I enjoyed reading the article written by Marty Zwilling about the personality traits of an entrepreneur.
In his article, he describes the personality of the entrepreneur to be:
I enjoyed the article because I can see that I have all of these. I have a strong vision of what my sector can be in years to come and I would love to be an important player within it.
I am eager to listen to the input of others, and inafishbowl.com has been an amazing experience. I have had some really useful advice from experts on the expert panel, and more recently from Imran Hakim and Iain Scott whose blogs reassure me that I was right to postpone the launch of Rico Mexican Kitchen in a major supermarket chain – thanks guys! I’ve also learned so much from my fellow Fishbowlers and I’m quietly jealous (in the best possible way, of course!) of Owain and Dom’s partnership, and that they can rely on each other to share the tasks.
However, if I’m honest, I’m feeling kind of numb and somehow not enjoying the journey as much just at this point. I have had some highs, but the low of finding that I have to be on such very tight budget is getting me down. Or maybe it’s simply because I’m tired? Maybe I just need a few days off.
Well, I had to be up today at 3:30 so I could greet the distributor who was taking my very first orders of our brand new product, TAMALES to some really funky restaurants in London. I should be really excited, I know it’s a day I will remember in years to come, but instead, I feel numb. I just keep saying to myself that I need to be patient, as success will come with perseverance, resilience, and not before a long list of failures which one learns from. I’m in it for the long haul!
You can find out more about Marcela on the interactive business website www.inafishbowl.com
After a lot of hard work, more than a few donuts consumed, and assistance from a whole bunch of helpful experts, we're really pleased to announce that the IT Donut has launched.
What do you think?
To use a bit of IT jargon, the IT Donut is currently version 1.0. We're pleased with it, but we're still looking for feedback and help so we can make it even better.
If you have any comments on the information the site contains, or how it looks and functions, send a quick email to [email protected]. Alternatively, leave a comment on the website to tell us what you think.
Be one of our experts
We're also working hard to expand the information on the IT Donut. To do this, we're recruiting IT experts to help us.
If you're knowledgeable about any area of IT, we'd love to hear from you. Again, just send an email to [email protected] and we'll see how we can get you involved. In return you'll get exposure on the site, plus the warm feeling that comes from knowing you've helped out lots of small businesses.
John McGarvey, IT Donut editor
We’ve been creating a lot of blogs for people recently, and I often must sound like a broken record in briefing meetings due to my insistence that bloggers work with a good photographer to get a professional headshot.
I can’t tell you the difference it makes.
Let’s start with the presumption that a good headshot will make you look your most attractive, professional and approachable. By attractive I don’t mean sleazy or sexy or like you’ve just stepped off a boudoir shot. I’m talking about a photograph that strokes your ego and makes you proud. But it also needs to look like you.
Before I met Matt Pereira my headshot was a picture I’d had taken in a studio in Birmingham several years before. I was one of the female entrepreneurs invited to take part in a cover shoot for a franchise magazine. They had hired a make-up artist and after several hours (I kid you not) primping and preening, we were wheeled out into the studio where we were draped over a chaise longue . To get us used to the camera, the photographer initially took headshots of us on a bar stool. I looked attractive but nothing like myself. I limped on with this photograph for several years but I had to laugh when I met the lovely Shelley van Lit from the Elmbridge magazine at an Elmbridge Women in Business event I was speaking at. Shelley said to me “I’ve been looking at your website today, I wanted to meet you. You look nothing like your photo! I wouldn’t have recognised you if you hadn’t introduced yourself”. That was me told.
Fortunately a couple of weeks later, I had the most gorgeous shots taken by Matt and I’ve never looked back. Like I said, a good photographer will take photos of you that actually look like you. But they’ll be of your best self. He or she will capture the essence of you and present you as someone people want to get to know. A good social media photograph has got to be engaging and approachable. And so that means eyes to camera, smiling and saving those sexy pouts for the boudoir shoots.
And a good headshot isn’t just about helping you appear more engaging in your social media profile. It’ll also help your website and blog appear more attractive.
So next time you think you’ll just upload that holiday snap from two years ago, think again. Find a great photographer and get some professional headshots done. It will pay dividends.
Fiona Humberstone, Flourish design & marketing
I was delighted to be invited to speak at the forthcoming Sage World event on 8-9 September.
For my part, I will be chatting about a question that has fascinated me ever since my first ‘proper job’ as an investment controller at the venture capital company 3i: What simple principles and tactics make business success easier? Or, put another way, what things allow you to survive the tricky first stage of business growth, so you can then have the time to build a truly successful business?
