London Fashion Week has just finished for another year and is more international than ever, with over 50% of the designers born outside of the UK. The week is a great opportunity to show off their collections to global retailers, as well as getting coverage in the mainstream media and fashion press. In addition to helping new designers with their start-up businesses the show organisers offer British Fashion Council's programmewith a range of business advice and seminars.
The fashion industry in the UK currently contributes a staggering ÂŁ66 billion to our economy. With London Fashion Week adding ÂŁ30 million to London every year.
Perhaps not surprisingly fashion is one of the most popular topics to research within the Business & IP Centre. And we have a great deal of valuable information and advice available. Have a look at our Fashion Industry Guideto get a flavour.
For example our Mintel report UK Design Fashion 2017 shows that men spend more on designer clothes than women, because although men shop less, they buy higher value brands. Also 56% of men agreed that wearing designer fashion makes them feel more confident, compared to 49% of women.
The report says that casual clothing and footwear are now the products that drive the designer market. This is a result of a move to less formal wear than in the past for visits to restaurants and trips to the theatre.
Young people between the ages of 16 and 24 years dominate expenditure in every category of designer fashion, from underwear to shoes. This is due to the importance of social media, where celebrities can influence young people to emulate their lifestyles. Just look at how celebrities crowd the front rows of the top fashion shows.
The IBIS World retail clothing report also covers the rising importance of social media and how it is expected to boost demand for fashion. The new breed of social media celebrities have a significant influence on their followers.
Instagram has become the key social media platform for fashion. âWith more than 200 million on Instagram connected to fashion accounts all over the world, Instagram has become a global destination for people to experience this stylish industry unlike anywhere else.â
As well as market research and related fashion information in the Centre, we also run regular workshops and offer one to one advice clinics via our partner Fashion Angel.
Donât forget, we are here to help realise your fashion dream!
Seema Rampersad and guest blogger Polly James
Posted by Innovation and Enterprise Team at 1:03 PM
PET-Xiâs Managing Director Fleur Sexton, British Chambers of Commerce Business Woman of the Year 2018
Ahead of next weekâs annual British Chambers of Commerce conference on International Womenâs Day, Thursday 8 March, we welcome their newly-crowned Business Woman of the Year, Fleur Sexton, Managing Director of PET-Xi Training to share her six top tips for aspiring business owners and leaders.
1. Build your network
Networking is about building long-term relationships and a good reputation over time. Itâs about meeting business leaders with whom you have some synergy, getting to know people who you can assist, and who can potentially help you in return.
Look up your old contacts and give them a call. If you are setting up a new business a personal referral from a former colleague or client to a new customer can do much to help fast track your business.
There is also truth in the phrase âitâs lonely at the topâ when tough business decisions need to be made, decisions which arenât appropriate to discuss with staff. Surround yourself with other business leaders who can provide you with the support and advice you require as a problem shared is a problem halved. Always be prepared to return the favour.
2. Donât be surprised when things go wrong
Donât be surprised when things go wrong, it is part of the journey. Be resilient. If you fall down, get up, find a solution rather than wallow in despair. Businesses are not sanitized and both good and bad things will happen.
3. Empower yourself
Be resilient and be prepared to re-invent yourself. What worked today wonât necessarily work tomorrow. Time moves on, trends, policies and issues change, make sure you have the solution to meet the current challenges facing your clients.
4. Champion women in business
Real queens fix each otherâs crowns. Donât lock horns with your fellow business women; create alliances to help each other be stronger together.
Support your female staff and accommodate the needs of working mums. One size does not fit all so reinvent the rules if need be. 20% of our staff at PET-Xi Training are working mums. All of them have valuable skills to bring to the mix so we make a concerted effort to try and make their life easier by providing free childcare on a daily basis. This has done much to strengthen camaraderie and loyalty.
5. Make rules to fit the people
Make rules to fit the people rather than find people to fit the rules. If you make rules to fit your staff and ensure you have a good work life balance it will be significantly easier to create a happy and productive workforce. Stressed staff working long hours typically donât deliver long term. According to a report from Warwick University happy staff are 12% more productive.
6. Invest in training
Most employees have some weaknesses in terms of their workplace skills. A well thought out training programme will enable them and you to develop and strengthen those skills helping employees to feel more valued, confident and happy.
And please remember the âreturn to workâ mums; those who have had a career break to look after their children. Everyone has something to give but some just need a little help to sharpen up their skills. Train them and you can create close allies â and remember happy employees make happy clients!
Established in 1995, PET-Xi Training is a nationally renowned education training provider, working with hundreds of businesses and schools across the UK.
