How to start and grow a successful business

Finding the right business idea

Every great business starts with a spark of inspiration. But let’s be real, the best businesses aren’t just cool ideas, they solve real problems.

A great way to find a business idea is to ask yourself: “What do I wish someone would make for me?” If it’s a problem you have, chances are others do too. But don’t rely on gut instinct alone; validate your idea with data, market trends, and customer insights. With AI-driven research tools, you can analyse search trends, customer behaviour, and emerging industry shifts to see if your idea has real potential. The best businesses solve real problems, whether by improving an existing product, filling a gap in the market, or tapping into a new trend.

That said, a good idea isn’t enough, it must be something you genuinely care about. Running a business takes time, energy, and resilience, so make sure it’s something you’ll still be excited about in years to come. Passion isn’t just a nice-to-have; it’s what keeps you going when challenges inevitably pop up!

Some of the fastest-growing industries right now include sustainability, digital services, health tech, and AI-driven businesses. But whatever industry you choose, make sure your idea has a clear purpose, a well-defined audience, and a realistic path to making money. After all, even the most brilliant idea won’t go far without customers willing to pay for it!

Develop a solid business plan

Before you jump into starting a business, it’s important to do your homework. A business plan isn’t just a fancy document, it’s your roadmap to success. It helps you get clear on your goals, attract investment, and keep yourself on track when things get busy!

First, nail down your value proposition - what makes your business different? Why should customers choose you over the competition? Understanding your audience is just as important. Who are your customers? What do they struggle with, and how does your business help them?

Beyond defining your vision, a solid business plan should include a detailed financial strategy. This means outlining revenue streams, expected costs, and realistic financial projections based on market research. Investors, lenders (and even future you) will want to see clear financial forecasting, including estimated profits, expenses, and break-even points.

A well-structured business plan also details your marketing and operational strategies, covering how you’ll attract customers, deliver products or services efficiently, and scale the business over time.

Even if you're starting small, taking the time to craft a thoughtful data-driven business plan will provide a roadmap to success, and help you secure funding when needed.

If you’re looking for business startup help, advice or support on any of the above, you can always get in touch with the team at Virgin StartUp Link opens in a new window. That’s what we’re here for. We provide business advice, mentoring and access to Start Up Loan funding from £500 - £25,000, to help you get your business up and running.

Build a strong digital presence

In today’s business landscape, having a strong digital presence isn’t just an advantage, it’s essential. Consumers expect businesses to be easily accessible online, whether through a professional website, social media platforms, or search engine results.

A well-designed website can serve as your digital storefront, showcasing your brand, products, and services while providing key information to potential customers. With platforms like Shopify Link opens in a new window, Wix Link opens in a new window, and WordPress Link opens in a new window, even those without technical expertise can create high-quality websites that are easier than ever to build, mobile-friendly and optimised for user experience.

But a website alone isn’t enough, you need to drive traffic to it. That’s where SEO, social media, and email marketing come in. AI-powered SEO tools can help improve your rankings, while social media platforms like Instagram, TikTok, YouTube and LinkedIn allow you to connect directly with your audience. Email marketing is another powerful tool, platforms like Mailchimp Link opens in a new window make it easy to create newsletters that keep customers engaged and nurture relationships.

Data is also key. Typeform Link opens in a new window helps you create beautifully designed sign-up forms, surveys, and feedback tools to better understand your customers. Airtable Link opens in a new window offers a free, easy-to-use Customer Relationship Management (CRM) system to track customer relationships. And if you’re looking for an all-in-one solution, Virgin Money’s M-Track dashboard brings all your business tools into one place, tracking everything from your Shopify inventory, to Instagram stats. Best of all, it’s free with M Account for Business.

By tapping into these tools, you can work smarter, not harder, and build meaningful connections with your audience and build brand credibility.

Build a ‘Better’ Business

Customers today want more than just good products; they want brands that stand for something. Whether it’s sustainability or giving back to the community. Research supports this shift: A recent Deloitte study Link opens in a new window found that approximately two-thirds of Gen Zs (64%) and millennials (63%) are willing to pay more for environmentally sustainable products or services. Businesses that prioritise purpose alongside profit have a real competitive edge, and startups are at the forefront of this movement. Simon Sinek famously said, “people don’t buy what you do, they buy why you do it”. And it’s so true. So, stand for something. Build a business that combines purpose with profit. And share why you’re doing what you’re doing with your customers, followers and users.

One of the biggest ways to make an impact is by being mindful of your environmental footprint. Consider using eco-friendly materials, cutting down on waste, or offering circular economy initiatives like product recycling or repairs. Ethical sourcing is also a game-changer; working with suppliers who prioritise fair wages and sustainable farming shows that your business is about more than just making money.

