Ask a business owner what they’d tell their younger self and you might expect a secret formula. But when we looked at the research shared by The Allica Bank Great British Entrepreneur Awards on what business owners wished they’d known earlier, the answers were much simpler.
The regret is delay, not ignorance
Almost half of the business owners used the word “earlier”, and more than one in five said “sooner”. They talked about lessons they’d sensed at the time but were too busy, too cautious or too invested to act on.
For many, that meant waiting too long to trust their own judgement. Around one in seven mentioned perfection, almost always as a brake on progress. The market can teach you faster than another month of internal debate.
It’s a feeling Conrad Ford, Chief Product & Strategy Officer at Allica Bank, knows well. He says:
“When I was building my last business, I came out of a corporate background where you have a strong bias towards deep analysis before taking action — one thing I wish I did differently in those early days was have more of a bias towards action, because you only ever discover what really works by getting in front of real customers.”
Acting early doesn’t mean acting recklessly. It means recognising that clarity often comes from doing.
Say no, and ask for help
Around one in six talked about focus and learning to say no. Early on, every customer and every idea feels like a win, but not all of them move the business forward.
More than one in ten wished they’d delegated, hired earlier or asked for help. Many had treated doing it all themselves as proof of commitment, only to find they’d become the biggest bottleneck in the business.
Almost two in five mentioned systems and processes. What works through energy and improvisation in the early days doesn’t always work as a business grows.
Cashflow came up too, with 17% mentioning it directly. As one business owner put it, “Cash is what keeps the business alive.” Growth often uses up cash before it brings any in, so it pays to plan for that early.
And more than one in ten spoke about burnout, rest and boundaries. Looking after yourself isn’t a luxury, and nobody makes good decisions when they’re exhausted.
What they'd tell you now
These aren’t the lessons of people who lacked ambition. They’re the lessons of business owners who found that ambition works best alongside focus, financial discipline, trusted people and the confidence to act. Start before everything’s perfect. Ask for help sooner. Protect your cash. Say ‘no’ more often.
That’s why we’re proud to back the established businesses every day. Most business owners don’t wish they’d worked harder. They wish they’d spotted sooner when hard work wasn’t enough.
Note: This blog brings together insights from the Great British Entrepreneur Awards’ 2026 shortlist survey. At Allica, we’re proud to be the awards’ headline sponsor for the fourth year running, celebrating the people, ideas and ambition behind Britain’s brilliant businesses.