Fleur Sexton will be one of the panellists for the Diversity in Business discussion at next weekâs conference for you to hear more advice from her and other business leaders. You could put top tip #1 into action straight away by building your network among all the advisors and attendees whoâll be there. The British Chambers of Commerce are offering a whopping ÂŁ230 saving on tickets â contact Rose Averis: firstname.lastname@example.org to get signed up.
The British Libraryâs Business & IP Centre has been a partner of the British Chambers of Commerce for over 12 years and we have long worked together to help small businesses access the support and advice they need. Giving women entrepreneurs the networks, role models, skills and confidence they need is equally important to us and our Women Mean Business in the evening of the 8 March with Hilary Devey, Dessi Bell of fitness fashion brand Zaggora, and Precious Online founder Foluke Akinlose, will be webcast for free online so you catch it after the conference!
Posted by Innovation and Enterprise Team at 4:57 PM
Contemporary marketing talk is all about marketing automation, content and sales funnels. Thereâs a significant amount of value to be gained from streamlining your marketing and sales processes â but thereâs one thing all these marketing tactics and strategies are aiming for: to get you in front of your potential customer/partner/lead.
Marketing is about relationships, and however fabulous your website and digital marketing are, youâre ultimately aiming to have a personal conversation with the right person to buy your product or service or build a partnership.
And that happens in person.
In-person marketing is the future (as well as the past). As people increasingly hide behind their multiple work communication channels â email, slack, WhatsApp, Twitter, Instagram â it seems like itâs hard enough to get someone on the phone, let alone meet in person.
And thatâs why events are the heart and soul of building an effective sales and marketing strategy.
Youâre either at someone elseâs event â as a speaker, sponsor, exhibitor or just plain participant â and if youâve selected the right event theyâve brought your market to you. Or you host your own events â which needs careful and targeted marketing â and position yourself in the middle of your market sector and the business potentially comes to you.
We Built This City is a London-based business that specialises in selling unique souvenirs that represent the famous city. Their mission is to revolutionise souvenirs by giving London's artists and designers a platform to showcase their talents and provide customers with creative and long-lasting souvenirs. Having grown at an incredible rate at the very beginning, We Built This City quickly made its mark on the souvenir market but founder Alice Mayor was still ambitious and wanted more. With the help of Innovating for Growth, she was able to achieve her scale-up wishes and went from a pop-up to having a permanent home on Carnaby Street in London's trendy West-End. We caught up with Alice to talk a little more about her journey from idea to super success and how the Innovating for Growth programme helped with this.
How did the idea for a new kind of souvenir shop in Londonâs famous Carnaby Street come about?
In 2014, London was still basking in the glory of the Olympics and had just become the most visited city on the planet with the annual tourist footfall figure at over 16 million. With so many international visitors heading to the capital for creative and cultural experiences, my lightbulb moment was riding past one of the many souvenir stores in London on the bus and thinking âsurely we can do better than that!â
My overriding priority in bringing to life the concept of âRevolutionising London Souvenirsâ was to find the right location for the store. I really wanted to avoid a scenario where we had the very best artists & designers to represent but didnât have the footfall to prove the operation a success.
As such, I was determined We Built This City should be established in the West End. I walked the streets on the weekends to try and identify the best location but each time got more fearful about the barriers we were going to face with rents and rates. At the end of what seemed like a very long 4 months, I finally tracked down a landlord on Carnaby Street.
I created a detailed pitch outlining my vision for the product, interiors, and marketing campaign. Within a matter of days, they offered a 2 floor - 3000 sq ft store on Carnaby Street with just one caveatâŚ we had 3 weeks to bring it all together and would need to launch for Christmas!
What challenges has the business faced along the way?
The main challenge for us at the start was being a temporary pop-up shop and having to move stores over 6 times in 18 months. We were always moving to a new store on Carnaby, so location wasnât the issue, it was just the sheer labour involved in moving shops and setting up processes all over again. Luckily we have an amazing team who stuck with us no matter how many times we told them we were on the move!
More general challenges are that at any one time we can be working with 250+ London artists, designers and makers - with so many partners and suppliers on the books the sheer volume of admin involved can be a daunting daily mountain to climb! Itâs worth it though, to see so many artists represented and supported in store.
Lastly, our core mission is always to support Londonâs creative community to drive sales and sustainable careers in the city. Running the business from a prime retail unit in the West End isnât always an ideal marriage as it can be difficult to achieve margins which are complementary to both scenarios. We wouldnât change the exposure Carnaby offers our artists for the world though!
What has been the businessâs biggest achievement so far?