Beyond that, companies are integrating sustainability directly into their models. In certain industries, businesses are now legally required to report on their environmental and social impact, making sustainable practices more than just a nice-to-have. Think carbon-neutral delivery or give-back initiatives that donate a portion of profits to social causes. If you’re serious about making a difference, the Virgin Money Sustainable Business Coach app can help track your environmental and social impact, measure your progress, and set meaningful sustainability goals.

We’re seeing consumers are increasingly voting with their wallets, choosing brands that align with their values, and transparency is key. Businesses that communicate their sustainability efforts authentically and provide measurable impact reports will build stronger trust and loyalty.

In the long run, companies that embed sustainability into their core operations will be better positioned to thrive in a changing world.

At the end of the day, sustainability isn’t just good for the planet, it’s good for business.

Launch, test, and future-proof your business

Launching your business is a huge milestone, but success isn’t just about the launch, it’s about staying adaptable. Many startups begin with a Minimum Viable Product (MVP); a basic version of their product or service that allows them to test ideas, gather customer feedback, and tweak things before scaling up.

Using tools like Typeform to gather insights from early users, running social media ads to test different messaging, and making small adjustments based on real-world data can help fine-tune your offering. The businesses that thrive are the ones that stay agile keeping an eye on trends, adopting new tech, and continuously evolving with their market to ensure their businesses remain relevant.

By investing in digital transformation, exploring new revenue streams, and staying ahead of industry shifts, you can build a business that doesn’t just survive but thrives in the long run.

Find the Right Support

You might be starting your business solo, but that doesn’t mean you have to do it alone. Having the right support system around you, whether it’s mentors, fellow founders, or online communities can make all the difference.

A mentor can be a game-changer, offering unbiased advice and experience that family and friends might not be able to provide. Many founders also turn to online communities for support, inspiration, and expert guidance. One in five entrepreneurs say they get their most valuable advice from these spaces.

Entrepreneurs. It takes one to know one.

That’s why Virgin StartUp Link opens in a new window was launched in 2013, to help founders in the UK start and scale the businesses that they’re passionate about. As a not-for-profit funded by the Branson Family, we provide business advice, access to funding, mentoring, training, and sometimes just a friendly shoulder to lean on.

Over the past 10 years, we’ve learned a thing or two from the founders we have supported. We’ve helped more than 7,000 entrepreneurs and provided over £80m in Start Up Loan funding, helping founders turn their ideas into reality.

Over at our Virgin StartUp Community Platform Link opens in a new window, we have over 600 mentors who work one-on-one with founders, plus it’s a space where entrepreneurs can connect, access online courses, and get tailored advice. We also run free monthly meetups where you can hear from startup leaders and network with other founders.

And when it comes to finances, having the right Business Current Account is essential. Virgin Money offers a range of accounts designed to fit businesses of all sizes, packed with features to help you budget, save time, and manage money effortlessly. It comes with a nifty Business Banking App that’s packed full of clever tools to help you budget, save time and manage your business current account on the go, without the hassle.

Plus, all Virgin Money M Account for Business customers can take advantage of the free M-Track Dashboard. It lets you take control of your business by bringing all your favourite business tools into one easy-to-use dashboard. From accounts and HR to e-commerce and social media, M-Track even lets you forecast ahead as your business grows.

The best startups of today are the big businesses of tomorrow

Every successful business starts somewhere. The difference between those that make it and those that don’t? Taking action!

Plenty of people have ambitions to start a business, but few actually do it. Tim Ferriss put it best: “The universe doesn’t conspire against you, but it doesn’t go out of its way to line up the pins either. Conditions are never perfect … just do it and correct course along the way.”

Here are three of my favourite Virgin StartUp Link opens in a new window supported businesses for inspiration:

• Change Please Coffee Link opens in a new window– An award-winning social enterprise tackling homelessness through the power of social enterprise and great tasting coffee. 100% of profits help people experiencing homelessness supporting them with everything they need to turn their lives around.
• Dash Water Link opens in a new windowA proud B Corp using wonky fruit and veg that would have otherwise gone to landfill to flavour lightly sparkled water. Their healthy drinks with no calories, no sugar and no sweeteners are on a mission to fight food waste.
• Magic Ai Link opens in a new window – This beautifully designed mirror makes personal training more accessible and affordable. By integrating AI and smart weights, they deliver personalised workouts on demand in the comfort of your own home.

So, are you ready to take the leap? Every successful business starts with that first step. Start planning, test your ideas, and build something you truly believe in. The journey won’t always be easy, but with the right mindset, strategy, and support, you can turn your business dream into reality. There’s no better time to start - go for it!