‘The Smarta Way to Do Business’  is the real deal. It’s like having 70     top mentors at your fingertips’                ...
Wouldn’t it be incredible if youcould have a quick one-to-one withTheo Paphitis, Duncan Bannatyne,Deborah Meaden or Martha...
The Smarta Way to Do Business is the first definitive,all-you-need-to-know guide to bring you real-world insight frompeopl...
Smarta.com is the ultimate onlinedestination for practical business advice,tools and networking for anyone startingor runn...
Mike                                      Jame                                                      Clare                 ...
1. Why the               Inside the Book     4. What it   Smartest                                     Takes to   Business...
Part 1 Why the Smartest BusinessesWill be Started This Decade1.1 Welcome to the New World Order: All the Rules Have Change...
“It took almost a year and took a lot of meetings and a lot of persuasion for people to see what we’re doing. But    some ...
before.What do we mean when we say everything has           their products and services to its ever-evolvingchanged?      ...
and establish a business are increasingly, by the day,       see ourselves as one person or one small business 餀becoming a...
The business landscape will change still further. There                                  will be more small businesses and...
know today could be completely outdatedin a year’s time. There are people whostill cling to the belief that what worked   ...
1.2 It’s Never Been Easier for Anyone to Start a Really Smart Business “What we’ve got to get away from is this idea that ...
L      et’s get one thing clear from the off: you can start       been capable of doing so, but for whatever reasons      ...
But now not just the 餀nancial cost of starting a businessbut the skills needed have also been transformed. When         “W...
earnest career, that’s a quite a compelling fact.Jobs for life certainly don’t exist any longer.So if there isn’t a safe j...
‘The Smarta Way to Do Business is the real deal. It’s like having 70 top mentors at your fingertips’Duncan Bannatyne
Start your ownbusiness today…all the advice youneed in one book.Exclusive giveawaysStep-by-step tips andadvice for each st...
Available from all bookshopsand online fromISBN: 978-1-907312-52-6 | November 2010
The SMARTA Way to Do Business: By Entrepreneurs, for Entrepreneurs; Your Ultimate Guide to Starting a Business
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The Smarta Way to Do Business is the first definitive, all–you–need–to–know guide to bring you real–world insight from people who really know what it takes to grow a successful business; entrepreneurs who′ve been there, done it, and are doing it now. It′s about providing you with all the insider knowledge YOU need to build a successful business right NOW.

Whether you′re just starting out, looking to take your business to the next level or exploring how social media and emerging technologies could treble your customer sales, The Smarta Way to Do Business has the answers you're looking for.

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The SMARTA Way to Do Business: By Entrepreneurs, for Entrepreneurs; Your Ultimate Guide to Starting a Business

  1. 1. ‘The Smarta Way to Do Business’ is the real deal. It’s like having 70 top mentors at your fingertips’ Duncan BannatyneFREE ebooksampler!
  2. 2. Wouldn’t it be incredible if youcould have a quick one-to-one withTheo Paphitis, Duncan Bannatyne,Deborah Meaden or Martha Lane Foxevery time you neededbusiness advice?Well now you can.
  3. 3. The Smarta Way to Do Business is the first definitive,all-you-need-to-know guide to bring you real-world insight frompeople who really know what it takes to grow a successfulbusiness; entrepreneurs who’ve been there, done it, and aredoing it now.This book will provide you with all the insider knowledge YOUneed to build a successful business right NOW.The Smarta Way to Do Business is brought to you bySmarta.com, the UK’s ultimate resource for business advice,networking and tools. Started by Sháá Wasmund and backedby Dragons’ Den stars Theo and Deborah, as well as Bebofounder Michael Birch, the team at Smarta.com are the expertsin all things business.Whether you’re just starting out, looking to take your businessto the next level or exploring how social media and emergingtechnologies could treble your customer sales, The SmartaWay to Do Business has the answers you’re looking for.