Our biggest achievement to date has undoubtedly been securing a permanent lease on Carnaby Street. Weâre very proud to have made the transition from pop-up to a permanent retailer in one of the worldâs most iconic shopping destinations in such a short window. A permanent unit for us has freed up so much resource and time to focus on growing the business. As a result, weâve been able to grow the consultancy arm out to helping other London landmarks open including a major curation project for Battersea Power Stationâs new Design Store.
Picking up awards for the shop along the way has been an unexpected and exhilarating experience too - when we were awarded âBest Shop in Sohoâ by Time Out readers in our first year of trading, we spent the next week pinching ourselves!
What advice would you give to any small business owners thinking of going into retail and even opening a shop?
Having a unique point of difference is critical for a new retail brand or business - especially if youâre joining a competitive market (fashion, food etc.) You need to work out the one thing thatâll set you apart and work out how you can tell that to your customer at every part of the journey - and even before when selling the concept to a landlord, investor etc.
I would also highly recommend creating a pitch presentation to set out your vision and to share it with anyone who can help you make it happen. Itâs easy to become scared of people stealing your idea, but I found it incredibly helpful to get early-stage feedback and access to new contacts - many of whom ended up becoming our artists, advisors, partners and even our shop team!
Lastly, really interrogate whether you need to open a physical bricks and mortar store at all and what you want to learn from even a temporary pop up shop. Itâs important to establish your objectives early on and stick to them. My parting advice is to never romanticise the idea of a shop as itâs an unbelievable amount of work, money, and energy - and if youâre open 7 days a week the sheer volume of operations can easily leave you with little time to nurture the creative side of the business.
What are the challenges of growing a business and how has the Innovating for Growth programme helped?
When I applied for the Innovating for Growth course, I was really lacking the headspace to work âonâ the business - not just âinâ it. The programme has been indispensable in giving me the opportunity to stand back from the day to day and take time to start strategising from afar.
An invaluable learning from joining the programme has been the opportunity to look at all factors that contribute to the running of a successful business - not just those that are in your existing skill set or comfort zone! Deep diving into these elements with the guidance of the coaches, guides and guest lecturers on the programme has been invaluable to analysing the businessâs strengths and weaknesses in equal measure.
The real take away from the programme for me though has been the opportunity to meet entrepreneurs at the same stage - going through the same issues, problems and being able to share advice. It can get lonely and especially tough when youâre scaling - mentors are great but itâs meeting and sharing with those sat next to you on the same rollercoaster that gives you that belief to keep building!
* Innovating for Growth is a free three-month programme to help you turn your growth idea into a reality. Find out more here.
This programme is fully-funded by the European Regional Development Fund and the British Library.
Posted by Innovation and Enterprise Team at 6:24 PM
Jennifer Earle, with her enticingly named Chocolate Ecstasy Tours, founded her business back in 2005 by doing the things she loved best; learning, discovering London, meeting new people and tasting delicious food, especially chocolate! We caught up with Jennifer, a recent graduate of the Innovating for Growth programme, to find out how her business started and to learn about an exciting new development that is underway.
What was your background before starting Chocolate Ecstasy Tours?
I ran the Chocolate Ecstasy tours business alongside full-time work, including a role as a Food Buyer at Marks & Spencer and a Food Developer at McDonaldâs. I was already writing about food part-time and, from 2006 I started to get invited to speak on the radio and TV, as well as judge food awards and speak at events.
I finally began working fulltime on Chocolate Ecstasy Tours in 2013 and added more tours, more dates and more workshops and events â including teaching chocolate workshops in schools and running food innovation days for companies. The tours gradually became premium as the experience and knowledge of my guiding team increased and we reduced the maximum number of guests on a tour to eight.
This commitment to quality was always going to restrict how large I could grow the tours business. I really wanted to make something that could reach more people and promote more of the amazing food businesses we have in London, but in a way that still hit the core values of quality, discovery, effortlessness and fun. Iâd been mulling over the options for years, but the idea for Taste Tripper didnât all click into place until one evening in 2015. I shared the idea with my husband who was so enthusiastic about it he wanted to get involved.
What makes Taste Tripper unique?
Taste Tripper is the worldâs first self-guided tasting tour business. Our Explorer Packs are a really effortless and flexible way to discover part of Londonâs amazing food scene. The partner locations in the Taste Tripper Explorer Packs all offer something delicious for you, just for turning up! And, like a VIP, you get a special deal on any extra purchases, too.
What we hope will keep us unique is our commitment to quality. We will only ever send people to places that we believe are fabulous.
What challenges has the business faced along the way?
