and now could be a good time to start a new venture. Stuart Wilkin reports

Careful planning and good advice gave Leeds WSB Property Consultants a smooth start. The company was launched in May 2009 by directors David Watson, Carl Smith, Duncan Senior and Robin Beagley, who had all resigned from director roles with national surveying firms in Leeds.

The downturn prompted the directors to capitalise on the period of uncertainty in the larger commercial practices. Beagley says: “I’ve always admired people who have successfully set up and run their own business. “Despite the recession, we saw no better time to establish a new property consultancy than at the bottom of the market. We are taking a long-term view.” The directors spent six months refining their business plan, developing a marketing strategy and undertaking financial planning before resigning from their posts. Beagley says: “A credible professional service business doesn’t start overnight. The decision to set up WSB was huge, and forward planning every element of the business is fundamental to our success.”

WSB’s founders explored every avenue to find all the advice available to help them prepare. “We had discussions at a very early stage with our accountant, who proved to be useful in advising on the legal structures that were possible for a new business,” says Beagley. “We spoke with our professional body, the Royal Institution of Chartered Surveyors, to ensure our business was compliant with its regulatory requirements. But above all we found the support and advice from family and friends, particularly those who have experience of running a business, even in totally unrelated fields, was invaluable.”