  4. 4. Smarta.com is the ultimate onlinedestination for practical business advice,tools and networking for anyone startingor running their own business. Smartabelieve the only way to learn is either byyour own mistakes or from people whohave been there and done it. Smartaexists as a place to access the advice andknowledge of established entrepreneursand market-leading experts and tonetwork with like-minded small businessowners like you.The brainchild of co-author ShááWasmund and backed by Dragons’ Den’sTheo Paphitis and Deborah Meaden aswell as a number of other experiencedentrepreneurs, Smarta prides itself inproviding advice by business people forbusiness people.
  5. 5. Mike Jame Clare Murra Wells Theo Paphitis Trevor Baylis Michael Birch s y Fraser Duncan Doherty Bannatyne Julie Meyer Rachel Elnaugh Darryn LynneThe Smarta Way to Do Business features Lyons Frankstips, pointers and revelations from some Dougserious entrepreneurial heavyweights Sahar Richard Hashemiincluding ➔ Sarah Peter Jones Beeny Tim Ferriss Deborah Meaden Martha Simon Woodroffe Lane Fox Glasses Direct Tim Campbell Kiss FM Lastminute.com
  6. 6. 1. Why the Inside the Book 4. What it Smartest Takes to Businesses Build a Smart will be Started Business This Decade 2. What Smart Businesses 5. Working Do that makes Smarter... Them Smart on your Business 3. What Smart 6. Working People Do that Smarter... makes Them on you Smart
  7. 7. Part 1 Why the Smartest BusinessesWill be Started This Decade1.1 Welcome to the New World Order: All the Rules Have Changed (in Your Favour) “We’re going through a revolution again. There is another transformation happening. The costs of starting a business are being decimated again, the speed at which you can bring something to the world is increasing in speed again. Thus if we can do the whole thing much faster and cheaper we’re going to be able to do different businesses in different ways. There’s a new way to start a business coming – it takes very little time, very few people, very little capital and can be profitable quite quickly. Thus the rules are about to change again.” —Doug Richard, School for Startups and Dragons’ Den “This is a great time to start a business. A recession brings its own opportunity, because everyone is looking at things differently, seeking fresh answers or a new approach. The commercial world doesn’t stop – far from it. Consumers want great value or originality and investors are looking to back great passion, com- mitment and ingenuity – plus there are some great deals to be done out there as suppliers compete to service your new business. If your idea is strong, and your determination levels are high, the future is very exciting.” —Sophie Cornish, Not On The High Street
  8. 8. “It took almost a year and took a lot of meetings and a lot of persuasion for people to see what we’re doing. But some forward-thinking, innovative investors could see how the entertainment landscape was changing with the internet, new video, how a short phone video was going to play a greater part going forward, more interactive forms of entertainment where it’s not passive, where you don’t sit and watch. Some people thought we were completely crazy and some people got the concept.” —Michael Smith, Mind Candy and FireboxI f there’s one thing all the entrepreneurs Smarta with them either. The truth is, for the people starting speaks to have in common, it’s that they’re all exceptional businesses, the economy is irrelevant. Yes, thoroughly energized and excited about being in we said it – and yes, we stand by it.business right now. Oh, and they’re impatient. They Make no mistake: this is a phenomenally excitingcan’t sit still because they want to get moving. They time to be starting or running a really smart business.don’t have enough hours in the day or days in the week If you’re thinking of starting a mediocre business wefor the ideas in their head because they realize what might be more cautious. But if you want success badopportunity-rich times we find ourselves in.Smarta’s enough then you genuinely have never had so manyexcited too and our belief that we’ve entered a new, opportunities to make that happen. And it’s never a badexciting time for business was our main reason for time to start a great business.writing this book. Reject, ignore and banish any notionfrom the national press, politicians or even business The world has changed. The rules have changed –lobby groups of doom and gloom, economic hardship and we promise you, they’ve changed in your favour.and credit crunch. We’re not denying any of those Whatever the state of the economy and the nationalthings, we’re just not – like all the smartest business debt and whether or not we’ve got stealth taxes comingpeople right now – unnecessarily occupying ourselves out of ears, business is open for trade like never
