Wednesday, 25 June 2008

New Competition

Ever dreamt of winning a high profile award? We've been told about the Midlands Business Awards, why not find out more?



This year entries have become even easier and can be submitted online, to enter please visit the website: www.midlandsbusinessawards.com


The categories for entries are:


- MIDLANDS ENTREPRENEUR OF THE YEAR


- MIDLANDS YOUNG ENTREPRENEUR OF THE YEAR


- MIDLANDS NETWORKER OF THE YEAR


- MIDLANDS BUSINESS PERSON OF THE YEAR


- MIDLANDS SERVICE PROVIDER OF THE YEAR


- MIDLANDS INNOVATION OF THE YEAR


- MIDLANDS EXPORTER OF THE YEAR


- MIDLANDS NETWORKING CLUB OF THE YEAR


You are now able to enter the awards, please log on to the website (nominations may be made for yourself, your company. as well as for any other company or person for any of the categories)


If you want some help with your entry, let us know!

Tuesday, 24 June 2008

Promote your website

Got a business, got a website, sit back and wait for the cash to roll in. Hmmm, brilliant strategy! (At your SPEED interview, you might have got a few huffs and puffs from Mr C, showing his true feelings about this strategy)


Just one tiny little problem...where are your customers? Oh hang on, they're still there. Everyone knows that the web is where everyone is doing their business these days (*pah, don't get me started on that one!)


So why aren't they buying from you? Could it be, shock horror, no-one knows you're there? But, you have a website, surely they know about it (note heavy sarcasm).


Search Engine Optimisation - surely that will solve all your problems. Ok, it might help, but don't assume it's easy, because if it is, all of your competitors are doing the same.


How to promote your on-line business? Answers on a postcard please...

Monday, 23 June 2008

Feedback


Getting feedback from your customer can be tricky. We are all told that market research is important in writing your business plan for start-up. But what about on-going feedback about your product or service?

photo from urban mixer



Comments on a blog such as those below (!) can be useful, but how many of us really have time to formulate and then type in our ideas? How about a poll? Blogger allows me to include a poll in my blog template (see top left) but how useful are the results?


There are plenty of survey websites and online polling such as Survey Monkey, NTU's own Autoform (used by our SPUR researcher Sara Chamberlain) and I found this one recently- Poll Daddy


The first two rely on you having access to the target group, as you have to direct people to the survey. There may be random people out there who do online surveys for fun, but let's face it, would you trust their answers? Maybe you would... Anyhow, Poll Daddy seems to allow you to survey people who visit your website, so as long as you get the traffic, maybe you'll get results.


What do you think, what ways of market research work best for you? Comment below!

Wednesday, 18 June 2008

Tuesday, 17 June 2008

The SPEEDy interview- Tribbles Giftstore




State your name for the record - Diane Ryan

Please tell us what problem your business solves in 50 words or less

Brings lots of themed ideas together, saving the internet shopper time, effort and money when gift shopping for friends, family and pets

Expand on your idea – how will you make money from it?

I sell at retail, via my website and on eBay, a wide range of quality animal themed gifts and accessories

Explain who your customer is

Primarily women, aged 35, looking to spend £25+ per visit, with a keen interst and awareness in animal welfare

Describe where you see yourself in 5 years’ time

Running the business as part of a larger enterprise, covering holistic animal care. Having the income to enjoy the lifestyle I’ve been working towards – to make a sizeable contribution to animal welfare.

Random Questions –


  • Who would you most like to have dinner with? The Dalai Lama


Sunday, 8 June 2008

Parkinsons Law

I have recently had conversations with some of you that your business is taking a lot longer to set up than you had originally anticipated.


I found the blog post below really interesting. I have found that when I worked for myself I had plenty of time to complete projects, but they still took up all that time. Have you noticed that if your boss gives you a task, even one with a really tight deadline, you can pull out all the stops to deliver on time, but if you don't really have a time limit, you'll take longer to complete it.

I guess what I'm suggesting is that if things are taking longer to set up than you thought, maybe you need to be your own 'boss' and set tight deadlines for yourself. You may find yourself delivering things much more quickly!

