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Starting and running a small business Terry Freedman.

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Presentation on theme: "Starting and running a small business Terry Freedman."— Presentation transcript:

1 Starting and running a small business Terry Freedman

2 Examples of what I do

3 Target market & competitors Schools Education magazines Local Authorities Other organisations Other consultants Schools Larger organisations Other writers ? How best to compete? Think USP

4 My career history Teacher Head of Dep Advisor QCA Head of E-Ed Consultant Organisations Committees Forums Articles Books What was this achieving?

5 Why? Why might anyone wish to start their own business? Long hours Desire for healthier lifestyle Consultant

6 What’s in a name? Teacher Head of Dep Advisor QCA Head of E-Ed Consultant What would be a good name for my company? Organisations Committees Forums Articles Books See and search “name”http://sethgodin.typepad.com/

7 Running a successful business What can you learn from this about... Marketing Reputation Contact-ability How would you respond ?

8 Running a successful business You don’t get a second chance to make a first impression. Know your stuff and keep skills & knowledge up-to-date Be honourable (=honest, impartial, trustworthy) Under-promise & over-deliver: give value- added

9 Running a successful business Keep client informed Keep focused: outsource non-core stuff eg invoicing; web hosting Good admin Good marketing

10 High points and low points Repeat business (“Well, you deliver.”) WoM referrals Being approached Work is like London buses Not earning money when unable to work Sometimes battling to get paid

11 Promoting the business Blog – updated every day Article-writing Forum discussions Twitter Getting involved, eg events Linked-in Facebook Half the money I spend on advertising is wasted; the trouble is I don't know which half. John Wanamaker From what you've seen and heard so far, how do you think I promote my business? 80% of success is showing up Woody Allen There is only one thing in the world worse than being talked about, and that is not being talked about. Oscar Wilde

12 Raising the finance Borrowed from self Work lined up Cut-off date Bear in mind absence of “running costs” Also: search for “finance crowdsourcing”

13 What I’d do differently Not had brochures printed Always work to a contract (Think (don’t say!): “Your lack of planning is not my emergency.”) Outsourced things sooner

14 Being a successful entrepreneur Be prepared to take risks Never compromise your reputation Don’t try to do everything But whatever you do do, do well!

15 Advice on starting up Identify a niche market or USP (“personal touch”) And start now! Be the “go to” person. Set limits (time, money or both)

16 Advice on starting up Be Ltd Look into insurance, eg PID Be VAT registered Join appropriate organisations, eg Federation of Small Businesses and specific trade organisationshttp://www.fsb.org.uk/

17 Thank you


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