Entrepreneurship

We are alumni of the University of Bath and we were invited back in 2013 and 2014 to present on Entrepreneurship to Computer Science and Physics students. We gave a little insight in what it is like to start your own business and what you should look out for.

Presented by Tom Robertshaw and Nick Jones

Transcript

1. Entrepreneurship
2. eCommerce
3. Our History
4. Today's Aim • Inform • Intimidate • Inspire
5. The Business of Ideas • "The best reason to start an organization is to make meaning - to create a product or service to make the world a better place." Guy Kawasaki • "Is it real? Is it worth it? Can we win?" Margaret Heffernan • "Business opportunities are like buses, there’s always another one coming." Richard Branson
6. Business Theory
7. Business Plan • Think things through • Spot potential weaknesses • Gauge success • Align founder goals and expectations
8. Agile Business Model • Spot winners and losers early • Be aware of your environment • Constantly revise your business plan • Iterate everything
9. Key Qualities
10. Startup Triangle Socialise Progress at work Exercise
11. Character Qualities • Confidence • Determination • Passion
12. People Skills • Customers ◦ Convincing them that you're right ◦ Aligning expectations ◦ Dealing with complaints
13. People Skills • Employees ◦ Maintaining professionalism ◦ Telling them what to do ◦ Staying productive
14. Research Skills • Professionals cost money • Find your own answers ◦ http://gov.uk Don't be an idiot. Get professional advice when you need it. Please don't sue.
15. Working Hard “I'm a great believer in luck and I find the harder I work, the more I have of it.” -- Thomas Jefferson • Rarely get money for nothing • You're in control of your own success • Deadlines
16. ..and that's why a degree is useful
17. Rewards are yours • Ups and downs with running your own business • The "Ups" are amplified by being your own • In time, those "Ups" should include money
18. Practical Business
19. Company Structure • Self Employed • Partnership • Limited Company ◦ Dividend
20. Financials • Cash Flow is a bitch • File your accounts • Visualise everything
22. Success Metrics • Track your success • Identify weaknesses • How do you know things are going to plan?
23. Employing People • Cost a lot of money • Make it not all about the money • Law seems to side with the Employee • PAYE / NI Contributions
24. Growth • Organic ◦ Lifestyle business ◦ Build it yourself • Inorganic ◦ External investment ◦ Quick growth ◦ Exit strategy • Focus is very different
25. What do you do now? • Get involved • Build an idea • Ship it • Build the next idea • Ship it
26. Questions? • Come and visit us @meanbee. @bobbyshaw @nickj89