My last employer, the award winning Neil Coles would always say that work expands to the time available, and it's quite true. What I hadn't realised that someone had proved it. It's called Parkinson's Law and you can use it to your advantage, as the following blog post from Lifehack.org suggests...if you don't want to read it here, click this link to read it on their website



Author : Joel Falconer

Work expands to fill the time available for its completion. If you’re into productivity, you’ll know this proverb as Parkinson’s Law. This interesting statement was made by Cyril Northcote Parkinson, the famous British historian and author, in 1955 - first appearing as the opening line in an article for The Economist and later becoming the focus of one of Parkinson’s books, Parkinson’s Law: The Pursuit of Progress.

Parkinson was qualified to make such a statement, having worked in the British Civil Service, seeing first hand how bureaucracy ticks. Bureaucracy itself is a by-product of our culture, thanks to the limiting belief that working harder is somehow better than working smarter and faster.

Parkinson’s Law - work expands to fill the time available for its completion - means that if you give yourself a week to complete a two hour task, then (psychologically speaking) the task will increase in complexity and become more daunting so as to fill that week. It may not even fill the extra time with more work, but just stress and tension about having to get it done. By assigning the right amount of time to a task, we gain back more time and the task will reduce in complexity to its natural state.

I once read a response to Parkinson’s Law insinuating that if it were an accurate observation, one would be able to assign a time limit of one minute to a task and the task would become simple enough to complete within that minute. But Parkinson’s Law is exactly that - an observation, not some voodoo magic. It works because people give tasks longer than they really need, sometimes because they want some ‘leg room’ or buffer, but usually because they have an inflated idea of how long the task takes to complete. People don’t become fully aware of how quickly some tasks can be completed until they test this principle.

Most employees who defy the unwritten rule of “work harder, not smarter” know that, despite the greater return on investment for the company, it’s not always appreciated. That’s related to the idea that the longer something takes to complete, the better quality it must inherently be. Thankfully, the increasing trend of telecommuted employment is changing this for those lucky early adopters, but only because employers have no idea what you’re doing with all that spare time!

Let’s look at a few ways you can apply Parkinson’s Law to your life, get your to-do list checked off quicker and spend less of the work day filling in time just to look busy. This is relevant whether you work in an office or at home, since “work harder, not smarter” is a cultural idea that many individuals fall prey to even when nobody’s supervising their work.

Running Against the Clock

Make a list of your tasks, and divide them up by the amount of time it takes to complete them. Then give yourself half that time to complete each task. You have to see making the time limit as crucial. Treat it like any other deadline. Part of reversing what we’ve been indoctrinated with (work harder, not smarter) is to see the deadlines you set for yourself as unbreakable - just like the deadlines your boss or clients set.

Use that human, instinctual longing for competition that fuels such industries as sports and gaming to make this work for you. You have to win against the clock; strive to beat it as if it were your opponent, without taking shortcuts and producing low-quality output. This is particularly helpful if you’re having trouble taking your own deadlines seriously.

At first, this will be partially an exercise in determining how accurate your time projections for tasks are. Some may be spot on to begin with, and some may be inflated. Those that are spot on may be the ones that you are unable to beat the clock with when you halve the time allotment, so experiment with longer times. Don’t jump straight back to the original time allotment because there may be an optimum period in between.

If you work at a computer, a digital timer is going to be very useful when you start doing this. It’ll also save you a bit of time, because a timer allows you to see at a glance how much longer you have. Using your clock involves some addition and subtraction! There are free utilities available for OS X, Linux, and Windows.

Crush the Cockroaches of the Productivity World

Look for those little time-fillers, like email and feed reading, that you might usually think take ten or twenty (or even, god forbid, thirty!) minutes. These are the “cockroaches” of the productivity world - little pests that do nothing but make your life a pain in the backside, pains that you can’t seem to get rid no matter how much you run around the house with a shoe or bug spray.

Instead of doing the leisurely 20-30 minute morning email check, give yourself five minutes. If you’re up for a challenge, go one better and give yourself two minutes. Don’t give these tasks any more attention until you’ve completed everything on your to-do list that day, at which point you can indulge in some email reading, social networking and feed reading to your heart’s content. Not that I recommend you spend all your spare time that way!

