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?
Franchise opportunitiesBuy into someone else’s idea through franchise or direct selling
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
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?
Straightforward financeInsurance types:Professional indemnity – protection whenproviding knowledge/business servicesPublic liability – protection when supplyinggoods/people visiting your home officeBusiness interruption – eg flooding/computeroutageEmployers liability – ELTO coming into forceMotor – for vehicles used for business
Funding requiredFunding sources:Friends & Family – but best to have anagreement in place!The BankCredit cardsGrants – eg Prince’s Trust, awards for socialenterprises etcCrowd funding –Kickstarter & CrowdCubeInvestors – business plan definitely required!
Week fiveTech Tips and how to create the perfectwork environment
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!
Household AdminDo inform:LandlordMortgage companyInsurance provider Professional indemnity Public liability Stock & equipmentHealth & Safety adviser from council (if cookingfrom home)Neighbours
Setting up with ITHardware – ComputerLook out for:ProcessorMemoryHard driveDisplay (for desktops)Standard features eg optical drive/wirelessconnectivity
Setting up with ITPeripheralsLook out for:Multifunction printerExternal hard driveWebcamSpeakersKeyboard & mouseVoIP phones
Setting up with ITSoftwareLook out for:Office SoftwareCloud tools eg GoogleApps/Dropbox/MailChimp
IT SupportGeeks on WheelsThe Tech GuysGeek SquadTech Tuesday on Enterprise Nation
Creating a perfect workenvironment Find dedicated space [spareroom/attic/shed/external office]Invest in good desk and chairLight shades make room look biggerDouble up with chairs as storage/wardrobe asfiling cabinet!Have a vision …
Your vision boardBusiness goalsPersonal aimsPlaces you want to visit/people with whom youenjoy spending time/financial targetsLook at it morning, noon & night!
Start by bloggingFree & easy to get started. Try:Blogger www.blogger.comTypePad www.typepad.comWordPress www.wordpress.comAnd make money from your blog!
Your own websiteDIY option:Buy a domainBuy hostingInclude basic pages About us News Products & Services FAQs Contact us
Your own websiteTemplate site:Look for one whose design you likeE-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
Presence on other sitesBe known across the web by having presenceon mega-marketplaces/high traffic sites:eBay – for any kind of e-tailerElance – providers of business servicesAlibaba.com – international tradeAmazon Marketplace – consumer productsEtsy.com – handmade/craftiStockphoto.com – photography
Rise up search engine ranksDevelop skills in Search Engine Optimisation:Home page – quality & fresh contentOther sites – offer to write posts & commentLinks matter – link to and from high traffic &quality sitesTitle tagging – include words your customerswill be searching forUse Google AdWords Keyword tool to findwords people are searching for!
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.orgConsider Facebook ads which can be clearlytargeted
Social sharingMake it easy for site visitors to share yourcontent via social sharing:Delicious www.delicious.comDigg www.digg.comStumbleUpon www.stumbleupon.comTwitter www.twitter.comAddThis www.addthis.com
Polish often!Your website is your window to the world. Polishit often!Use good imagesUpload fresh contentCheck for broken linksRepeat!
Week sevenSimple sales roadmap and cold-callingmade easy
Sell, Sell, Sell!5 steps to making sales:Make a list (check it twice)Pitch up – make your pitch & make it personalFollow up – with a next email or callMeet up – if prospect shows interestMake some noise – tell everyone about yourfirst sale as you’re now in business!
Sales materialsProduce promotion flyers to take to events:Go for a clean and memorable designBe clear on the offerOutline benefits to the customer of buyingInclude a call to action ie if the person isinterested, what do they do next?
Sales callsSecrets to success:Warm up for the call by preparing. Have a clearcall list & objectivesFeel confident & think positiveMake the call whilst standing up & smilingDevelop a list of open questions allowing you toengageAgree action & follow up!
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/blxrUnGoogle Checkout checkout.google.comSage Pay www.sagepay.com
Make money from your site/blog10 ways to ‘monetise’ your website or blog:Display advertising – via a media rate cardGoogle AdSense – places ads on your siteTextLink Ads – paid-for click throughs from yoursiteSponsored conversations – get paid for posts!Affiliate schemes – earn from makingrecommendations to visitors eg Amazon affiliatescheme
Make money from your site/blogTry these too:Sponsored features – approach advertiserswith suggestion of sponsored e-news, eBook,podcast, report, webchat, poll or surveyExpert help – offer expertise viateleclasses/online webinarsDeals with suppliers – arrange revenue shareTurn a blog into a bookPlease donate!