Being a new concept meant that we had to convince businesses to work with us. In principle this has been easy but, as we mostly work with small businesses that have a lot on their plate, it can take time to get them to send us the information we need and approve things.
We had some dire printing errors which were quite expensive. I donât think we could have done anything differently to have avoided them. We also had our trademark challenged by a big company which meant thousands on legal fees before weâd even made a hundred sales. There were tough decisions to make but we are proud that we stood our ground and won!
Through the British Library Innovating for Growth programme we had fantastic, honest feedback and we called our first customers for more of the same. Itâs been so enlightening and inspiring and made us go back to the drawing board on quite a few significant things. Itâs been quite frustrating that it has taken us some months to get the changes ready, but they are finally live!
What advice would you give to any small business owners thinking of developing a new product?
The most valuable thing for us was contacting customers and asking them to speak with us and give us feedback. The sooner you can do this, the better. Trying to sell as soon as possible will show you if thereâs a market. But then you need to ask those people who parted with money if they are happy and how they could be happier.
We probably would have benefited from discussing our ideas with more people and listening harder for their suggestions. But people will tell you different things so try to focus only on the things that keep being mentioned. Itâs important to have the courage of your convictions over the smaller stuff, especially if you think you know your market well.
I would also advise anyone that good products donât happen quickly. Whatever time span you had planned for launch or growth: double it. And maybe double it again.
You grew the business with the help of our Innovating for Growth programme. What specifically did the programme help you achieve?
The honest feedback from experienced people was invaluable. It forced us to really look at what was working, what wasnât and what was important. We got clearer on what we wanted the business to stand for, how we could communicate that and what changes we needed to make. The technical advice for ensuring we have a watertight business was also brilliant and so useful.
During the three months we decided to change the redemption from tear-off paper strips on the cards to online redemption, whilst still keeping the attractive giftable Explorer Pack (it all seems so obvious now!) and we also decided to add a map to the homepage so customers could create their own London Explorer Pack. Weâll eventually offer neighbourhood Explorer Packs, too. It really feels like we have a much more solid business with real potential for growth. Iâm so excited!
Are you an ambitious business owner looking to scale up, like Jennifer? If so, Innovating for Growthis a free three-month programme to help you turn your growth idea into a reality. Find out more and apply now.
Posted by Innovation and Enterprise Team at 10:00 AM
The Centre was officially launched yesterday on the 11th October 2017 and is now the eleventh city in this network across the UK â with free intellectual property and business information, training workshops and one-to-one advice available to local entrepreneurs; the launch of this new Business & IP Centre has been extremely well received.
At the launch event, start-ups from across Norwich heard from a special panel of the regionâs successful food industry founders led by award-winning chef and founder of Charlie's Norfolk Food Heroes, Charlie Hodson. Questions were put to chef and restaurateur at Benedicts, Richard Bainbridge, Candi Robertson, founder of Candiâs Chutney, and Mike Deal, founder of Wildcraft Brewery, and were left inspired to develop their own enterprises.
Roly Keating, Chief Executive of the British Library said: âThe success of the Business & IP Centre model is evidence of the strong connection between libraries and business, and Iâm thrilled to see this link reinforced again with the opening of a new Centre for entrepreneurs and small businesses in Norwich.
âOur vision is to create 20 such Business & IP Centres by the end of the decade, and I look forward to working with our city library partners to achieve this goal and to spearhead business growth and innovation in cities across the UK.â
Each Business & IP Centre provides an inspirational space for entrepreneurs to come together to network, attend events and access a wealth of resources including business databases such as Mintel market research reports, plus consumer data, trendspotting for the UK and worldwide as well as information on patents, trademarks, designs and copyright.
The Business & IP Centre at the British Library opened in London in 2006. Since then it has helped more than 700,000 entrepreneurs and helped create an average of 550 businesses and 1,200 jobs every year.
Starting and growing a business can be exciting and very rewarding, and at the British Libraryâs Business & IP Centre we can help you to achieve all of your entrepreneurial goals. However, there are factors that arenât often spoken about when we talk about the life of a business owner. Entrepreneurs typically dedicate long hours and lots of energy and effort to building their company and there is a risk that this can lead to burn-out unless care is taken. As today is World Mental Health Day, we would like to take the opportunity to challenge the assumptions about mental health and equip ourselves with the necessary tools to maintain balance.
Tom Costley, Operations Director for Mind in Camden, explains why he thinks entrepreneurs are sometimes at risk of developing poor mental health and suggests some practical tips and strategies that entrepreneurs can employ to protect their mental wellbeing and maintain a work-life balance.
Why might there be a risk of an entrepreneur experiencing issues with their mental health?