These are tasks where 10% of what you do is important and 90% is absolutely useless. This forces you to tend to the important tasks - feeds you need to read in order to improve in your work (for instance, if you’re a web designer who needs to be read up on new practices), and emails that are actually high-priority. Experiment with how far you can take this. Make your criteria for what makes an email important, really strict and the penalties harsh! That means using the Delete button, by the way - I’m not advocating violence against your colleagues.

You can experiment with Parkinson’s Law and squashing your deadlines down to the bare minimum in many areas of your life. Just be conscious of the line between ‘bare minimum’ and ‘not enough time’ - what you’re aiming for is a job well done in less time, not a disaster that’s going to lose you employment or clients.


Friday, 6 June 2008

10 Common Start Up Errors

This blog post was found on www.localbusinessadvisor.co.uk and I reproduce it in full here. Food for thought!


10 common start-up errors

A sign post with right and wrong decisions

Every new business owner kicks off with big dreams - but it's essential to keep your feet on the ground and avoid the kind of mistakes that cause around half of start-ups to close down within three years. Here are ten of the most common errors to look out for
  1. Bad planning. The lack of a business plan, or a poorly executed one, will drastically reduce your chances of getting funding. It can also leave you underestimating the running costs of your business and overestimating what you can achieve. Make it a priority to write a comprehensive business plan.

  2. Over-optimism. Positive thinking is good but believing your market to be bigger than it is, or that customers will pay over-the-odds for your product or service, is foolhardy. Rigorous market research will help set your sights at a realistic level.

  3. Splashing the cash. Over-investment in property, plant or other fixed assets can lead to cashflow problems, as can over-stocking. Think carefully before making major purchases and carry out efficient stock control.

  4. Easy credit. Offering customers and suppliers credit terms which are too lenient can leave you, again, with cashflow difficulties. Carry out thorough credit checks and make credit terms clear. This is especially important in today's uncertain economic climate.

  5. Ignoring the bottom line. Concentrating on turnover rather than profit is dangerous. You can use up your financial reserves and find yourself unable to fulfil orders - in other words, you'll be over-trading. Slow and considered expansion is preferable.

  6. Dependence on a single customer. Concentrating on one big customer or supplier will leave you at their mercy. They could go under, choose to go elsewhere or start dictating terms. Spread your risk.

  7. Appointing the wrong people. Your employees are one of your business's major investments. Choose your people carefully. You should be sure enough of their abilities to delegate with confidence.

  8. Overlooking the competition. Setting up your own business will consume most of your time and energy - but you should never take your eye off competitors. Remember, too, that competition can come from unexpected directions.

  9. Complacency. Interest hikes, instability in overseas markets, changes in the regulatory landscape and technology leaps cannot always be anticipated. You need to have reserves to weather difficult times and consider new directions if necessary.

  10. Failure to acknowledge your limitations.Taking independent, external advice from experts such as accountants, lawyers or business advisers is essential. Don't assume you can do everything yourself - the most successful entrepreneurs know when they need help and seek it out.

Thursday, 5 June 2008

PDA - Digital Content Blog



You know I love all things web and so as you can imagine, I love this blog! I especially like the elevator pitch feature, it's a bit like Killer Start-ups but less often so easier to keep up with. Great for showing me what new ideas are out there and where technology and start ups are moving.


Interestingly, Twitter (what is that? I'll let Lee LeFever show you) is the service so many people are creating platforms and services for. I have signed up for it, just to find out what it's about. You can follow all sorts of people, even me if you want! I'm following, amongst other the Mars Phoenix Lander, which 'tweets' about itself in the first person, so lovable!



Anyhow, could you pitch your start up on their elevator pitch feature? Could you answer their questions?

Wednesday, 4 June 2008

Tag lines

Do you need a tag line? A sentence that encapsulates your business ethos, that sums up your product or service in one sweet phrase.


The ones that work...try and guess the brand from the line.
I'm loving it
Obey your thirst
You're worth it
Be your own label( no? ok, Clarks shoes!)


This website has a great database of tag lines and slogans from all kinds of brands. Great for inspiration or testing that your idea is original (or not!)



Do you have any examples of ones that don't work?

Tuesday, 3 June 2008

Summer School

Just to show you that life here at NTU does not stop after term ends, here are a list of courses available from the school of Art and Design