How to start a business in a day

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'How to start a business in a day' as delivered by Emma Jones at Enterprise Nation's one-day business course 'StartUp Saturday'.

'How to start a business in a day' as delivered by Emma Jones at Enterprise Nation's one-day business course 'StartUp Saturday'.

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  • 1. STARTUP SATURDAYHow to start a business in a day!
  • 2. Uncover your big idea and research themarket
  • 3. Coming up with an idea Is there a gap in the market? What is my passion, hobby or skill? Can I improve on an existing product or service?
  • 4. Franchise opportunitiesBuy into someone else’s idea through franchise or direct selling
  • 5. 50 businesses you can start in yourspare time1. Virtual PA 20. Jewelry designer 38. Homestager2. Online information publisher 21. Footwear designer 39. Photographer3. Book publisher 22. Clothing producer 40. Accountant4. Magazine publisher 23. Baby wear supplier 41. Lawyer5. Author 24. Toymaker 42. Translator6. Writer 25. Children’s party organiser 43. IT services7. Blogger 26. Leisure & entertainment 44. Mobile applications developer8. Social media website owner 27. Musician 45. Software developer9. eBay trader 28. Magician 46. Print and web designer10. Online store owner 29. Beer producer 47. Electrical reseller11. Giftware maker 30. Events organiser 48. Network marketer12. Giftware seller 31. Party planner 49. Pet care13. Artisan 32. Mystery shopper 50. Rare breed pig farmer14. Cupcake maker 33. Image consultant15. Cosmetics producer 34. Personal development practitioner16. Hair and make-up artist 35. Fitness adviser17. Origami artist 36. Personal trainer18. Picture artist 37. Lifestyle adviser19. Furniture maker
  • 6. SWOT analysisWhat are my strengths? What can I do better than anyone else? What resources do I have? What’s my unique selling point?What are my weaknesses? What should I avoid? Where do I lack skills? What might hinder my success?What opportunities do I see? Does my idea tap into any trends? Are there any emerging technologies that could help my idea? Has there been anything in the news related to my idea?What threats would I face? What’s my competition? Does changing technology affect my idea?
  • 7. 5 points to include in a business plan
  • 8. I’m off! Idea Market Operations Finances Friends
  • 9. I’m off!Idea  What is your business idea?
  • 10. ResearchResearch the Market: How big is the market? Who is serving my market? What price can I charge?Research Tools: Forums, industry websites, social media SurveyMonkey, Wufoo, Clipboard!
  • 11. I’m off!Market  Who, what and where is the market you will serve?
  • 12. I’m off!Operations  What operations will you need to deliver your service or product?
  • 13. I’m off!Financials  Will any start-up funding be required?  What is projected income, less basic outgoings, i.e. profit!
  • 14. I’m off!Friends  To whom you will turn for support and technical advice?  To whom can you turn at StartUp Saturday?
  • 15. The must-do’s:register the company & protect the brand
  • 16. Decide on company structure Sole trader Partnership Limited Company
  • 17. Notify Companies House - self register or via an agent HMRC - duty to inform & filing dates Registering for VAT
  • 18. IP protection Patents Trade marks Designs Copyright
  • 19. What’s your identity? Company name Logo TaglineYour identity to clients, customers, contacts
  • 20. Week fourStraightforward finance and easy budgetingtechniques
  • 21. Starting on a budgetStart from home!Embrace free social media toolsBeg, borrow and barterApply for Awards & Loans [Shell LiveWIRE,StartUp Loans, Prince’s Trust etc]Work 5 to 9
  • 22. Straightforward financeIncoming:Straight salesCustom ordersSpeaker feesOnline/offline advertisingOther??
  • 23. Straightforward financeOutgoing:SalaryPropertyRaw materials/equipment/stockWebsite/promotionInsuranceOther??
  • 24. Straightforward financeInsurance types:Professional indemnity – protection whenproviding knowledge/business servicesPublic liability – protection when supplyinggoods/people visiting your home officeBusiness interruption – eg flooding/computeroutageEmployers liability – ELTO coming into forceMotor – for vehicles used for business
  • 25. Funding requiredFunding sources:Friends & Family – but best to have anagreement in place!The BankCredit cardsGrants – eg Prince’s Trust, awards for socialenterprises etcCrowd funding –Kickstarter & CrowdCubeInvestors – business plan definitely required!