Entrepreneurs typically have a high sense of purpose, meaning and drive in their lives, and this is actually great for positive mental health. However, there can be a downside to this if the drive to succeed comes at the detriment of other things which help keep us in balance. For example, if building the business becomes the only focus of the entrepreneurâs world and they pour all their energies into it, then they risk neglecting some other important factors which help sustain their good mental health, such as our personal relationships or downtime for relaxation. Often entrepreneurs can feel so driven to succeed that they imagine they are immune to the consequences of neglecting their wellbeing and ignore tell-tale signs and symptoms. Lack of sleep, for example, can lead us to feel irritable and frustrated and affect our decision making. Business owners may feel we can ride through this and carry on working, but ultimately it will negatively impact on how effective they are in their business and on their chances of success. For example, they might unintentionally be snappy with an important client, forget an important deadline or experience âbrain fogâ and lack of clarity when making an important decision with long-term implications.
Entrepreneurs can also be emotionally high-risk takers, investing 100% of themselves in their business to the extent it becomes an extension of their personal identity and it is difficult to see where the business ends and the person begins. We see this a lot currently as the trend for social media and video content creates an expectation for business owners to be more visible than ever before, which creates additional pressure. This may not be a problem when the business is working well and experiencing success, but should the business then take a dip that entrepreneur can find that their self-esteem is so closely entwined with their work that they experience a disproportionate reaction and fall into a âslumpâ. This is why preserving a sense of self which is separate from the business is vitally important in enabling us to ride through challenges and maintain perspective.
For an entrepreneur, having their identity very closely connected to their business can also compromise their emotional honesty. This may be particularly true for people who are at the early stage of building a business when the appearance of success and confidence is everything and we are taught to âfake it until we make itâ. Of course, there is an element of this that may be necessary as part of a business strategy. However, to safeguard against becoming disconnected from reality it is important to have someone who you can be more revealing with, and share what is really going on: your fears and anxiety as well as your hopes and ambitions. This might be a great friend or partner, or perhaps even a mentor figure or a counsellor. Whoever it is, make sure you allow time in your busy schedule to connect with them.
What are the warning signs of poor mental health that entrepreneurs should look out for?
Itâs important to remember that mental health is personal: itâs about understanding ourselves. We all have different warning signs which may indicate to us that we are heading out of balance. One useful way to approach this is to be aware of how we are when we are feeling âokâ and then to consciously monitor ourselves if we feel some of these things are noticeably worse. Typical warning signs that things are tipping in the wrong direction might include:
Altered sleep pattern or lack of sleep
Feelings of confusion or compromised ability to make decisions
Levels of sociability
Sense of connection to those close to us
Ability to see the âbigger pictureâ and maintain perspective
Itâs important to take account of our individuality when monitoring our mental health; we need to compare ourselves to what is healthy and normal for us rather than for other people. For example, whilst social contact is important for good mental health, we all thrive off different levels and types of social engagement depending on our personalities.
Do you have any tops hints and tips that you could recommend to help entrepreneurs/business owners look after their mental health more effectively?
Again this is personal, so knowing yourself is essential. Identify what keeps you resourced away from your business and ensure you build in time to do this with full presence and commitment. Preserving time to switch off and be with the important people in your life, or simply spending time doing something which gives you joy and helps you connect with life beyond work, really can make all the difference. This could be a sport, gardening, walking, reading or just being with friends and family. Because they donât keep set working hours, business owners can have a tendency to feel tremendously guilty about taking time out for themselves. In order to commit to doing this, you may need to keep reminding yourself of the benefits: switching off from your business every once in a while will increase your creativity, give you renewed energy and ensure you are keeping fully charged in order to make your business a success.
Posted by Innovation and Enterprise Team at 10:12 PM
The day was filled with inspiring events and engaging workshops from speakers who share their well-earned wisdom with a crowd of budding entrepreneurs and business owners.
This year we held 18 different events, each filled with information and advice on how to turn an idea into a business, covering every topic you might need, from how to write that all-important business plan, to tips for managing your cash flow.
Hopefully, you managed to pack in as many of the talks as possible and just in case youâre feeling a little overwhelmed by all the information you absorbed over such a small amount of time. Weâve got just the thing to help:
Here are 10 things we learned from the day which we believe are vital takeaways for anyone looking to make a start in business.
Anything is possible
Julie Deane OBE founded her company The Cambridge Satchel Company with just ÂŁ600. Itâs all she had spare to get started and sheâd made a promise to her daughter that she wouldnât have to go back to her old school that September. It was already June. Julie had plenty of hints and tips for the audience and although she has a firm belief that âyour life is more than what you wear or the bag you carry,â she has created her brand based on a passion for British manufacturing and a product that will last customers a long time, making it a cost-effective purchase.
