Category Start-Up

Entries 3 Total

8 Top Tips for Start-Ups

Jan 11, ’12 8:09 PM
Author Lorraine Allman Categories Business Startup, Micro Business, Small Business / SOHO, Start-Up, Start-Up, start-up in business, start-up in business

January is perhaps unsurprisingly one of the busiest months of the year to start up a business, yet the statistics on survival rates continue to make shocking news. For example in 2010 297,000 UK businesses went bust, equivalent to more than 1,170 every working day. Further research shows that less than 50% of companies established in 2005 were still trading at the close of 2009. (source)

So what measures can you put in place to avoid being a negative statistic, giving your business a better chance of doing more than just surviving?

Do your research Yes, I know it sounds boring but researching at least the basics about your market (e.g. trends, scale), target groups (where they spend their money and time), and competitors is essential to inform the rest of your business plan.

How are you helping the market? For most businesses to succeed you need to have a pretty clear idea about what problem your business is providing a solution for and/or what need you are meeting. If you’re thinking of entering an already busy market, consider how you’re going to differentiate your business from competitors. What are you going to do that’s better?

Keep listening and talking to customers This sounds obvious but it’s surprising particularly during the early years how we can be so focused on getting the business off the ground, learning the ropes and managing day-to-day that we forget the most basic of requirements for a successful business to listen to and talk with your customers. Create an authentic and meaningful relationship with them to engender loyalty and make sure you’re meeting their often changing needs.

Don’t take everything on yourself Easy to do in the early days when money is often scarce, but take a long, hard, and honest look at your skillset and time available. Consider outsourcing anything you’re not so good at. Doing your accounts is an obvious one (particularly if you’re Limited company) but help with administration or sales could be equally valuable. Ensure your network of colleagues complements your own skills and knowledge and don’t forget to keep an eye out for collaborative opportunities with complementary businesses – so much more can be achieved with a collaborative effort

Avoid starting with debt Being under-capitalised is one of the key reasons why businesses can fail. If your cash flow is poor to start with you could face an uphill struggle making the figures stack up. If you’ve done the figures and are short of money to start up take a look at some of the alternative funding sources such as crowdfunding (I’ll be writing a blog about this very soon) or even for small amounts your local credit union.

Find a mentor Many new initiatives that have started in the last year encouraging start-ups and existing businesses to find and benefit from a mentor. Some of these are volunteers and others charge a fee. Recent evidence suggests 70% of mentored small businesses survive longer than 5 years (double the number of non-mentored enterprises) so finding a mentor or coach isn’t really an option anymore, it’s essential.

Consider finding a Non-Executive Director This option isn’t for everyone however if you have genuine aspirations to grow your company quickly but need investment and skills to do that, you may want to consider finding an Investing Non-Exec. Once the domain of large corporations, an increasing number of start-ups are now choosing this route to add credibility to their management team as well as much needed funds and contacts. You can read more about this with some case studies here.

Test-trade or work 5-9 Thousands of people right now are holding down full-time jobs whilst starting a business of their own. They do this by working what is commonly referred to as the ‘5-9’ shift although in reality of course the hours are much longer! Test trading in a small way and/or working 5-9 can be an excellent way to find out a) whether you’re suited to being self-employed (it really isn’t for everyone despite what you may hear others say!) and b) help you determine basic information such as whether there really is a market for your business and if so how much people will be prepared to pay for your product/service.

Whatever your situation and whatever you decide to do, I wish you every success in 2012 and beyond.

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2012:The Year Enterprise Rocks

Dec 30, ’11 6:21 PM
Author Tony Robinson OBE Categories Announcements, Employment, Freelancer, Getting Things Done, Home Business, Micro Business, MumEntrepreneur, Self-employed, Small Business / SOHO, Small Business Support, Sole-Trader, Start-Up

Making it Better and Fairer

It will be a rocking good start to 2012. The UK Enterprise Rockers movement is inviting journalists to kick off 2012 by covering the launch of our #MicroBizMatters campaign. The Enterprise Rockers, all micro business owners, have chosen Scarborough to host the media launch event at noon on January 9th.

Scarborough is a former winner of both the most enterprising place in Britain and the most enterprising town in Europe. Oh and the two founders of the Enterprise Rockers, the wonderful Tina Boden and me, live there.

The aim of the Enterprise Rockers movement is to make life better and fairer for all Micro Business Owners. The #MicroBizMatters campaign will improve awareness of the importance of the UK’s 4.5 million micro businesses, including start-ups, to jobs, the economy and communities.

