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Setting yourself up in business warts and all

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A presentation to staff under threat of redundancy at Yorkshire Forward, the Regional Development Agency, who were interested in setting up a new business rather than going back in to employment.

A presentation to staff under threat of redundancy at Yorkshire Forward, the Regional Development Agency, who were interested in setting up a new business rather than going back in to employment.


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Transcript

  • 1. Setting Yourself Up In Business – Warts and All Insights from someone who has been there…. Jonathan Hirst
  • 2. Setting Yourself Up In Business – Warts and All My background Started Network Sales & Marketing Ltd in 1996 Set up The Book Recruitment in 2004 Founded ITogether in 2006
  • 3. Setting Yourself Up In Business – Warts and All Start with the end in mind What do you want out of this new venture £ Time Challenge Retirement/An exit strategy
  • 4. Setting Yourself Up In Business – Warts and All Understand what drives you… …you’ll need to rely on this in the tough times!
  • 5. Setting Yourself Up In Business – Warts and All Get yourself a great accountant… They will save you more than they cost
  • 6. Setting Yourself Up In Business – Warts and All Invest in sound legal advice
  • 7. Setting Yourself Up In Business – Warts and All What are you great at?
  • 8. Setting Yourself Up In Business – Warts and All What’s the big idea? Why will people buy off you? What makes you different? Is there a gap in the market? Are you a ‘me too’?
  • 9. Setting Yourself Up In Business – Warts and All Budgeting - essential for any business - a benchmark to judge how well you are doing - Critical to ensure external financial support - Not as complicated as they look
  • 10. Setting Yourself Up In Business – Warts and All Sales & Marketing - Research - Understand your customers & channels to market - Ideas Generation - Work with a freelancer/agency - Create integrated campaigns - Start with great onsite SEO - Plan for the future – think about costs
  • 11. Setting Yourself Up In Business – Warts and All Property - Look for flexible solutions - Consider the total cost, not just headline rents - Avoid taking on excessive space - Always ask for Incentives
  • 12. Setting Yourself Up In Business – Warts and All Making money Turnover is Vanity, Profit is Sanity The importance of managing cashflow
  • 13. Setting Yourself Up In Business – Warts and All Stages in a business’s growth Employing staff Making it scaleable
  • 14. Setting Yourself Up In Business – Warts and All General tips Don’t take anything personally Everything is down to you Be consistent, internally and externally This can be a solitary existence Enjoy it!
  • 15. Running Your Own Business Good luck, be brave.