Julieâs talk on how she started her business from her kitchen table was not only moving but demonstrates that almost anything is possible when youâre as determined as she is.
Test your ideas first
You donât have to immediately pack up your 9-5 and risk all your savings when you have an idea for starting your own business. In fact, many of the speakers encouraged staying comfortable while you plan and test your ideas first. Nigel Spencer, Research & Business Development Manager at The British Library, gave an insightful workshop, based on a regular offering at the Business & IP Centre, on where to take your business idea next and how to plan for its future.
Nigel recommended some of the fantastic tools available for free from the Business & IP Centre such as a Business Model Canvas that you can download, and then tailor to your business model revealing any gaps you might not have addressed yet.
Know your worth
Anis Qizilbashâs entire talk focused in on this important reminder for start-ups and people who are venturing out into the world of business. She encourages people to employ her strategies and challenge their fears around charging the right price for their services or product. âDonât think about the money youâre going to make, think about the impact for the customerâŚ make it about the difference you can make.â Believing that you are charging a fair price and remaining confident in the face of a difficult sales pitch is no mean feat â but this talk left everyone feeling empowered and ready to charge their worth.
Find people who believe in you
âIf Iâd have told my mum that I was going to Mars on a rocket ship she would have replied âoh, how interesting, when?â said Julie Deane. She used this as a great example of finding people who will truly support you as you make your idea into a business reality.
Neil Daly of Skin Analytics echoed this in his panel discussion on Profit with Purpose. When he asked his wife if he should work a normal 9-5 that brought in enough money but made him miserable, or follow his passion to diagnose skin cancer earlier, but run the risk of money being tight, she reminded him that âyouâre a miserable bugger when youâre unhappy at work, so go for your passion.â
A common theme across the day was a need for self-confidence and belief in your ideas, but equally important is finding the people you can rely on when it isnât going perfectly. Having someone who thinks your ideas are worth fighting for is crucial.
See your competitors as free research
Keye Oduneye from Google Digital Garage kicked off the day with his talk on How to Build a Social Media Strategy with an interesting take on how to view your competition. âsee them as free research. Theyâre either doing something you should or doing something you shouldnât. Learn from them and be inspired by them.â
When thereâs someone out there doing something similar to you, or trying to reach a demographic that youâd like to tap into, keep a close eye on what they get up to online. Use it to decide what you might do with your next campaign on social media and keep the creative juices flowing.
Social media is a powerful tool
As demonstrated by the live Twitter feed that had #BIPCStartUpDay trending by the afternoon of the event â social media is a force to be reckoned with. Keye Oduneyeâs talk highlighted just how many customers use it to reach brands for swift responses to customer service queries, get the latest news from their favourite companies, and ultimately decide where they might spend their money.
Keye gave a thorough breakdown on the sort of things you should be sharing with potential customers and how important it is to see social media as a powerful influence to build a brand and reflect the kind of business you want to be seen as from day one.
Networking is key
Life coach, author, and speaker Rasheed Ogunlaru led an interactive workshop on âHow to network for business successâ that was full of useful takeaways for everyone. âIf I donât meet, I donât eatâ was one such important reminder â although networking might seem nerve-wracking, meeting people and promoting your business is key to earning money from your product or service.
It certainly helped to be surrounded by people that have already started or are thinking about starting their own business all day, and plenty of business cards were exchanged throughout the event, but networking is more than just a brief connection we learned. Even if you connect with someone who might not seem like they can help you with your business, they might know someone who can. Rasheed urges people to âcollect good peopleâ that you can share values and ideas with to help grow your business and make it a success.
You wonât always get it right
Setbacks are part of life and business. We can plan ahead, but sometimes we make mistakes and thatâs natural. âHow to get your business in the media on a budgetâ was less of a how-to workshop than it was a lesson in how to face the potential pitfalls when youâre promoting your company. Jessica Huie runs an award-winning PR company and knows a thing or two about how to get your business into the media spotlight and create a positive buzz around what you do, but she also reminded us that itâs ok for it to not always go your way. âyou are not for everyone and everyone is not for youâ was the mantra, and setbacks ultimately teach us something in the long run. You will attract the right audience if you are authentic, do your research, and always seek to understand your customer better.
Focus on pleasing your customer and youâll always make money
There is a lot to consider when youâre starting out in business or working out how to turn a great idea into one. Budgets, planning, PR, social media campaigns, and networking are just a few of the plates youâll be juggling â and sometimes all at once. The topic of Tim Campbell MBEâs talk could not have been more appropriate for the day as he shared his thoughts on âStaying Alive â How to get motivated when growing your start-upâ. How exactly do you stay motivated and keep cash flow steady with everything else going on?