The legal bit …When making sales online be aware of theDistance Selling Regulations:Offer clear informationCustomer has period of 7 days to cancelcontract with youOnly applies when selling to consumers asopposed to businesses
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.comRequest a link – if you’re being featured online
Write a releaseThis is what your release should contain:Attention grabbing headlineFirst line explains what/who/why/where ofheadlineBack up headline with facts & figuresInclude quotesInclude links to find out moreInclude contact detailsUse great imagery!
Take a pollThe media like facts/figures/survey findings.Take a poll using tools such as: SurveyMonkey.com Wufoo.com
Enter AwardsWin profile and prizes from entering!Shell LiveWIRE Grand Ideas AwardsThe Pitch 2011AXA Ambition AwardsSocial enterprise awardsNectar Small Business AwardsStartups AwardsEtc, etc, etc …
Host an eventInvite press & clients to come to you:Bootstrap budget – by partnering withvenue/drinks provider etcOffer a theme/hook – to attract people alongMake most of online tools – such asEventbrite.com and Meetup.comUse occasion of the event to write a pressrelease!
Join a group/clubThere are lots of options:Athena Club4NetworkingBusiness SceneEcademyJellyFirstFridayKeep in touch with StartUp Saturday pals!
Become an expertBecome known by becoming an expert in yourfield. Here’s how:Publish a bookPresent yourselfHost a webinarProduce a filmBroadcast a podcastDeliver trainingForm groups
Create the right first impressionPeople are hearing about you so they visit yoursite/meet you. Create a lasting impression with:Good logo and company imageryProfessional addressTelephone answering serviceQuality printed materialsFollowing the rules of effective face to facenetworking!
Week nine5 essential social media tools and how tomake the most of them
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 dayBe interesting – aim for 3 types of tweets;social chit-chat, sharing of useful info &answering questions to show knowledgeBe interested – join in the conversation.
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 highlytargetedAttract friends & fans and test out your ideasDownload free ‘Boost your Business onFacebook’ eBook at www.enterprisenation.com
LinkedInLinkedIn is the world’s largest professionalnetwork with 100 million plus members. Tips:Present a professional pictureBuild connectionsWrite a personal taglinePut your elevator pitch to workPoint out your skillsAsk & answer questionsMake & request recommendations
FlickrJoin Flickr.com and promote yourself visually.Upload photos & videos from:Events you host, speak at or attendProducts you makeHappy customersYour workspace/colleaguesPull the photos into your blog/social mediapages.
YouTubeYouTube is the world’s most popular online videocommunity. Use for business purposes:Create an accountStart a channelBegin broadcasting to the worldGive each of your videos and name and tag withkeywords to make it easier for people to findwhen searching online.
Measure resultsMeasure what’s working with these tools:Google AnalyticsAlexaClickyCrazyEggOpentrackerStatCounterIf showing upward curve, remember to updateyour media rate card!
Week tenHow to grow the business withoutoutgrowing the home
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
Outsource … Customer service & IT. Check out: Getsatisfaction Geeks on Wheels The TechGuys The Geek Squad Staples EasyTech
Outsource …Accounts. Ask for recommendations of localaccountants and/or check out: FreeAgent KashFlow Liquid QuickBooks Sage One
Steps to successful outsourcingTake these steps to achieve best results:Do the groundwork – spend time working ontask yourself so you have knowledgeBe clear on the brief – the clearer the brief, thebetter the resultsTake your time and take references – anoutsource partner is as good as an employeeLet go! – let someone else become responsiblefor results.
Form teamsMake most of project management tools to keepin touch & on top of deadlines. Check out: Basecamp Google Docs HuddleWork with anyone, anywhere with: GoToMeeting Powwownow Skype
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.
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.
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 postsExclusive offers – could be conditional on themreferring a friend?Guest appearances – invite guests on to yoursite/blog to keep interest high
Keep in touchKeep in touch with a regular e-newsletter. Tryout:Mailchimp www.mailchimp.comAWeber Communications www.aweber.comSign-Up To http://getstarted.sign-up.to
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 customershappyNew business - winning new workAdmin – keeping on top of the cash/the books!
Cash is kingKeep 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
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
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