Tips On Business From Sir Paul Smith, Super Designer

"I meet a lot of young designers now and they're so talented but they lack the life skills you need to make money," he says. "When I started my clothes were quite particular and I knew I wouldn't sell a lot, so I only opened on Fridays and Saturdays. For the rest of the week I rolled up my sleeves and did shitty jobs – styling, or just borrowing a mate's Transit van to go selling suits – so I could keep the shop pure. So many people today only want the purity and wonder why they go bankrupt. You've got to have a balance between image-making and rent-paying."

In full, here.