Although the UK is the first to launch the Rockers there is already interest being shown in many countries to take up our movement, including the US.

Positive Messages Will Tackle Discrimination

The campaign also seeks to make people more aware of the discrimination by Government, Banks and Big Businesses against micro business owners and what the benefits to Britain would be if they gave them a fairer chance to survive and thrive. The campaign also positively recognises large organisations that the Rockers agree are micro enterprise friendly such as Apple, the Co-op, British Library and ACAS.

Founder Tina Boden, who owns a fine food company, explained, ‘We’re not a political, lobbying or a fee paying membership organisation. Micro business owners freely get involved in the Rockers to do as much or as little as they like. We agree everything by majority decision.

We believe that by thousands of us supporting each other, trading with each other and carrying the same messages in villages, towns and online all over the UK that we can harness the power of plenty to make life better and fairer for micro business owners.

Our #MicroBizMatters campaign will make people aware why it is important that Britain is more micro enterprise friendly. This in turn will improve the future prospects for micro-business owners including start-ups.’

Why this way works?

For me, it is really important that everything we do is really positive. As micro enterprise owners we are and have to be positive people and we’re used to just getting on with ‘doing the biz’ so we’re certainly not moaners and we’re not looking for hand outs.

We’ve made very little progress in the last twenty years consulting with Government Ministers and their officials to try and get a better deal on skills and support for start-ups and enterprise owners. So the Enterprise Rockers movement is a welcome change of direction.

As one in seven of the adult workforce in the UK are running their own micro businesses there can’t be many of the population that don’t know, and more importantly, would like to help a micro business owner to earn an honest living.

Politicians are only interested in what the public think around election time but by the next UK election we’re pretty sure that we’ll have enough public opinion on our side so that they, for the first time, will need to state what they are going to do for micro business owners (0-9 employees).

Fact: Micro-Business Matters

Influencing public opinion and in turn government is a small part of what we’ll achieve. After all, we’ll never be as important to Ministers as Big Business and the Banks but we can hopefully stop 95% of government funding and support going to bigger business so that the 95% of all UK businesses that are micros get a fairer deal and an even break.

We’re growing. We already provide most of the new jobs, innovation and best help to communities and we contribute a third of all private sector jobs and a fifth of UK turnover. The thousands of Enterprise Rockers actively involved on Twitter, Facebook, Linked In and ready to champion our #MicroBizMatters campaign will make life better and fairer for us all.

The #MicroBizMatters campaign already has 750 signatures on its ‘Tell Us What You’re Doing for Micro Enterprises Not for’ SMEs’ government e-petition. This already puts it at Number 14 out of over 600 e-petitions to the government’s Department of Business, Innovation and Skills.

Whilst the Rockers are not campaigning, through #MicroBizMatters for government funding they are requesting that government reduces its funding and support to Bigger Business. For example for every £50 million of government support 4.5 million micro businesses get 6000 big businesses get £1 billion.

Time to join our band?

The launch of #MicroBizMatters takes place in the Penthouse, the Sands, North Bay, Scarborough at 12 noon on Monday, 9th January. If you know a journalist then ask them to either register here http://enterpriserockersofficiallaunch.eventbrite.co.uk/?ref=enivtefor&utm_source=eb_email&utm_media=email&utm_compaign=invitefor&utm_term=readmore&invite=MTU1Nzk2OS90b255QGVudHJlcHJlbmV1cnN1ay5jb20vMA== or they can arrange to interview the founders of the Enterprise Rockers by e-mailing tony@entrepreneursuk.com with their requirements.

There’s also no better time for you to get involved with the Enterprise Rockers. It’s free and you can join our Enterprise Rockers discussion groups and MicroBizMatters discussion groups on Facebook and Linked In or follow us on Twitter @EnterpriseRocks or check out our website http://enterpriserockers.co.uk and sign our Government e-petition at http://t.co/QK36cLlU

Thanks lots – enjoy 2012 the year of the Enterprise Rockers.

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The Best Biz Mentors Can Be A Tad Crazy

Nov 23, ’11 2:30 PM
Author Tony Robinson OBE Categories Business Ideas, Business Mentoring, Business Startup, Business Trends, Entrepreneur, Getting Things Done, Home Business, Micro Business, MumEntrepreneur, News, Personal Business, SOHO/SMB/SME/Micro, Self-employed, Sole-Trader, Start-Up, be successful, grow your business, start-up in business

My Dad

I reckon my first business mentor was my Dad. He started his own business, working from home, because, like many people I know, it was the best way of earning a living. His health was very poor so he had to pack in his job. In the five years between me being 13 and 18, when he died, he built a very big business. It was always a micro business, like 95% of the businesses today in the UK.

