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The making of an entrepreneur by pier paolo mucelli @nacue 2010 02

The making of an entrepreneur by pier paolo mucelli @nacue 2010 02






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    The making of an entrepreneur by pier paolo mucelli @nacue 2010 02 The making of an entrepreneur by pier paolo mucelli @nacue 2010 02 Presentation Transcript

    • Pier Paolo Mucelli “ The Making of an Entrepreneur” ENTREPRISE BOOTCAMP - Jan 2010
    • Background
      • Originally from North East of Italy (manufacturing cluster)
      • Father successful entrepreneur (self made)
      • Two brothers run a large manufacturing company (plastic card industry), exporting worldwide
      • Other family members set up businesses in the past with mixed success
      • Family witnessed several economic cycles in 60ies, 70ies, 80ies, 90ies, 00ies, and 10ies
    • Education / Working Experience
      • Graduated at Warwick University late 80ies
      • Specialization in international marketing in Toulouse - Sup De Co
      • Worked during summer as intern
      • First real job as management consultant, quit after 9 months
      • Joined university friends and worked in sales with a new company in Malaysia (manufacturing) in early 90ies
      • Become Vice President with worldwide sales responsibility, company exported to 100 countries
      • 2000 failed stock market float, resigned early 2001
    • The Business Idea
      • Original idea end of 1999
      • Brand eOffice registered before business was born
      • Influenced by dot-com boom of late 90ies, emergence of new technologies and ways of working
      • Fascinated by design and technology, ideal to create a great workplace for entrepreneurs and small businesses
    • eOffice – The Concept
      • eOffice  offers beautifully designed, high tech, fully furnished and serviced offices in city centre locations
      • eOffice  workspace is based on an open plan environment, or “office neighbourhoods” with few wall to wall partitions, where good aesthetics and design are combined with information-age technology.
      • Main service lines are virtual offices (business address and telephone answering), hot desking (touch down), fully furnished office, meeting and conference facilities
      • Additional services include administration and online services, making eOffice a one-stop-shop for start-ups and SMEs
      • Strong activities for members, including company visits, networking events and powerful online communities (
      • eOffice  centres provide a suitable office solution for small businesses, start-ups and self-employed, in particular in the creative, media and technology sectors
      • All services are sold online, with an ecommerce platform
      • eOffice Soho
      • eOffice Manchester
      • eOffice Birmingham
      • eOffice Bristol
    • How did I start
      • Idea : Develop a unique concept, a superior offering to the current offers in the market
      • Funding : Received funds from father to buy a flat in London, sold it and invested in the business
      • Premises : rented a small room at my accountant office
      • Team : Initially only a part time marketing consultant, then employed cousin as sales executive, only started to employ after launch
      • Launch: after Sep 11 th landlords become more flexible, secured first lease and launched in Soho Apr 2 nd 2002
    • Early Challenges
      • Very slow take up because of economic slowdown and lack of visibility
      • Company loss making immediately after launch
      • Early technical glitches
      • Small and inexperienced team
    • Turn around
      • Focused on providing personalised service to existing clients
      • Launched Google ad campaign
      • Serial networking and presence at local exhibitions
      • Small but dedicated team
      • Company breaks even after 18 months
      • Expansion starts in 2006
      • Currently in 4 UK locations, soon to launch franchise scheme
    • Building Knowledge
      • Properties: Working with property consultant to identify appropriate sites. Visited hundreds of properties since 2001, hands on approach
      • Interiors: Since 2000, visited major design/trade exhibitions including Salone del Mobile – Milano, and French/Germany/UK fairs
      • Technology: Attending small and large technology events, including Cebit
      • Start up community : Attending smaller events targeting startup community in London and UK, and sponsoring many events
      • Client Networking: Participating to eOffice networking events (Net Thursdays, Coffee Fridays, and Lunch with the CEO), to understand clients requirements. Several online group resources
      • Knowledge building: Subscribing to over 50 publications, and several specialised newsletters/blogs/online resources
    • Tips and lessons learned
      • Knowledge: Prepare yourself, study the market, attend events/fair/presentation and read a lot
      • Innovate: W hatever you do, do it better than existing providers, offer benefits to your clients
      • Marketing: Try different marketing and promotional activities and then focus on the most effective
      • People : Even with the best products/services, you need a good team around you to implement your vision
      • Perseverance: If you believe in what you do, be focused and patient, it takes a long time to build a stable business
    • The Myths of Entrepreneurship
      • Work for yourself: You are working for everybody else (other shareholders, your employees, banks, business partners, suppliers and clients)
      • Great lifestyle: Get ready for longer hours, shorter holidays and more responsibilities
      • Make money: A small percentage of small businesses succeed and be prepared to get no salary for a long period of time
    • Current Opportunities for Startups
      • The Workforce: You can outsource several company functions and bright human resources are available at competitive conditions
      • The Workplace: You can work anywhere and your workplace infrastructure can be flexible, scalable and economic
      • The Markets: WWW (worldwideweb) gives access to global information resources and international markets as never before
    • Resources
      • Techcruch: www.techcrunch.com/
      • Seth Godin: http://sethgodin.com
      • MyeOffice Blog: www.myeoffice.com
      • SmallBiz Pod: www.smallbizpod.co.uk