I’ve been discussing this topic with audiences for over ten years. It is a subject that never loses its excitement, because starting a business is never anything less than exciting for the people doing it. I come out of these sessions buzzing with enthusiasm and wanting to spend a couple of hours with each of the people who come and talk to me about their businesses straight after the session. I think it helps enormously that I started my own business as a one-man-band and I’ve continued to grow the company with no outside investment — in other words I am like 99% of the people in the audience.
Sage is one of a handful of mega-success stories in British business over the last 25 years and I’m pleased to see that Sage World is trying to do something different from the usual business event, by using their ‘interactive delegate technology’.
So there will be lots of demonstrations of the software tools you can use to get your business idea off the ground. If you’ve already established your business, then you’ll find plenty of ideas to help you build on that foundation and meet the technical challenges that small firms face in the modern business climate: finance, HR, sales, marketing, and so on.
Sage World also offers a tremendous opportunity for you to build useful contacts. Networking is about meeting the right people, making the right connections and tracking them during and after an event. So I’m dying to try out Sage’s Spotme electronic networking device - I’m sure this will really help me find and talk to the people that matter to me.
I’m sure it’ll help you, too. So please do track me on Spotme, come and say hello and make the time to hear the presentation.
Sage World is a free two-day event in September for anyone starting or growing a business.
Rory MccGwire, BHP Information Solutions
When you start and grow a business, you’re involved each day in the detail of running the business; perfecting customer service, ensuring positive cashflow, making new products and so on. This is all good and right but to plan for business growth, it’s important to step away from day-to-day affairs and take a good look at the business from a distance.
Years ago someone told me the story of a successful business owner who, once a year, would pack his bags, leave the family home, and head off to spend a week alone with the business plan. I’ve emulated this ever since and every year I think it’s time well spent. Freshly back from this year’s break, here are my five tips on how you can reap rewards from taking a business break.
1 Head to a place that stimulates the senses
This place doesn’t have to be far from home but it’s important you travel to it as the journey itself gives a sense of separation. As the car drives away/train pulls out/plane takes off, you positively feel yourself moving farther from the detail of the business and heading towards a space and place that will help you focus on ‘the bigger picture.’ Ideally, choose a place with dramatic scenery; open seas, rolling hills, tall skyscrapers; essentially you’re looking for a landscape that’s different to the one you’re used to as this will stimulate the imagination and create the perfect setting for planning.
2 Get settled
You’re in the setting and a new place, get yourself accustomed to it; take a walk, have a drink, allow your mind to wander and people watch! Feel yourself starting to relax? Good. You’re in the right frame of mind to start planning!
3 Ask yourself two questions
How has the business performed over the past six months/year and where do you want to take the business in the next six to 12 months. Write down your thoughts... on napkins... in a notebook... on your phone... whatever is closest to hand. Be ambitious in your goals and make the most of being in a place that’s encouraging you to plan for your dream business.
4 Don’t rush it
It’s likely you will come up with a new idea for the business in a ‘eureka’ moment of "Ah! Why didn’t I think of that before!" – allow time for this moment to come. You’ve certainly created the right conditions for innovation as your brain is finely tuned on the business and not distracted by detail.
5 And now for action
Possibly the most important point of all. Take your notes, head home, and get started on turning plans into reality!
Business breaks don’t have to be a full week or far away. What’s important is to place yourself in conducive surroundings. I do this alone, as did the man I emulate, but you may choose to go with a business partner or friend so you can vocalise your thoughts. Go with what works for you and know that taking time out may seem like an extravagance, but it will pay dividends.
Complaints are great. Although there is a tendency to do the same with complaints as with a medieval runner bringing bad news from the battlefield – blame the messenger – this temptation must be avoided at all costs. Complaints are the best and most unvarnished source of customer feedback. That’s when they are read in the raw, uncorrupted by staff editing, “summarisation” or by any other subtle bias from your customer surveys.
It’s much better to hear from a customer, and have the chance to fix things, than for them to bad mouth you behind your back, or even worse, broadcast your failings for others to hear. A customer who has been able to complain, and feels that the complaint has been taken seriously has already reached the first base in changing their feelings about your organisation. They are then much less likely to spread their complaints more widely.
Customer complaints highlight problems with people or processes, often way before other indicators show red. You can then fix them before they cause too much trouble. It’s all too easy to glide blithely along while significant problems are developing, with no recognition at management level. Complaints help to shatter the peace, for the better.