  9. 9. before.What do we mean when we say everything has their products and services to its ever-evolvingchanged? demands, while the even savvier are constantly looking to push, lead and help influence the future by pre-We mean everything. Again, forget the ‘business world’ empting consumer patterns.for a moment – that’s rarely where the best busi-nessesare dreamt up, after all. These businesses aren’t pushing products at consumers, they’re using social media to hear whatInstead, focus on the world around you. In the past products consumers want and then providing them.few years it’s changed immeas-urably. Compared to Welcome to the new world order.As the consumerten or even i’ve years ago, the way we work, play, demands more and more choice, we’re seeing morecommunicate, consume, earn money, spend money, and more 餀exible, small businesses serving the nicheborrow money, save money and take in our news – markets that cumbersome big businesses are toothese have all changed unrecognizably. languid to service and too archaic to spot. Next timeEvery raw function of our lives has been touched by you see a household brand go crashing, as sad asthe emergence, convergence and development of it is for the employees, ask yourself how many weretechnology and the internet. These innovations have actually catering for their former customers’ changingchanged not just our functions but how we form needs. Not many.And for every monolith that crashesopinions, express opinions, our expectations and our into the wasteland there are opportunities aplentydesires. for small businesses waiting to pick up the crumbs and do a superior job. Technology isn’t only fuellingThe hurtling pace of change shows no sign of slowing the crash of big businesses, it’s powering the rise of– and yet this is only the start. The internet has only small businesses as well. And here’s where the rulesbeen in most of our lives for 13 years or so. It’s barely have changed in your favour.All the costs of startinga teenager with spots, for heaven’s sake. Imagine its a business – which for years have been prohibitivepotential when it’s fully grown up and graduated. to those without money and given the power toThe smart businesses out there are already busy those with money – have all but been eroded. Thekeeping up with this new world, adapting and tailoring fundamental and crucial components you need to start
  10. 10. and establish a business are increasingly, by the day, see ourselves as one person or one small business 餀becoming almost free.Serious barriers to entry such ercely competing against all the thousands of otheras the cost of building a website or hiring a developer businesses, but we’re starting – or at least the smartestand a marketing executive, which even three years ago businesses are starting – to work collaboratively withmight have cost £50,000–£100,00 – have now almost other small businesses.More businesses will formdisappeared.Brilliant ideas which could have become alliances, if not full joint ventures, with other small busi-billion-dollar businesses but never got past a failed bank nesses, whereby you can work together for the shared,loan application now don’t need that bank loan. Their greater good rather than competing with each other. Thefounders can make them a reality for almost no cost.You successful entrepreneurs of this decade won’t be hard-can turn yourself into an expert and a respected brand nosed sales tycoons or, contrary to popular belief, socialon Twitter, build yourself a website on WordPress, start media gurus, but simply people who understand people.trading globally on eBay and hire your first employees Those leaders who stay close to their customers, theirwithout spending any real money or even thinking about staff and their partners and build powerful relationshipsan office – and all before you’ve even quit your day with all three will prosper and be those most able tojob. Do you know what? You might never quit your day capitalise on change.job!There isn’t one path any more. The options aren’tfew and constrictive, they’re many and empowering.There’s no one way to start or run a business anylonger. Instead there are many ways and you’re free to “You’ll always havechoose the one that’s right for you.Business has been multinationals, but there’ll bedemocratised. You don’t need to be skilled, you justneed to put the time in – and you no longer vast sums fewer of them. For every 200-of money either. In the new world order of business, employee business there will beskills are cheap and passion, knowledge and time are ten 20-person companies workingthe important currencies.Collaboration has replaced more flexibly and creatively”obsessive and defensive competition. We no longer
  11. 11. The business landscape will change still further. There will be more small businesses and fewer big businesses.“Being exceptional will be the Obviously you’ll always have the mul-tinationals, yourbenchmark for business success BPs, your Tescos, your BTs, but there will be fewer ofin the 2010s. To be exceptional them. For every 200-employee business there will be ten 20-person com-panies working more flexibly andyou have to go over and above creatively, in terms of both how they do business andwhat other people are prepared how they do their work.Of course, not everyone who starts up a business will survive. Opportunity ensuresto do” nothing. With the explosion in opportunity and the number of small businesses, the need to be exceptional at what you do only intensi餀es. Being exceptional will be the benchmark for business success in the 2010s, whether you’re big or small, well estab-lished or a day old. Be exceptional and people will want to work with you and spend their money with you.To be exceptional“You have to work you have to go over and above what other people arewith uncertainty prepared to do. So success depends on whether you’re prepared toand embrace it as go the extra mile in customer service or put in thean opportunity to extra hour on a Sunday night, on how you treat your employees, partners and customers, on whether you’reget ahead” able to think outside of the box and recognize change. The only certainty in business now is uncertainty – but you have to work with that uncertainty and embrace it as an opportunity to get ahead.The truth is, what we