  • 26. Week fiveTech Tips and how to create the perfectwork environment
  • 27. Household AdminDo I need planning permission?Will your home no longer be used as privateresidence?Will your business lead to marked rise intraffic/noise etc?Will your business involve any activitiesunusual in residential area?Will you disturb the neighbours?No = safe. Yes = planning permission may berequired!
  • 28. Household AdminDo inform:LandlordMortgage companyInsurance provider  Professional indemnity  Public liability  Stock & equipmentHealth & Safety adviser from council (if cookingfrom home)Neighbours
  • 29. Setting up with ITHardware – ComputerLook out for:ProcessorMemoryHard driveDisplay (for desktops)Standard features eg optical drive/wirelessconnectivity
  • 30. Setting up with ITPeripheralsLook out for:Multifunction printerExternal hard driveWebcamSpeakersKeyboard & mouseVoIP phones
  • 31. Setting up with ITSoftwareLook out for:Office SoftwareCloud tools eg GoogleApps/Dropbox/MailChimp
  • 32. IT SupportGeeks on WheelsThe Tech GuysGeek SquadTech Tuesday on Enterprise Nation
  • 33. Creating a perfect workenvironment Find dedicated space [spareroom/attic/shed/external office]Invest in good desk and chairLight shades make room look biggerDouble up with chairs as storage/wardrobe asfiling cabinet!Have a vision …
  • 34. Your vision boardBusiness goalsPersonal aimsPlaces you want to visit/people with whom youenjoy spending time/financial targetsLook at it morning, noon & night!
  • 35. Week sixBuilding a home on the web
  • 36. Start by bloggingFree & easy to get started. Try:Blogger www.blogger.comTypePad www.typepad.comWordPress www.wordpress.comAnd make money from your blog!
  • 37. Your own websiteDIY option:Buy a domainBuy hostingInclude basic pages  About us  News  Products & Services  FAQs  Contact us
  • 38. Your own websiteTemplate site:Look for one whose design you likeE-commerce built in?Easy to manage & maintain?  Create www.create.net  Mr Site www.mrsite.com  Moonfruit www.moonfruit.com  Magento www.magentocommerce.com  GBBO [a site for free!] www.gbbo.co.uk
  • 39. Legal considerationsEnsure your site is legally compliant:Display terms of useDisplay privacy policyDisplay terms of saleProtect copywrite in contentState who you are!
  • 40. Presence on other sitesBe known across the web by having presenceon mega-marketplaces/high traffic sites:eBay – for any kind of e-tailerElance – providers of business servicesAlibaba.com – international tradeAmazon Marketplace – consumer productsEtsy.com – handmade/craftiStockphoto.com – photography
  • 41. Rise up search engine ranksDevelop skills in Search Engine Optimisation:Home page – quality & fresh contentOther sites – offer to write posts & commentLinks matter – link to and from high traffic &quality sitesTitle tagging – include words your customerswill be searching forUse Google AdWords Keyword tool to findwords people are searching for!
  • 42. Pay Per Click (PPC) AdvertisingThese are results appearing in right hand ofpage and are paid for results:Google Adwords are most popular – access£35 of free Adwords via offers page atwww.startupbritain.orgConsider Facebook ads which can be clearlytargeted
  • 43. Social sharingMake it easy for site visitors to share yourcontent via social sharing:Delicious www.delicious.comDigg www.digg.comStumbleUpon www.stumbleupon.comTwitter www.twitter.comAddThis www.addthis.com
  • 44. Polish often!Your website is your window to the world. Polishit often!Use good imagesUpload fresh contentCheck for broken linksRepeat!
  • 45. Week sevenSimple sales roadmap and cold-callingmade easy
  • 46. Sell, Sell, Sell!5 steps to making sales:Make a list (check it twice)Pitch up – make your pitch & make it personalFollow up – with a next email or callMeet up – if prospect shows interestMake some noise – tell everyone about yourfirst sale as you’re now in business!
  • 47. Sales materialsProduce promotion flyers to take to events:Go for a clean and memorable designBe clear on the offerOutline benefits to the customer of buyingInclude a call to action ie if the person isinterested, what do they do next?
  • 48. Sales callsSecrets to success:Warm up for the call by preparing. Have a clearcall list & objectivesFeel confident & think positiveMake the call whilst standing up & smilingDevelop a list of open questions allowing you toengageAgree action & follow up!
