50 Shades of Start-up
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About this ebook
Starting out in business for the first time? Just keep in mind that time and money are your most precious resources. With the exception of relatively few big investment, high growth projects taking on full time costly ‘entrepreneurial’ education will quite possibly do little to move your venture forward. Wouldn’t it be wiser to invest your valuable time and precious cash in your fledgling business? But first, to avoid some deadly pitfalls, you need to become aware of some really important stuff and that’s the purpose of this book.
It is essential to learn the ‘tricks of the trade’, and the best place to do that is within your own enterprise. But before jumping in at the deep end there’s some fundamental matters you need to be aware of. 50 Shades of Start-up is not another ‘how to start a business’ book; there’s plenty of these around. Its purpose is to awaken you to the fundamentals underpinning any business, think about them in the context of your planned venture, the environment in which you find yourself and your personal situation. For any kind of business getting these fundamentals right will help set you on the road to success.
Business start-up is a 24 x 7 occupation leaving little time for entrepreneurs to toil their way through conventional business books, in contrast to 50 Shades of Start-up, which sets out 50 short thought provoking, critically important, topics for you to reflect and act upon.
oWE ARE UNIQUE
oLISTEN TO YOUR HEART
oYOUR PERSONAL SITUATION
oYOUR ENVIRONMENT
oIS THERE A NEED?
oIS YOUR BUSINESS IDEA PRACTICAL?
oADDING VALUE
oHOW WILL YOU COMPETE?
oMARKET FOCUS
oTHINK OF THE FUTURE
oWHAT SORT OF CUSTOMER?
oTHE COMPLEX SALE
oCHANNELS TO MARKET
oEASIER STUFF TO SELL
oHARD STUFF TO SELL
oREALLY TOUGH STUFF TO SELL
oMISSION CRITICAL
oA QUESTION OF INTEGRATION
oSIZE MATTERS
oGIVE ME A DEMONSTRATION
oSCALE-ABILITY
oSOFT OR HARD START
oFINANCING / OWNERSHIP CHALLENGE
oFOUNDER CONSIDERATIONS
oGROWING YOUR BUSINESS VALUE
oTHE FATE OF YOUR BUSINESS
oYOU AND THE BUSINESS
oBUSINESS LEGAL STATUS
oBUSINESS PLANNING
oCASH-FLOW FORECASTING
oWHERE DOES THE CASH GO?
oCASH IS KING
oSTART-UP MONEY AND CONTROL
oINVESTMENT REALITY
oBANK LENDING
oDEBT AND SECURITY
oWORKING ON YOUR BUSINESS
oHOLD CLOSE COMPETITIVE STRENGTHS
oREGULATORY HURDLES
oINTELLECTUAL PROPERTY
oTECHNOLOGY DEVELOPMENT
oKEEPING TRACK OF THE BUSINESS
oTAXATION COMPLIANCE
oBUILDING A TEAM
oVALUES AND CULTURE
oDUE DILIGENCE
oBE VERY AWARE
oBEWARE, PREDATORS
oMIND YOUR DISTANCE
oMANAGING YOUR TIME
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William E. Bryan
At 15 I left Wick High School in the north of Scotland, with no qualifications to start work on a farm. You could do that in 1957. Although, at the time, I had no appetite for matters academic, I found science easy, spent hours building model aircraft and machines out of Meccano; engineering was in my blood. That was enough to win a coveted apprenticeship with the UK Atomic Energy Authority at the nearby Dounreay atomic reactor research establishment, setting me on the road to become a fully indentured instrument technician and opening the door to Loughborough University. My school day bete noir, mathematics, became one of my favourite subjects, helping me on the way to a First in Electrical Engineering.After a spell as a Scientific Officer, I left Dounreay to join the Honeywell corporation as a computer systems designer before moving to Hewlett-Packard where I held product management and telecommunications test R&D team leader roles. That was back in the days when H-P, primarily an instrument company, was an exemplar of how to operate a technology business. The experience gave me many of the tools I required to run my own show.H-P marked the end of my employment with large organisations as I then set out to try my hand as a technology entrepreneur. From the Scottish Highlands we designed, manufactured and sold products to four corners of the globe. The first of my ventures is still going well after 40 years, having changed hands on the journey. The ‘80s oil crisis was brought another of my ventures its knees though promptly resurrected by new investors; an edifying experience of great value in what was to become my true mission.The ‘90s took me from running small tech. ventures into mentoring entrepreneurs starting up and providing hands on management to early stage companies across a wide range of industries from food processing to silicon design. Part of that involved delivering on the job training (apprenticeship really), to budding entrepreneurs. It became clear to me that too many ventures are doomed to failure before they open their doors for business, mainly because the founders have not done their homework before starting up. It was the spur for me to establish the Entrepreneur Business School with the aim of providing newcomers to business with a pragmatic approach to building a solid foundation for a successful enterprise. I have helped many entrepreneurs on their road to fortune.
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