  12. 12. know today could be completely outdatedin a year’s time. There are people whostill cling to the belief that what worked Smarter in Fivein the 1980s and 1990s and made themsuccessful will carry on working now. In 1. All the rules have changedsome small respects they might be right, in your favour.but as a whole what’s working now won’twork in two years’ time and you’ve got tokeep adapting. 2. The barriers to entry have been shot to pieces.If there’s one thing you won’t findfrom the entrepreneurs and business 3. This is only the start: the web is still a teenager.leaders offering advice in this book, it’spredictions about how the businesslandscape will look in 10 years’ time. 4. Social media has changed the face of business.Why? Because they don’t know. But whatthey do know is you can’t look to the past 5. Nobody knows the future, but are you operating ineither. You can only chase the future by the present?embracing the present.
  13. 13. 1.2 It’s Never Been Easier for Anyone to Start a Really Smart Business “What we’ve got to get away from is this idea that entrepreneurs are better than or different to business people. An entrepreneur is that person who goes out and risks their own money and their own time and energy in a private endeavour, and anybody can do that.” —Tim Campbell, Bright Ideas Trus “I think every single person is an entrepreneur. My book is called Anyone Can Do It because I believe anyone can do it! I believe every single one of us have entrepreneur qualities within us, it is just the entrepreneur within can remain dormant all your life. Entrepreneurs just happen to activate what everyone has already got.” —Sahar Hashemi, Coffee Republic “In America being an entrepreneur is very, very encouraged. It happens less in the UK. So I think we just want to say you can do this: you can have an idea, you can launch it, especially if it’s web-based. It’s never been a better time to do that because it’s affordable and somewhat recession-proof because your costs are very low.” —Ryan Carson, Carsonified
  14. 14. L et’s get one thing clear from the off: you can start been capable of doing so, but for whatever reasons a business and you have as much chance as felt it was beyond them.For decades, one of the chief succeeding as the next person with a bright idea psychological barriers preventing many more people– even if you don’t have one yet. For the reasons we’ve starting their own business has been the perceived leveljust explained, there’s never been a more level playing of risk involved. While embraced by true entrepreneurs,field for starting or growing a business.Encouraging risk is something generally associated with dangerthough it is, this isn’t news. Two of the bestselling for most people and so best avoided. However, nowbusiness books in recent years, by our friends Sahar the costs of starting and market-ing a business haveHashemi and Duncan Bannatyne, have taken the title become so low, what might once have felt like anAnyone Can Do It and demonstrated how anyone, almighty gamble is now much more of a calculated risk.from any background and without any formal businesstraining, qualifications or training, can apply themselvesand achieve astonishing levels of success.We know “Everyone can start a busi-nessthis and the business world, as highlighted by Smarta. or monetize their life outside acom, is increasingly full of brilliant, inspira-tional stories traditional salaried job”of people who’ve battled against the odds to achievebusiness success. But the purpose of this book, andspecifically this chapter, isn’t only to prove that anyone Ten years ago when the Tomorrow’s World notioncan start a busi-ness, but to show that it’s now easier of starting a business for next to nothing in a matterthan it’s ever been for everyone to start a business or of minutes with just a laptop and a mobile started toto monetize their life on some level outside a traditional emerge, it was at best fanciful and worked better assalaried job.While technology has completely recon餀 iconography than in reality. You couldn’t make a decentgured key business functions, it has also led a cultural e-commerce website for under £20 000 and while youand ideological shift. More people now believe they can might be able to work from home and on your own, youstart a business and more people want to. In the past were in trouble the minute you left your phone. It simplythey might have wanted to do, and in practice actually wasn’t real life.