If you don’t already have a customer feedback facility on your website, consider introducing one. Ideally hosted by a third party so people know that the comments are authentic. You’ll get positive and negative input, and make sure you respond to the latter saying how you’ve tackled the issue.
Research has shown that customers with issues that are resolved quickly often become very loyal, which is good for all involved and often helps boost the bottom line. In other words, listening and fixing complaints creates better customers, and better customers are more profitable.
If you have a home business, how can you run it in an effective way, maximise your results and allow the enterprise to grow? Here are some tips on breaking through the barriers that could be holding your business back.
If you look at your business right now, who is involved in running it? What would happen if you took a day off, wanted a week away or were unexpectedly ill for several weeks? If you want to build a business income that your family can depend on it is important that the business does not just depend on you.
Do you ever feel the pressure of running your business is overwhelming? You can be required to cope with selecting new products or developing new services, pick and packing, promotion, marketing and accounts as well as being your own receptionist and tea lady.
There is a way to both make sure that your business can run without you AND ensure that the money continues to come in whether you are there or not:
Build a team for your business
Look at all the functions in your business. Make a list right now of all the things that you do. You might want to include:
When you’ve made your list, put a tick by the things that you like doing and feel that you are good at. Then look at the other areas. Which one would you be really pleased to get off your hands? Who could help you with this? You might need the help of a:
A virtual assistant can do many things for your business and different assistants have different areas of expertise. Some may be able to create emails and newsletters for you and upload items to your website. Others may offer call handling and be able to answer simple customer queries for you.
Or you might need someone local who can come in on an occasional and part time basis to help with packing and dispatch.
Having got this far, is there a little voice inside your head saying: “But my business can’t afford more help”? If so, push it aside for a moment or two. Think how much more effectively you could work on the tasks that you have a natural talent for if this one task or area of work was taken off your hands. Could you do more work to generate sales that would then pay for the support? Are there tasks that just aren’t getting done that are holding the business back? Getting extra specialist support could help you take the business to a new level.
Think about this over the next few days. Work out how much you would have to increase sales in order to pay for help – and conversely estimate how much sales are being held back because of the things you aren’t able to do or can’t do quickly and efficiently.
Build your network of support for your business and it can really allow your business to take off. Network on and offline and ask for recommendations to help you find your essential support people.
Be clear about the tasks you want to delegate. If you are nervous start by passing on small tasks and build up as your confidence grows. Develop ongoing relationships and set up systems that work and you will get to the stage where your business can succeed even when you aren’t there.
I have heard time and again that a business like mine needs a face. Well, the worrying thing is...whose face would it be? I guess it would have to be mine!
Now that I’m breaking even and orders are steadily increasing, I need to look at how I can promote the message that I want to shout about: about how amazing Mexican food is. I don’t want to preach about it, I just want to share recipes, mouth-watering ideas for creating food and drink to impress your friends, and a bit of the history and the nutritional properties.
And there is some absolutely fantastic news for the cuisine: UNESCO, the branch of the United Nations that is best known for its list of World Heritage Sites, has just awarded the Mexican cuisine the very prestigious status of “intangible cultural patrimony” along with Chinese cuisine. The French cuisine has been turned down twice.
The superior methods and ingredients used to prepare traditional food such as Mole sauce tamales and salsas are a sharp contrast with the processed cheese and sour cream-covered nachos and cardboard-like hard-shell tacos that many people outside the country typically confuse as Mexican food. I would love to inspire foodies to try a variety of new recipes and ingredients.
Not being such an internet whiz, I will need lots of advice to use the internet era to inspire the foodies who want to try new things. Your suggestions will be welcome.
You can find out more about Marcela on the new interactive business website www.inafishbowl.com
It’s a familiar criticism and one with which I have more than a measure of sympathy. Those nasty, greedy banks, eh? After all we’ve done for them, letting them off scot-free for the mess we’ve all ended up in, even bailing out some of the worst offenders with obscene amounts of taxpayers’ money.
And how do they repay our generosity? By not lending money to small and medium-sized enterprises (SMEs), that’s how. Well, there’s gratitude for you.
With many of the banks recently announcing huge profits, it could become difficult for some of them to continue to justify their ongoing reluctance to make credit more available to businesses – especially with mounting government criticism from Vince Cable and others. And then there are the bankers’ bonuses, of course. God forbid the day when these aren’t being paid.
Better access to credit at affordable prices could seriously ease the cashflow crises many SMEs regularly face, yet despite having direct experience of the serious strain lack of cash creates, why are so many SMEs so bad when it comes to paying their own suppliers on time?
