The Why, What & Who of Starting Up


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The Why, What & Who of Starting Up: a birds-eye view of starting up and the tools you need... plus the organisations that can help you. Presented to JCI Mayo.

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The Why, What & Who of Starting Up

  1. 1. The Why, What & Who of Starting Up Olwen DaweOwner - Irish Business Intelligence JCI - Mayo
  2. 2. Who the hell am I?• My business – Irish Business Intelligence – Mentors, coaches and supports start-up businesses; – Provides strategic advice and consulting to SMEs; – Project management and consulting to enterprise organisations in Mayo / Western Region. JCI - Mayo
  3. 3. My background…• BBS Degree in HRM & IR;• Small Business & SME: operations, marketing, strategy.• Corporate: HR, strategy, training, management; JCI - Mayo
  4. 4. What I want to talk to you about tonight… Are you thinking of starting a business?Would you like to know more about becoming self-employed? The things you should know… How to get started… What’s available to me? I’ll also take any questions you might have… JCI - Mayo
  5. 5. What three traits do you think an entrepreneur exhibits? JCI - Mayo
  6. 6. # 1 - VisionJCI - Mayo
  7. 7. # 2 - Planning JCI - Mayo
  8. 8. # 3 - Determination JCI - Mayo
  9. 9. Other key traits… JCI - Mayo
  10. 10. SO… WHYwould you start your own business? JCI - Mayo
  11. 11. #1 – WHY would I consider starting my own business?Simply! Because you want to! Health warning: It takes determination, consistency and commitment… oh, and money helps too!Because you have a passion, interest orproduct idea you are energised by andcommitted to…… and you feel you can go the distance with it… JCI - Mayo
  12. 12. #1 – WHY would I consider starting my own business?Because you know you have a market… … don’t go out into the market blinkered… do your research… Because you know you can compete / have a USP or niche… … make sure you have a clear sense of your audience, competition and your ‘angle’ in the market. JCI - Mayo
  13. 13. #1 – WHY would I consider starting my own business?Maybe you have an idea for an invention, ablueprint?Perhaps you’ve seen a product which isn’tavailable in Ireland you’d like to distribute?Just want to go ‘freelance’?Have skills you can provide to others?Want to become a franchisee? JCI - Mayo
  14. 14. WHAT …do I do to get started? JCI - Mayo
  15. 15. #2 – WHAT do I do to get started?Well, this is the time for the boring stuff… RESEARCH… A very necessary evil. Many successful entrepreneurs gamble on luck and opportunity – not all succeed… it can be costly if you don’t know the facts.Researching your product / service and its potentialmarket is hugely important when setting aboutstarting a business. JCI - Mayo
  16. 16. #2 – WHAT do I do to get started?Your research should clearly define that you have a market.… and who your competition is…How you will market yourself?… what funding / monetary requirements your business will have…How will I fund the business?… what help do I need? Financially and support-wise? Do I have all the skills I need to run this business?What is my USP? Do I have one or am I creating a ‘Me Too’ business? JCI - Mayo
  17. 17. #2 – WHAT do I do to get started?How might you research your business idea?Through online resources – such as surveys, forums, questionnaires etc…Through traditional methods, such as focus groups, secondary data [industry publications, data]…Remember: your research data has GOT to be relevant, tested and follow a method which clearly demonstrates that you have an understanding of your potential market. JCI - Mayo
  18. 18. #2 – WHAT do I do to get started? Lots of questions to be answered! When they’re done, you need to PLAN, PLAN, PLAN… *Oh NO – not a BUSINESS PLAN?!*Don’t be intimidated by the Business Plan… Remember,your plan is actually your vision for the business, and actsas a roadmap for achievement of your goals, which youreview on an ongoing basis. It should be a live documentwhich does NOT sit and gather dust…DON’T have someone else do your business plan, you’refooling yourself by maintaining it’s your own if you do… JCI - Mayo
  19. 19. #2 – WHAT do I do to get started? #1 Priority… Get it all down on paper and make yourself comfortable with your business plan… OWN YOUR BUSINESS PLAN.If you don’t know what you are going to do, how you’re going to do it – the finance, people and processes involved – how are you going to make it happen? JCI - Mayo
  20. 20. WHO…can help me? JCI - Mayo
  21. 21. #3 – WHO can help me?There are specific supports available to start-ups, small businesses and SMEs in theWestern region.Ensure you know what you are looking for,and what stage you’re at…What do I need? Mentoring? Advice?Financial support? JCI - Mayo
