Rex Lambert, Editor of The Listener, wrote in 1936, 'Television won't matter in your lifetime or mine.'

1. Don't be put off – go for it! • Rex Lambert, Editor of The Listener, wrote in 1936, 'Television won't matter in your lifetime or mine.' • John Langdon-Davies, fellow of the Royal Anthropological Institute opined in 1936, 'By 1960 work will be limited to three hours a day.' • Sir Richard Woolley was the British Astronomer-Royal who declared in 1956 that, 'Space travel is utter bilge.' • Don Rowe was the director of Decca Records who turned down the Beatles. He said to their promoter, Brian Epstein, 'We don't like your boys' sound. Groups of guitarists are on the way out.' • Frank Sinatra in 1957 stated, 'Rock and Roll is phony. It's sung, written and played by cretinous goons.' • Ken Olson, CEO of DEC said in 1977, 'There is no reason anyone would want a computer in their home.' • Bill Gates stated in 1981, '640k ought to be enough for anybody.'

2. Start up Issues .......And how to avoid them Peter Doggett – Vistage International

3. I have an idea.......... • Write and paint your dream • Find something you really believe in • Keep it simple • Surround yourself with honest and positive people • Be realistic about your time and cash • Review ReviewReview

4. So where should you start..? • Start with WHY • Then with WHAT • Then with HOW • Too many businesses fail because they start with what and how before considering why. What’s your why?

5. YOU ARE HERE end

6. TIME • The issues • Not enough time • Poor time planning/utilisation • The cures • Proper planning – be realistic • Don’t underestimate • Take breaks • Ask for help

7. You - your skills, passion and commitment • What are the issues? • Commitment • Time • Get bored/distracted • Discouraged • Scared • The cures • Who are you? • Are you the right person? • Why do you want to start a business? • Are they good reasons? • Personal SWOT

8. Confidence

9. SKILLS AND EXPERIENCE

11. The Idea • The issue • No ideas/limited ideas • Don’t know how to get started • The cure • What do you love doing that somebody might pay you for? • Who could you talk to who could help? • What is unique/needed/you can do better than others?

12. The Big Idea • How do you decide? • Something you like/are good at • An existing product – but yours is better • A new market or product/service • An existing market or service • Where’s your niche?

13. Create something that is unique … If you set up a company selling widgets like the bloke down the road and the only difference is that yours are cheaper, you’ll make a living, but that is all you’ll achieve. If you can be truly differentiated and unique, then you’ve really got something. Martyn Dawes, founder of Coffee Nation

14. The Support • The issue • Who can help me? • The cure? • Ask people you trust & who are positive – not too emotionally attached. • Beware of strangers bearing gifts • Network with purpose • Get a mentor and be very honest.

15. Partners • Key to your success or... • A major part of your failure • Chose carefully • Complimentary skills • Same passion • Same ethics • Do you trust them implicitly • Do the have similar ambitions? • Families are not always the best • Above all – create an agreement very early on in your growth

16. Cash £££ • The issue • I’m no good with money • I don’t understand • The cure • Keep it and systems simple • Watch the cash at all times especiallY • Bank • Breakeven • Key numbers that drive your sales • Be honest • Keep good but simple records

17. Where can I get financial help?What will I need? • Before doing anything – Business Plan – honest and realistic • Establish how much you can put in yourself • You’ll need • Setting up funds – e.g. Premises/equipment/IT etc • Working Capital – funding the gap between paying for materials and receiving money from your suppliers • Funding options (sole trader) Cost Security Risks/implications • Self £ Nil Overspending • Families & friends £ Nil Relationships • Partners £ Nil Will want a share • Banks – overdrafts £££ YES Withdrawal • Banks – long term loans ££ YES Limited • Foundations £ Nil Low • Some government agencies £ Some Low • Business Angels ££ Some Will want return • The more risk they take the more they’ll want you to contribute, provide security and a payback

18. IMPORTANT NOTE Small increase in sales price rapidly reduces break even Even small discounts increase the break even considerably BREAK EVEN

20. Plan PlanPlan • Keep it simple • Spread sheet • Review • Keep a score • Define what will drive sales • Work out your break even – how much do you need to sell to make a profit?

21. Marketing

22. Planning – the development process REVIEW = YES or No or modify COST OF STOPPING Review Review Review Review Business plan Prototypes Customer feedback Research Funding Finalise plans Marketing sales strategy Develop final product Systems Ideas Sketches Models Test real products with real people Review and change Marketing Customer feedback Measure Control

23. Pricing • Key to your success • Market research • Decide where you will focus sales • Don’t confuse the market • Care with discounts • Don’t fiddle your business plan by using un realistic prices which you cant achieve

24. Marketing • Who are you trying to reach? • Where are they? • What do the do now? • What do you want them to do? • What do they read, watch, listen to? • SOCIAL MEDIA?

25. BUT ACTIVE CUSTOMER MAILING RESPONSE 12.5% WITH PERSONAL FOLLOW UP CAN BE 40%

26. “What you do speaks so loudly that I do not hear what you say” Ralph Waldo Emerson

27. Selling • How? • Where? • Location • Marketplace • Internet • Who – you or....? • Costs?

28. Change is criticalto Success

29. Go forth and multiply! • Write and paint your dream • Find something you really believe in • Keep it simple • Surround yourself with honest and positive people • Be realistic about your time and cash • Review ReviewReview