The Growing Your Own Business Show

Hello readers,

My post today will be for those of you who couldn’t get to the show and also for you if you are building a business. I sat in on some great informational seminars and hope that I can do them justice when I share the notes with you! If you read through what I’ve written and it doesn’t make sense, email me cemanthe@thesmallbusinessangel.com or feel free to phone me +44 (0)7886 593 076 and I can explain further. I also met with a few business owners/companies that I would like to introduce you to and perhaps you can make use of their services, see below the notes section for these…

Notes

What it takes to be a successful Entrepreneur – Oliver Tress, founder Oliver Bonas

Plan – be extraordinary, be clear, be scaleable
SWOT – of your business idea, of your market, of yourself
Implementation – an action plan with: desired outcomes, resources and deadlines
Be organised, be dispensible and be flexible

As the owner of your company set the tone for your employees and the company culture, see the bigger picture and communicate!

Maintaining and growing cash flow, sales and profiltability – Geoff Matthews, MD Matthews Business Associates

Expenses – raw materials, finished goods, transport, facilites, debtors, wages, interest, rent and rates, assets

Financing a business – 
New business: equity, loans, asset finance, overdraft, factoring 
Established: sales, invoices, cash

Profit does not equal cash!!! a business needs both to sustain

Challenges:
– running out of cash: chase what you’re owed, dont pay til you need to, speak to the HRMC
– running out of customers: look after your current clients, know what makes you different, who is your target market, think about your pricing strategy, pricing policy, payment terms and loyalty.

How is or will your business be doing financially… in 3 months, 6 months, 1 year, 3-5 years from now? Plan, forecast and review!

Geoff was kind enough to send his powerpoint presentation to me, and if you’d like a copy, let me know.

Leveraging social networking sites to generate business – Mike Segall, MD The Business Resources Group

We were brought up to not talk to strangers.. but that’s what networking is and why we could be afraid of it!
47% of your business is gained through networking, 43% through cold calling

People do business with those they know, like, trust and respect

How to network effectively?
1. who is buying your product or service
2. where do they network
3. investigate before time who will be there and set a meeting in advance
4. phone the organiser and get recommended contacts or meetings

When going to a networking event:
– set your intention
– follow through your intention
– follow up

know what your networking strategy is

see social networking sites as a marketing database

your profile: professional photo, what you do, case study, visibility and credibility, blog to demonstrate your knowledge/expertise
benefits of social networks: credibility and visibility, your knowledge and expertise, market, promote and sell, a marketing database, market reserach polls, low cost route to your market

Funding your business growth – Emmett Kilduff, CEO Cmypitch.com

When approaching potential investors, you should:
– know your usp
– be in a high growth market
– be planning
– have traction
– have an exit strategy
– have a strong team
– be passionate

Marketing on a shoestring – Carl Pihl, Founder Drinkyz
Adapt, be flexible, innovate, have persistence/perseverence

Strategy
– marketing is: the story you tell yourself, your clients and what they tell to others.. how people translate that story is how it works for them
– social proof: an idea people talk about and want to be a part of, viral marketing, social compliance
– to much choice is bad: keep it simple! one main product that pulls the market
– target your clients needs: what do they want? listen to what they want and provide the solution
– create an experience for your clients

That’s all I could get! If you have any questions or want to chat about what I’ve written, contact me!

Recommended providers

Commercial Cleaning and Property Maintenance
Terry MacDonald, Director: www.londonandessex.com
info@londonandessex.com

I met with Terry while sitting waiting for one of the seminars and would highly recommend him and his company

Other businesses I found at the show that might interest you:

http://www.matthewsba.co.uk/ – accountants and business help

http://www.5mins.co.uk – online business directory

http://www.cre8broadband.tv – video and dvd production

http://www.mskglobal.com – support services

http://www.cmypitch.com – online services for businesses

See you on Wednesday!

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Filed under Business Shows, Management, Marketing, Social Networking for Business, Strategy

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