  22. 22. #3 – WHO can help me? The Mayo / Western Region Supports Mayo Ideas Lab [WestBIC] Mayo County Enterprise BoardSouth West Mayo & Mayo North East Leader [SWMDC & MNELP] Innovation in Business Centre [IiBC] JCI - Mayo
  23. 23. #3 – WHO can help me? Mayo Ideas Lab [WESTBIC]• Insight and support on developing your new business idea;• Feedback and guidance for your idea through the Mayo Ideas Form – available on;• Management of Mayo Ideas Week – entrepreneurial support, training and guidance week in September. JCI - Mayo
  24. 24. #3 – WHO can help me? Mayo County Enterprise BoardCatering for business start-ups and micro-enterprises up to 10 employees. • Training Courses – marketing, finance, start your own business• Mentoring – one-to-one sessions in specific areas of need / support• Some Financial Assistance / Grant Aid – based on eligibility • General Grant Aid may be available for: – Capital – Employment – Feasibility Studies MORE INFO: WWW.MAYOCEB.COM JCI - Mayo
  25. 25. #3 – WHO can help me? South West Mayo & Mayo North East Leader Companies Rural Development Programme [RDP] 2007-2013 Based on eligibility• Grant Aid may be available for: – Diversification into Non-Agricultural Activities – Support for Business Creation & Development – Encouragement of Tourism Activities – Basic Services for the Economy and Rural Population – Village and Countryside Renewal and Development – Conservation and Upgrading of Rural Heritage – Training and Information• There are also training and mentoring services available to individuals based on eligibility Applicants must be able to show evidence that they can pay [and will be able to pay] for the project themselves Upcoming information sessions on the above from SWMDC W/C 13TH & 20TH of February MORE INFO: WWW.SOUTHMAYO.COM JCI - Mayo
  26. 26. #3 – WHO can help me? Innovation in Business Centre [IiBC]• IiBC supports the development of new enterprise in the region by providing incubation space and business development supports for the nurturing of new ideas and the commercialisation of applied research;• Supported by Enterprise Ireland, the IiBC has 10 incubation units as well as Concept Desk Space and runs annual programmes for individuals developing business ideas, as well as courses for HPSU [High-Potential Start-Up] businesses.• A national programme to develop entrepreneurs with an export-potential, high growth business idea, will commence in 2012, funded by Enterprise Ireland. The programme will be delivered by the IiBC, over a six-month intensive period participants will learn how to establish and run a new company. Qualified entrepreneurs will receive €15,000 in funding subject to satisfactory development reviews. MORE INFO: WWW.GMIT.IE/IIBC/CASTLEBAR JCI - Mayo
  27. 27. … When I’m up, running and growing? Other points of contact / advice: • WDC – Western Development Commission • Enterprise Ireland [EI] • InterTrade Ireland JCI - Mayo
  28. 28. … When I’m up, running and growing? WDC / Western Development Commission Statutory body set up to promote social and economic development in the Western Region.• Ensuring that government policy is directed at improving the social and economic situation in the region;• Developing projects in tourism, industry, marine, renewable energy, technology and organic agri-food, and so on;• Operating the Western Investment Fund (WIF) to provide loans and equity to business and local communities in the West. MORE INFO: WWW.WDC.IE JCI - Mayo
  29. 29. … When I’m up, running and growing? Enterprise Ireland The government organisation responsible for the development and growth of Irish enterprises in world markets.• Focused on HPSU, export-ready businesses – outside the remit of CEB;• Supports include [based on eligibility]: – Funding; – R&D; – Management Strategy & Advice; – Productivity. MORE INFO: WWW.ENTERPRISE-IRELAND.COM JCI - Mayo
  30. 30. … When I’m up, running and growing? InterTrade Ireland InterTradeIreland supports SMEs across the island to develop North/South trade and business development opportunities for the mutual benefit of both economies.• Business funding programmes;• Mentoring supports & advice on cross-border trade. MORE INFO: WWW.INTERTRADEIRELAND.COM JCI - Mayo
  31. 31. In sum… If you’re thinking of starting up: • Know your product / service; • Know your market & competition; • Have your research well prepared; • PLAN – make it clear and realistic – BE PREPARED;• Know who to talk to and what to ask for… … and then JUST DO IT. JCI - Mayo
  32. 32. JCI - Mayo
  33. 33. Thank you for your time… Any questions? JCI - Mayo