WBS Entrepreneurship Mentoring Workshop -28 July 2011 - Simon Corbett
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WBS Entrepreneurship Mentoring Workshop -28 July 2011 - Simon Corbett

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WBS Entrepreneurship Mentoring Workshop -28 July 2011 - Simon Corbett WBS Entrepreneurship Mentoring Workshop -28 July 2011 - Simon Corbett Presentation Transcript

  • Warwick University: Business Start-Up WorkshopSimon Corbett
    28 July, 2011
  • Running your own business…
    20mins
    Sold, Failed & Growing: business 1, 2 & 3
    The Challenges ..
    The Opportunities …
    The Advice ….
  • Introduction
    32yrs old, Married & Daughter
    Education:
    • Degree: De Montfort University View slide
    • Masters: Warwick University View slide
    • Professional Qualifications: CIM, CIPR, MRS
    Career
    • 1999-2000: Weber Group – Junior Account Execu
    • 2002-2005: Porter Novelli – Account Exec, Snr Account Exec
    • 2005-2008: Edelman – Account Mgr, Snr Acc Mgr, Acc Dir
  • Business 1: JobsMK.co.uk - SOLD
    Year: 1999
    Idea: Localised on-line recruitment in Milton Keynes
    Customers: Recruitment Agencies & Hiring Companies
    Finances: High margins, high cost of brand awareness
    Within 12 months
    Team of 4
    40+ recruitment agencies
    50+ hiring companies
    20,000 site visitors per week
    Exit: Sale to recruitment agency: D&P Recruitment
  • Business 2: Limo’s to London - FAILED
    Year: 2000
    Idea: VIP drinks, limo to London - club entry & home
    Customers: Company Parties, Socialites
    Finances: Person 6 was break even
    Within 3months
    8+ limo’s per week
    300+ people per month
    Exit: High turnover, low profit margin & burnout (lifestyle biz only)
  • Business 3: Jargon PR - GROWING
    Year: 2008
    Idea: B2B Tech PR Agency
    Media & Analyst Relations
    Awards & Events
    Conf Speaker Opportunities
    Blogger Relations
    Customers: B2B Tech Companies
    Finances: Self-funded
  • Within three years ….
    Top 40 UK Tech Agency: PR Week, 2010
    Winner: CIPR – Outstanding Small Agency of the Year, 2010-2011
    Silver Awards: CIPR – Campaign of the Year, 2010-2011
    New Media Age: Top 100 UK New Media Agency
    20 retainer clients
    5 x full time staff / 2 x part time staff
    Up’s
    Surpassing £250k in fee income
    Winning ‘Outstanding Small Agency of the Year’
    Dublin, 3 days & partners Christmas Party
    Down’s
    Started July/August 2008 – Recession September 2008
    Firing Staff
    Hiring the wrong people
  • The Challenges
    Work: work in the business, not on the business
    Financial: you are the CFO
    Personal: wife, family, friends
    Staff: finding, incentivising, retaining
    Professional: competing against old employer & loosing
  • The Opportunities
    Work: Exciting, interesting, highly motivating
    Financial: No one sets your wages!
    Personal: Proud, supportive & loving friends & family
    Staff: Develop and help someone grow
    Professional: Awards, recognition, media profile, experience
  • The Advice
    Believe in yourself – no one else will
    Understand your market: research, research, research
    Understand your business and focus 100%
    Employ people better than you!
    Make sure your business is scalable
    Biz Plan: 5 words – retain and get more customers!
    Understand what people want: power drill verses hole in the wall
    If bad things don’t happen, you don’t appreciate the good things that do
    Luck will play a part in your success – the harder you work, the luckier you will get!
    Don’t let anyone ever tell you you can’t do something!
    Take as much advice from other people as possible
    Chase success, not money
    Success is an inspiration, failure is an experience!
    You must be passionate about your business!
  • “Destiny is not a matter of chance but a matter of choice. It is not a thing to be waited for, it is a thing to be achieved”
  • Thank You