  • 49. Selling onlineMake the most of online sales tools:Shopping carts (www.groovycart.co.uk /www.zen-cart.com / www.cubecart.com etc)E-commerce tools (plug-ins for your website orblog)Add PayPal button bit.ly/blxrUnGoogle Checkout checkout.google.comSage Pay www.sagepay.com
  • 50. Make money from your site/blog10 ways to ‘monetise’ your website or blog:Display advertising – via a media rate cardGoogle AdSense – places ads on your siteTextLink Ads – paid-for click throughs from yoursiteSponsored conversations – get paid for posts!Affiliate schemes – earn from makingrecommendations to visitors eg Amazon affiliatescheme
  • 51. Make money from your site/blogTry these too:Sponsored features – approach advertiserswith suggestion of sponsored e-news, eBook,podcast, report, webchat, poll or surveyExpert help – offer expertise viateleclasses/online webinarsDeals with suppliers – arrange revenue shareTurn a blog into a bookPlease donate!
  • 52. The legal bit …When making sales online be aware of theDistance Selling Regulations:Offer clear informationCustomer has period of 7 days to cancelcontract with youOnly applies when selling to consumers asopposed to businesses
  • 53. Week eightMake some noise!
  • 54. Get knownFirst step is to get yourself known:Plot the script – what’s your story?Find the right connections – who are thejournalists covering your trade?Write a release – see next slide for contentpointers. Send to known contacts & vianewswires eg www.responsesource.comRequest a link – if you’re being featured online
  • 55. Write a releaseThis is what your release should contain:Attention grabbing headlineFirst line explains what/who/why/where ofheadlineBack up headline with facts & figuresInclude quotesInclude links to find out moreInclude contact detailsUse great imagery!
  • 56. Take a pollThe media like facts/figures/survey findings.Take a poll using tools such as:  SurveyMonkey.com  Wufoo.com
  • 57. Enter AwardsWin profile and prizes from entering!Shell LiveWIRE Grand Ideas AwardsThe Pitch 2011AXA Ambition AwardsSocial enterprise awardsNectar Small Business AwardsStartups AwardsEtc, etc, etc …
  • 58. Host an eventInvite press & clients to come to you:Bootstrap budget – by partnering withvenue/drinks provider etcOffer a theme/hook – to attract people alongMake most of online tools – such asEventbrite.com and Meetup.comUse occasion of the event to write a pressrelease!
  • 59. Join a group/clubThere are lots of options:Athena Club4NetworkingBusiness SceneEcademyJellyFirstFridayKeep in touch with StartUp Saturday pals!
  • 60. Become an expertBecome known by becoming an expert in yourfield. Here’s how:Publish a bookPresent yourselfHost a webinarProduce a filmBroadcast a podcastDeliver trainingForm groups
  • 61. Create the right first impressionPeople are hearing about you so they visit yoursite/meet you. Create a lasting impression with:Good logo and company imageryProfessional addressTelephone answering serviceQuality printed materialsFollowing the rules of effective face to facenetworking!
  • 62. Week nine5 essential social media tools and how tomake the most of them
  • 63. TwitterVisit www.twitter.com, create an account andtake advice from Twitter expert, Mark Shaw:Be committed – add a picture, update your bio.Stand out!Be consistent – tweet a little every dayBe interesting – aim for 3 types of tweets;social chit-chat, sharing of useful info &answering questions to show knowledgeBe interested – join in the conversation.
  • 64. FacebookFacebook is the most popular social networkingsite in the world. Make the most of it forbusiness:Create a Facebook page to promote yourbusiness Invest in Facebook ads that can be highlytargetedAttract friends & fans and test out your ideasDownload free ‘Boost your Business onFacebook’ eBook at www.enterprisenation.com
  • 65. LinkedInLinkedIn is the world’s largest professionalnetwork with 100 million plus members. Tips:Present a professional pictureBuild connectionsWrite a personal taglinePut your elevator pitch to workPoint out your skillsAsk & answer questionsMake & request recommendations
  • 66. FlickrJoin Flickr.com and promote yourself visually.Upload photos & videos from:Events you host, speak at or attendProducts you makeHappy customersYour workspace/colleaguesPull the photos into your blog/social mediapages.
  • 67. YouTubeYouTube is the world’s most popular online videocommunity. Use for business purposes:Create an accountStart a channelBegin broadcasting to the worldGive each of your videos and name and tag withkeywords to make it easier for people to findwhen searching online.