His advice was simple â focus on the customer. Donât chase the materialistic aspects of the business as much as you concentrate on delivering what your customer expects and more. By focusing on providing the best service and product, always innovating and âdelivering with qualityâ Tim promises you will always make money.
The Business & IP Centre is a fantastic resource
Julie Deane not only inspired with her story of setting up her business with minimal funds, she also shared some interesting stats. She revealed that businesses that engage with the Business & IP Centre are 4 times more likely to succeed than the ones that donât, and as we learned from Nigel Spencer, there is a whole host of tools at your disposal to help plan and test your business. From free or low-cost workshops to online guides that cover numerous topics, itâs in your (and your businesses) best interest to check them out.
Days like Start-up Day are just a small taste of what you can achieve with the British Libraryâs Business & IP Centre. So, if you have a great idea and want to set up your own business, donât hesitate to get in touch with a member of the team. You can also check out our list of upcoming workshops and events to get even more great advice and support for your great business idea.
Over 20 master class talks are set to take place at Start-up Day tomorrow, Thursday 21 September, with over a thousand aspiring entrepreneurs joining us at the British Library to take the next steps to launching a business. If you wonât be able to join us, some of the sessions will be webcast live for you to watch from home.
Here are the times to look out for:
9.30 â 10.15 Google Digital Garage: How to build a social media strategy
Learn from Google how to optimise your online presence using the power of social media.
Youâll get a run-down of the best social media platforms to use in 2017, plus your trainer will explain how to create a social media strategy that delivers the right goals for your business. Weâll cover the importance of defining a set of marketing guidelines too, so you can always stay on brand and on message. You'll learn about:
Making your business's social media presence known
Developing rich, engaging content for social media
10.45 â 11.30 UK2: How to get your business online
In this workshop, Sara Rego, Marketing Director at leading web hosting and internet services company UK2 Group, will take you through some practical tips for maximising your online presence and raising the profile of our businesses with a great site. He will share common pitfalls to avoid and also explain how making some small changes to your businessâs online presence can deliver tangible results. Content includes:
Getting started online
How to get a website that works for your business
5 Common Web Design Mistakes
12.00 â 12.45 Julie Deane OBE: How I started a business from my kitchen table
In 2008 Julie Deane â the Business & IP Centreâs âEntrepreneur in Residenceâ â started a business at her kitchen table with a budget of ÂŁ600 budget and the aim of paying her children's school fees.
Fast forward eight years and the Cambridge Satchel Company is a multi-million-pound business that has five stores and sells products all over the world. Hear this incredibly inspiring story from Julie herself, and pick up some hints and tips that will help you grow your start-up idea into a global brand.
1.15-14.00 Virgin StartUp: Losing my entrepreneurial virginity
In less than four years Virgin StartUp has helped 2,000 people change their LinkedIn profile to read âbusiness founderâ. In that time over ÂŁ24m has been distributed to help each one of them turn their great business idea into a reality. These people are now running businesses the length and breadth of the UK, from the toe of Cornwall to the tip of John OâGroats in the Scottish highlands. In the session you will learn:
How to apply for a Virgin start-up loan of up to ÂŁ25,000 at a rate of 6% fixed p.a.
What you need to know before you apply
How to ensure you write a great application
The unique package of support that you can get alongside the cash
Plus the opportunities that might come your way from being part of the Virgin StartUp community
14.30 â 14.50 Margot James MP, Minister for Small Business, Consumers and Corporate Responsibility will share a keynote address on âThe Importance of Start-ups to the UK Economyâ followed by Q&A with the audience
14.50-15.25 Tim Campbell: Staying Alive: how to keep motivated when growing your startup
Nobody ever said that starting and growing a business was easy! Whilst the rewards can be great, new businesses inevitably must face and overcome numerous obstacles and setbacks on their path to success, some of which they couldnât ever have predicted when they set-out.
Winner of BBCâs The Apprentice and Founder of Bright Ideas Trust Tim Campbell shares his insight on how to stay focused on your endgame when youâre traversing the trials and tribulations of business start-up, and gives some top hints and tips on how to stay positive and motivated throughout the highs and lows of your own personal business journey.
