Starting and running a business
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The document outlines essential steps for starting and running a business, presented by Chris Leadley and Rick Smith. It emphasizes the importance of having strong products and services, solid foundations and branding, and a customer base, along with actionable marketing strategies. The authors also encourage participants to brainstorm business ideas in a workshop-style discussion.
Starting and running a business
- 1. Starting and running your own business Hosted By Chris Leadley & Rick Smith – Forbes Burton
- 2. About us – Rick Smith Qualified engineer Worked in motorsport managing racing teams for 12 years Bankrupt in 2005 Has worked in insolvency ever since – helping individuals & business owners Currently mentors prospering companies that specialise in different industries Expert in personal & business development Business Coach & Entrepreneur
- 3. About us – Chris Leadley Studied Marketing & Media at University Worked in the marketing department for a large international company Made redundant from company buyout Worked for Rick in his motor repair shop Built 4 businesses from scratch with Rick Developed Marketing Strategy Skills Google and HubSpot certified Marketing Consultant
- 4. What we’ve done so far… Established companies in a variety of different industries including: Property, IT Services, Corporate & Personal Insolvency and Financial Services Worked with national and international companies Turned around and recovered a variety of Small Businesses
- 5. The 3 things you need: 1 – Products & Services 2 – Solid Foundations & Brand 3 – Build Customer Base
- 6. 1 - Products & Services
- 7. Your Products and Service Increase Value For Customers • What is it? • How will it help your customers • How else can you add value? Maximise Sales • Subscriptions • Repeat buying • Product upsells or ‘higher level’ Maximum Leverage • Create once use many • Sell to many at once
- 8. Low Price • Music downloads / Apps Mid Price • Phones/Tablets High Price • Laptops/PCs About Your Products
- 9. • Prompt • Reliable • Efficient Excellent Service • Answer Their Needs • Always Follow Up • Treat Them How You Want To Be Treated Customer Focused • Customer Feels Appreciated • Will Spread The Word & Refer • Will Buy From You Again! Adds Value To Product/Service Have Great Customer Service
- 10. 2 - Strong Foundations & Brand
- 11. Have a Solid Business Idea About You • Think about what motivates you in life – what do you enjoy doing • Realistic List of Goals • Do You Have What It Takes? Your Business Idea • Is it realistic and viable? • Can you explain your idea in one sentence? • How will people benefit from your idea? Your Business Goals • Short, Mid, Long Term e.g. • Be enough to pay overheads, Expand and grow, Exit strategy
- 12. Business Fundamentals The Legal • HMRC/Taxes • Business Type/Registration • Insurances The Financial • Accountant/Banking • KNOW YOUR FIGURES • Cash flow – Profit & Loss Staff & Systems • Trained • Customer Focused • Documented Processes
- 13. Strong Positioning • How do you want yourself and your business to appear to customers? • Will you be positioning at the bottom, middle or top of your market? • Have Clear Consistent Branding Your Branding & Positioning
- 14. 3 – Building Your Customer Base
- 15. SEO •Organically Build Ranking •Optimised Website •Best Results Start Local Social Media •Facebook/Twitter/LinkedIn/Others •Build Targeted Loyal Followers And Buyers •Real Time Customer Engagement and Feedback Pay Per Click •Google/Bing/Facebook - Trackable •Instant Traffic And Leads •Needs To Be Managed Properly or You’ll Lose Money Online Marketing
- 16. • Local Awareness Marketing • Needs To Be Direct Response • Track And Measure Performance Constantly Leaflets • Good Public Relations • Use As Educational/Info MarketingPress • Word Of Mouth Referrals • Strong Business Connections • Know Like And Trust Networking Offline Marketing
- 17. Consistency • Set & Forget • Use Same Branding And Message Across Marketing • 17 Times Seen Before Customer Buys Outsourcing • Frees Up Your Time • Cheaper/Flexible • Expertise & Professional Software • Track All Marketing Activities • Automates Emails Depending On Customer Actions • Plan In Advance For Best Results Automate Your Marketing
- 18. Your Turn… Split into groups of 5 Think of a Company Name Think of a Product you can sell Think of the Positioning (who would buy it and why) What would the Price be (low, medium or high)? How would you Promote it? Best group of the day will win Amazon vouchers for each member!