  • 68. Measure resultsMeasure what’s working with these tools:Google AnalyticsAlexaClickyCrazyEggOpentrackerStatCounterIf showing upward curve, remember to updateyour media rate card!
  • 69. Week tenHow to grow the business withoutoutgrowing the home
  • 70. Team work saves timeFree yourself up by outsourcing functions toexperts and others. What to outsource?Admin – hire a virtual PA to do the jobs youdon’t want to do! Check out:  Society of Virtual Assistants  VA Success Group  Virtual Assistant Coaching & Training Co.  Virtual Assistant Forums  Time Etc
  • 71. Outsource … PR, marketing/design & sales. Check out:  Enterprise Nation  Buildabrand.com  99 Designs  Elance  Peopleperhour.com  Winning Sales
  • 72. Outsource … Customer service & IT. Check out:  Getsatisfaction  Geeks on Wheels  The TechGuys  The Geek Squad  Staples EasyTech
  • 73. Outsource …Accounts. Ask for recommendations of localaccountants and/or check out:  FreeAgent  KashFlow  Liquid  QuickBooks  Sage One
  • 74. Steps to successful outsourcingTake these steps to achieve best results:Do the groundwork – spend time working ontask yourself so you have knowledgeBe clear on the brief – the clearer the brief, thebetter the resultsTake your time and take references – anoutsource partner is as good as an employeeLet go! – let someone else become responsiblefor results.
  • 75. Form teamsMake most of project management tools to keepin touch & on top of deadlines. Check out:  Basecamp  Google Docs  HuddleWork with anyone, anywhere with:  GoToMeeting  Powwownow  Skype
  • 76. Form partnershipsIf relationships develop, form a partnership andproduce an agreement to cover:  Scope of agreement  Respective responsibilities  Finances  Be fair  Sign it! Check out Clickdocs.co.uk for standard templates.
  • 77. Work on the moveMeet partners & suppliers and continue to workon the move with:  Your computer – via wireless internet connection & a spare battery!  Accessing wi-fi hotspots – via BT OpenZone, The Cloud & T-Mobile Hotspots  Your mobile phone – work smart with a smartphone!  Services in the cloud – eg Google Apps and/or remote desktop.
  • 78. Attract customers backGive customers & clients a reason to return with:Fresh & user-generated content – so visitorsreturn to see what’s now. Enable visitors to getto know each other with a forum and/orcomments on postsExclusive offers – could be conditional on themreferring a friend?Guest appearances – invite guests on to yoursite/blog to keep interest high
  • 79. Keep in touchKeep in touch with a regular e-newsletter. Tryout:Mailchimp www.mailchimp.comAWeber Communications www.aweber.comSign-Up To http://getstarted.sign-up.to
  • 80. Keep the business in balanceKeep the business in balance by following thegolden triangle and spend roughly third of timeon 3 things :Customer care - keeping existing customershappyNew business - winning new workAdmin – keeping on top of the cash/the books!
  • 81. Cash is kingKeep an eye on accounts so you can see howmuch money is in the bank and owed  Invoices – be on time with invoicing; both raising and settling! [Kit contains a template invoice]  Receipts – keep all business related receipts so amounts can be claimed to reduce tax bill
  • 82. Keeping track of time If time is what you sell, you’ll want to keeptrack of it! Check out these helpful tools:  Freshbooks www.freshbooks.com  Remember the Milk www.rememberthemilk.com  Cashboard www.getcashboard.com  Four Four Time www.fourfourtime.co.uk  TraxTime www.spudcity.com/traxtime
  • 83. Seek help & supportFind help on your journey to start & grow viathese sources:Your peers – who better to turn to than otherswho have been there/done it. Find them here:  Enterprise Nation www.enterprisenation.com  BusinessZone www.businesszone.co.uk  StartUp Donut www.startupdonut.co.uk  Inafishbowl www.inafishbowl.com
  • 84. Seek help & supportMentors – find experienced entrepreneurs whocan offer technical/specialist expertise and/orsounding board:  Access mentoring programmes via www.startupbritain.org  MentorsMe www.mentorsme.co.uk
  • 85. Seek help & supportYour fellow StartUp Saturday’ers!!
  • 86. STARTUP SATURDAYA week by week guide to starting a business