‘ Getting your business past the  survival stage’ Rory MccGwire CEO, BHP Information Solutions 20  May 2010  © BHP Informa...
1.  Starting up: a reality check   2. Evaluating your business idea   3. Your polar expedition: one chance to prepare   4....
1. Starting up: a reality check   a. Why will anyone buy from you? b. Committed customers on day one c.  The great myth: y...
To be a survivor… <ul><li>Be realistic about how difficult it may be to get customers to buy your product/service </li></u...
2. Evaluating your business idea a. How many target customers will you contact each week? b. What percentage of these will...
  To be a survivor…   <ul><li>Face up to your lack of resources: time, money </li></ul><ul><li>Don’t kid yourself about sa...
3.  Your  polar expedition: one chance to prepare a. Polar expedition? b.   Business plans are helpful: identify issues, f...
To be a survivor… <ul><li>Be prepared, so your polar expedition succeeds  </li></ul><ul><li>Know the needs of your custome...
  4.  You: the deciding factor   a. It is all down to  you   b. Match the challenge to your ability c. If you 100% believe...
To be a survivor… <ul><li>You (or your team) must ideally be:  </li></ul><ul><li>self-starter, salesperson, responsible, h...
5. Tips for success a . Expensive way to learn? b. Self-finance at first c. Credible team d. Stepping stones: reference si...
To be a survivor… <ul><li>Spot the obstacles quickly, then adjust </li></ul><ul><li>Focus on your objectives </li></ul><ul...
1 . Starting up: a reality check   2. Evaluating your business idea   3. Your polar expedition: one chance to prepare   4....
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‘Getting your business past the survival stage’

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1. Starting up: a reality check

2. Evaluating your business idea

3. Your polar expedition: one chance to prepare

4. You: the deciding factor

5. Tips for success

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  • Welcome Intro RM/BHP Put hand up if Contemplating running First year? Beyond first year? Other? Internet novice? Internet medium experienced? Internet very experienced?
  • ‘Getting your business past the survival stage’

    1. 2. ‘ Getting your business past the survival stage’ Rory MccGwire CEO, BHP Information Solutions 20 May 2010  © BHP Information Solutions 2010
    2. 3. 1. Starting up: a reality check   2. Evaluating your business idea   3. Your polar expedition: one chance to prepare   4. You: the deciding factor 5. Tips for success Getting your business past the survival stage in 5 steps
    3. 4. 1. Starting up: a reality check a. Why will anyone buy from you? b. Committed customers on day one c. The great myth: you need a unique idea d. It’s like sport. What league is realistic for you? e. Get your wallet out and watch the queue form
    4. 5. To be a survivor… <ul><li>Be realistic about how difficult it may be to get customers to buy your product/service </li></ul><ul><li>Give customers a sufficient reason to buy from you: trial, speed, quality, flexibility, start-up charm, not price </li></ul>
    5. 6. 2. Evaluating your business idea a. How many target customers will you contact each week? b. What percentage of these will turn into sales? c. How much repeat business will you get? d. How much is your average sale worth?  Sales forecast e. Expenditure (direct costs, overheads) forecast f. Cashflow forecast, breakeven point, funding requirement
    6. 7. To be a survivor… <ul><li>Face up to your lack of resources: time, money </li></ul><ul><li>Don’t kid yourself about sales forecasts </li></ul><ul><li>Set out to build a business and a track record </li></ul>
    7. 8. 3. Your polar expedition: one chance to prepare a. Polar expedition? b. Business plans are helpful: identify issues, focus on priorities <ul><li>Product/service </li></ul><ul><li>Sales strategy </li></ul><ul><li>Costs </li></ul><ul><li>Personal expenses </li></ul><ul><li>Cashflow </li></ul><ul><li>Finance, banking </li></ul><ul><li>Accounting </li></ul><ul><li>Workplace </li></ul><ul><li>Operational issues </li></ul><ul><li>(e.g. delivery) </li></ul><ul><li>Legal, tax (e.g. business form, VAT, NI) </li></ul><ul><li>Advice* </li></ul>
    8. 9. To be a survivor… <ul><li>Be prepared, so your polar expedition succeeds </li></ul><ul><li>Know the needs of your customers and have solutions ready to deliver </li></ul><ul><li>Use help, take advice, but choose who to listen to </li></ul>
    9. 10. 4. You: the deciding factor a. It is all down to you b. Match the challenge to your ability c. If you 100% believe, others will d. It can feel like climbing Everest e. Are you doing it for the right reasons?
    10. 11. To be a survivor… <ul><li>You (or your team) must ideally be: </li></ul><ul><li>self-starter, salesperson, responsible, hard working </li></ul><ul><li>Win the support of your family before you begin </li></ul><ul><li>Believe! </li></ul>
    11. 12. 5. Tips for success a . Expensive way to learn? b. Self-finance at first c. Credible team d. Stepping stones: reference site e. Overwhelmed? Stop, plan, break down tasks f. Focus on key opportunities g. Sell to decision-makers, with budgets h. Get a buddy
    12. 13. To be a survivor… <ul><li>Spot the obstacles quickly, then adjust </li></ul><ul><li>Focus on your objectives </li></ul><ul><li>Build on success </li></ul>
    13. 14. 1 . Starting up: a reality check   2. Evaluating your business idea   3. Your polar expedition: one chance to prepare   4. You: the deciding factor 5. Tips for success Getting your business past the survival stage
    14. 15. ‘ Getting your business past the survival stage’ www.startupdonut.co.uk www.marketingdonut.co.uk www.lawdonut.co.uk www.enterprisenation.co.uk www.businesslink.co.uk  

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