As a freelance editor and writer, unfortunately, I speak with a lot of experience. And it’s not just the knock-on effects of having to wait for cash, as bad as these can be. It’s also the additional unpaid effort that must go into chasing money.
Not all of my customers are ‘bad payers’. There are a couple who realise that one-man-band freelances simply cannot afford to wait for their invoices to be paid. We must pay our bills and operating expenses and try to put food on the table like anyone else. Understanding customers are worth their weight in gold. These are the people you want to work for, the ones for whom you don’t mind going above and beyond the call of a purchase order form or commissioning note.
However, no matter how great the work you do or how much flexibility you show, there are other customers who use every delaying tactic in the book to get out of paying their bills on time, from pretending ‘X from accounts is on holiday at the moment’ and ‘Oh, I don’t remember receiving your invoice…’ to simply ignoring polite email reminders.
They know they can exploit the situation by ignoring timid ‘please pay within 30 days’ requests at the bottom of invoices, because – what are you going to do – charge them interest? What, at current rates? Good luck. Even if you are prepared to ask for interest (providing you’ve made this apparent in your terms and conditions), they’ll probably stop using you. After all, it’s a buyer’s market in most sectors at the moment and always has been.
In recent years, things seem to have become much worse. The ranks of the brass-neck late-payers – the sworn enemies of cash-strapped sole traders and micro businesses throughout the land – seem to be swelling. Delaying paying invoices, often to everyday self-employed people who need the money to survive and who themselves cannot get bank credit, seems to have gradually become ‘the way things are done’, a kind of malevolent current business convention.
In the post-Credit Crunch world, were it not for the millions of sole traders and micro-firms who have no choice but to bite their tongues and wait patiently for their money, the situation for many larger businesses would be much more bleak... You’re welcome.
Mark Williams, Start Up Donut editor
There are millions of online shops, and whether they’re selling clothes, books, tools, gifts, homeware or camping equipment they all had to take the first steps towards getting their store online.
Setting up an e-commerce shop might seem daunting, but by reading these tips and following them up you can make the process smooth and hassle free.
It should be memorable and not too long. You can buy domains at Go Daddy, 1 & 1 Internet and Easyspace plus hundreds of other sites. Make a note of your username and password – this is essential as your web developer will need these details.
You could also look into buying domains that are related to the products you're selling and then point them towards your primary domain.
This is crucial as it will help you focus on what you actually need at the moment and what would be nice to implement in the future. It will also help you choose who will build it (see point 5). Be realistic and remember that the more you invest in your new website at this stage, the less time and money you'll have to spend in the future developing the site.
This will enable you to give a clear brief to your potential design agencies. It’ll also save time in the long run if you have a clear picture in your mind of what you’re aiming for.
Look at e-commerce websites that you like and find out who built them or search online for agencies that can help. If you can look at testimonials from their customers or even speak to people who’ve used their services, you’ll be able to make a decision on who you feel most comfortable with.
You’ll probably find that this takes most of your time. Your web designers will give you advice on what they need from you, but if you want to get a head start you can create the product list on an Excel spreadsheet. The column headings would be along these lines (depending on what you will be retailing):
PLEASE don’t snap away with that disposable camera you stole from a wedding two years ago! There’s nothing worse than seeing a well-designed website with poor, fuzzy pictures. You may already have professional photographs from the manufacturer or you may need to book a photographer. The crucial point here is that your images must be crisp and clear.
Label them well and file them in an organised way so they will be easy to find and sift through as and when needed. Your web design provider may need to crop, cut out or alter the images for your new website and the better the quality of the photographs, the easier and more effective this will be.
Any tweaks to colours, layout, typefaces, etc should be requested now as it would be very difficult (and expensive) to change these further down the line.
You would be wise to steer clear of anything that's too "of the moment" and fashionable when it comes to design and colour - this will date very quickly. Neutral tones will ensure your website remains a contemporary classic and it will need little future investment when it comes to design.
The faster you can come back with the answers, the sooner your website will be ready to launch.
You’ll also need to test, test, test. Think of every possible scenario, try out the payment system and ask your friends to do the same. Their comments will be invaluable as you don’t want your customers to come across too many glitches in the system. There are bound to be a few teething problems and the aim here is to reduce them as much as possible before you launch to the general public.
Tell as many people as possible about your new website. If you already have a customer database, send them an email to let them know that their shopping experience is about to improve beyond measure.
Check that your web design providers have submitted your site to Google, and register with as many relevant online directories as possible such as FreeIndex and let the universe know about your new site. Make sure your web address is on all your stationery and business cards, and make good use of them.