  15. 15. But now not just the 餀nancial cost of starting a businessbut the skills needed have also been transformed. When “Whoever you are, you can harness thewe talk about the ability to make your own website power of social media to make you morethat is perfectly presentable to the public, we no longerinclude the caveat ‘provided you’ve got pretty damn productive, become more competitive andimpressive HTML skills’. We’re beyond early adopter help you secure more customers”stage. Setting up a website now isn’t only for techieswho understand the potential and know how to use thetechnology. It isn’t part of mainstream consciousness secure more customers.What you need is a mindsetyet, but we are at the next stage where the tools are that embraces the opportunity and doesn’t stand still,legitimately useable for those who try.It’s also too ignore the potential or be scared off by any obstacles.simplistic to say that those on the demographic fringes The real shift is the drawing of a new starting line inpreviously restricted by cost and time, such as those the sand, the levelling of the playing 餀eld. While in thewith children, those with low earnings and students, past anyone who had the right skills to get ahead inare now more likely to start businesses, because business was not stopped from doing so, undoubtedlywhile it’s true that they undoubtedly bene餀t from the it remained harder for some than others. But now skillsadvancements and shifts we’re seeing, the bene餀ts are are cheap and ideas and knowledge are valuable. Withempowering for all demographics. many of the traditional obstacles removed, anyone withMore than anything, technology has created a belief: an the intellectual property and entrepreneurial mindsetentrepreneurial or enterprise mindset, shared by more can succeed.In addition, whether it’s been statisticallypeople than ever before. Whether you’re 21 proved or not, it’s now widely perceived to be saferor 51 and running any type of business, you can take to start a business than it was in the past. ‘Startingadvantage of the new tools and opportunities open your own business’ is the number one career choiceto you and harness the power of social media and of young people under the age of 23. Given that weits various gadgets and widgets to make you more institutionalize people through education, and moreproduc-tive, become more competitive and help you often than not parental guidance is to pick a safe and
  16. 16. earnest career, that’s a quite a compelling fact.Jobs for life certainly don’t exist any longer.So if there isn’t a safe job, what’s the next Smarter in Fivesafest thing you can do? When you work foryourself you’re in control of your own destiny. 1. All the rules have changedYou are responsible for whether something in your favour.succeeds or not. As the costs of starting upfall and the need to borrow diminishes, sodoes the level of risk. People of all ages are 2. The barriers to entry have been shot to pieces.seeing starting a business as an equal careerchoice to becoming an accountant or a lawyer 3. This is only the start: theor any other career where ultimately your web is still a teenager.performance doesn’t necessarily dictate howsecure your income is.Starting a business hasgrowing appeal for all ages. Those towards the 4. Social media has changed the face of business.end of their traditional careers are beginningto see it as an opportunity to utilize all the 5. Nobody knows the future, but are you operating inskills and experiences they’ve picked up to the present?earn money for themselves and take on a newchallenge. Young people tend to have fewerresponsibilities and see running their ownbusiness as a viable career option that’s justas viable as becoming a teacher or a lawyer.Given that the average student debt now tops£23,500, there’s certainly a case for it beinga cheaper option.Welcome to the enterprisenation.
  17. 17. ‘The Smarta Way to Do Business is the real deal. It’s like having 70 top mentors at your fingertips’Duncan Bannatyne
  18. 18. Start your ownbusiness today…all the advice youneed in one book.Exclusive giveawaysStep-by-step tips andadvice for each step ofyour business journey
  19. 19. Available from all bookshopsand online fromISBN: 978-1-907312-52-6 | November 2010

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