15.45-16.30 Expert Impact Panel: Profit with Purpose
Big business doesn't have to be 'bad', and a successful start-up can still make a big social impact
This event, in partnership with Expert Impactâs âHuman Lending Libraryâ, will give you hints and tips for unlocking the ethical impact of your start-up and balance profit with purpose. The session will benefit those wanting to start or grow a social enterprise, or those that want to improve the social impact of their existing businesses and for those interested in the topic. Our panel comprises:
16.45-17.45 Start-up Stars: How I bit the business bullet
Our panel of business owners will talk candidly about taking the plunge from an employee, to self-employed, to employer, what theyâve learned along the way, what they wished they had known before they started, and why it was all worth it in the end. Youâll leave armed with practical insights, and feel more inspired than ever to turn your business idea into a reality.
To join in with any of these inspirational and practical talks simply register for our webcast. We will also be live tweeting as the whole event unfolds so be sure to follow us on #BIPCStartupDay to add your own comments and questions for the speakers.
Start-up Day 2017 is being held at the British Library in London as well as across 15 other city libraries in the country from Norwich to Newcastle. It is being run with support from our Event Partners the Google Digital Garage and Virgin Startup.
Posted by Innovation and Enterprise Team at 5:08 PM
With our national Start-up Day events on Thursday 21 September fast approaching, we are working with our specialist staff and many of our external partners to pull together the best advice and practical know-how to help make your jump to becoming a business founder as easy as possible.
Most start-ups are likely to have a website before their first customers and as such will need to think about delivering a secure and compelling online experience for those precious new clients. Written with help from our partner Lucidica, here are our top 3 factors to consider as a start-up, alongside choosing your brand name, fundraising, and staff.
Make sure your data is safe and secure
As a start-up, data is crucial to the growth and development of your business. The idea of losing your data could cause long or irreplaceable damage to a business of this size. However, itâs had to find the right data backup solution for your business with so many options on the market and also with the need for it to be cost efficient. Intermediaries such as Lucidica can advise you and tell you which applications weâve used and found to be effective and we will also implement these systems and ensure your data is safe. Itâs always best to talk to an expert and find out what options you have, especially when itâs a technical subject you may find intimidating.
One such example is Cerberus who is a firm of commercial investigators specialising in assisting clients to protect their businesses and brands. They received help on how to share contacts, calendars, files, tasks and other company data not just within the London and the international offices, but also available to investigators on investigations from worldwide sites. They also needed to ensure that all data was backed up off-site.
Get the best efficiency out of our tech equipment and systems
In your start-up years, technology solutions need to save your business time and also be cost effective. Whether itâs your email provider, technology equipment or other technical applications, they need to be scalable, adaptable and affordable for your business. A lot of retailers offer small businesses and start-ups special rates, even if they are run by an individual. Lucidica is a Microsoft gold partner and reseller and also a Dell partner meaning they can give you the best deal on technology solutions.
Mango Logistics Group is a London based logistics company handling courier and storage needs for customers from consumers through to FTSE100 enterprises. They have eight computers and have been a client since 2009. Lucidica provided a virtual web server along with managed email hosting within a split Linux and Exchange environment.
3. Have a plan to fend off cyber-crime and attacks
With more than 70% of cyber-attacks targeting small businesses, it is crucial that your start-up is protected. Cyber security is constantly on the rise and is becoming a profitable business for hackers. This means that businesses of all sizes are increasingly placing more priority on protecting their business and data. Not only can an attack cost you a substantial amount of money to fix, it can also lead to hours/days unable to work and files that cannot be reclaimed.
Make sure that you seek advice on what security best practices will help your business without making your work processes convoluted. Some of the questions you could plan to ask are:
How to identify the potential security flaws in the company and whereabouts it is likely hackers may penetrate to
How to create a practical data recovery plan
How to get a template to run a security audit
Where can you relocate important data
Quite often, the biggest cyber security breaches could have been prevented by the smallest changes. However, thanks to the Business & IP Centreâs new partnership with Tech experts Lucidica, we will pass on the advice you need to make the changes before anything can happen. Look out for upcoming workshops held in the British Library.
Lucidica is really well placed to offer this advice as they started small themselves â with Thomas Jeffs helping out businesses as a one-man-band in 1999. Thomas discovered he loved empowering businesses to use technology more effectively to help them grow and turned his passion into a business. Since then, Thomas has amassed an enormous amount of experience in helping over 1000 small and medium businesses solve their IT problems. Heâs gathered a team of expert engineers and support staff to help him deliver his vision. You may have even taken part in a workshop in one of his popular training sessions in the Business & IP Centre.
We are really pleased to say that some of the Lucidica team will be with us for the London Start-up Day, at the British Library on Thursday 21 September 2017. They will be on hand to answer any IT and technical questions you may have and offer their expertise advice on getting your business online and optimised.
Posted by Innovation and Enterprise Team at 11:19 AM