It became big in income but never had more than six employees. It was a sales agency in the wooden box and pallets industry. Many years later, when I started my own business, I realised that nearly everything useful that I’d learned about enterprise had come from my Dad as my business mentor.

He was an unlikely ace business mentor. My Dad left school at 14, picked everything up as he’d gone along, and was a complete eccentric, a showman and a storyteller who instinctively turned anything formal into a party. At football, Hull City, he had a seat just behind the Directors’ box so that he could hurl abuse and one-liners at them from start to finish. I wouldn’t sit with him.

Corporate Crackers

The point is that what I’d learned in Senior Management, even Managing Director, at two major American multinationals didn’t help me much in my own business. This was despite having received the very best business training and completed two Post Graduate Diplomas in HR Management and Business Administration. All this was next to useless in my own micro business as against the valuable help I gained from my mentors.

My business partner of twenty five years, Clare, felt the same thing. She hadn’t realised it at the time but her corporate jobs and training hadn’t prepared her for running her own business but what she’d learned from her Dad, who had his own property business, was invaluable.

No surprise then that we decided to have a mentor, another micro business owner, for our first couple of years in business. We gave him our corporate contacts and in return he asked us wise questions which stopped us doing many of the foolish things we were about to do. No money exchanged hands although a heck of a lot of money went behind the bar during our, frequently scheduled, mentoring sessions.

Sitting or Standing Up Mentors?

One of the many theories I have, which perversely academic research and government policy has yet to pick up on, is that if you’ve got a primarily ‘standing up’ business you’re best to have a mentor that has a ‘standing up’ business too. ‘Standing up’ businesses would include most building trades, cafes, shops, blues bands, chocolate makers, ice cream makers and micro-breweries.

Similarly if you’re in a ‘sitting down in an office’ type business then choose ‘a sitting down in an office’ type mentor. I’m definitely not saying only get a mentor from a similar trade or industry, only government and BigBiz think in sectors, but do get someone who really understands what you have to do each day.

Oh and beware of men in suits if you’ve got a ‘standing up’ business’ or you’re a woman. I’m sure there are exceptions to these rules of mine for choosing a mentor but there won’t be many.

Sir Jimmy Fixed It for Us Every Day

Wrestler, DJ, marathon runner, TV presenter, volunteer hospital porter and the greatest charity fund raiser of all time, Sir Jimmy Savile, died recently. He was buried in Scarborough, where I live. Thousands turned out to acknowledge his real achievements for the people of Britain both at his service in Leeds and his burial in Scarborough. He was truly a man of the people, an inspiration to many of us, and the very same person on the telly as he was in the cafes and streets of Scarborough.

He made us feel better about life and he genuinely helped many thousands of people through adversity. He was eccentric to the last. He was buried in one of his trademark track suits, in a gold coloured coffin placed at an angle in the grave, so that he ‘could see the sea’. He was also a highly successful micro business owner, millionaire and a cracking volunteer biz and personal mentor.

Two of his proudest possessions were on his mantelpiece in his Scarborough flat. They were individual letters from Princess Di and Prince Charles thanking him for his help to them, as an informal mentor.

Lots of my business owner friends seem a bit crazy. The craziness is often just appearance and behaviour that shows we’re our own boss with our own values, passion and beliefs. Some can wrongly view this, like Sir Jimmy Savile was viewed, as not professional or not to be taken seriously. We are passionate about what we do and it’s bloody hard work doing it but we can be very useful business mentors too.

Get Mentoring

My businesses have benefited a great deal from the handful of business mentors I’ve had down the years. Most of the mentoring I’ve had is over the phone or nowadays by Skype. I usually contact my mentor when I’ve got a problem or see an opportunity that I want to talk through before taking a decision. I’ve also had a great time and learned a lot as a mentor to others. I have had some training on being a better mentor and I’m going to do some more shortly.

There are lots of places around at the moment where you can find a mentor or get some training to become a better mentor yourself. One such place is the Institute of Enterprise and Entrepreneurs, which I help run, and you can find out more here about Get Mentoring – free mentor training and free mentors.

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