Website updates

I've spent most of the day uploading new things onto the SPEED project website. The web team, led by the hard working Clair Hameed, have been adding a new search facility to the Fellow's directory. Click the picture to go there...

I'd really like to think that this work is worthwhile, we have the resources available to us, but how much do we think of trying a new ways to source new suppliers or make new contacts. Phil has a saying ...never close the door. He usually means that he is open to staying in touch with people even when the working relationship is over. It pays to make and keep good networks.

I'd like to stretch that metaphor a little further...do you even notice when people are holding the door open for you? By that I mean, do we make the most of our networking opportunities? For example, on SPEED at NTU we have a partnership called Rapid Renders (guys, if you had your website up and running I'd link to it!). They make realistic 3D drawings (they call them renders I think) for design businesses.

Are you creating a product and need a design team to draw it up for you? Or are you in need of a logo design, website, advice on branding and market research? I bet there's a SPEED company that could help...

So how do you find out about these useful people? First, always listen when people tell you what they are doing. Sound simple? Picture the scene, you are sat in a seminar room and the group leader asks you to introduce yourselves. Normally you will sit worrying about what you are going to say, so that afterwards you realise you don't know anyone's name let alone their business idea.

Try this - as others are speaking, note down their name and maybe one or two words. I find it easier to note them down on the paper in the positions they are sitting around the table. I can then associate their face with the name. It's also a useful tool for coming back to during the seminar, as you can put a star by anyone you think you should get to know.

I can't say I always practice what I preach though. Yesterday at our 'team away day', I sat at the table and watched twenty people introduce themselves and could only recall the eight I already knew.

So, the fellow's directory. Use it, it's like an introduction to other companies that you don't have to memorise!
>

>

>

Oh, and make sure your businesses entry reflects what you can offer others!

check out the slideshow!!

look up... top left. How cool is that? If you want your logo or images on the slideshow, send them to me and I'll upload them!

Team away day

Just a quick note to say Phil and I are out of the Hive tomorrow, Wednesday 5th March. We are participating in a team meeting with our NTU colleagues at Brackenhurst.

See you on Thursday! (hint hint, you know we do like to see you!)

Lord Stafford comes to the East Midlands!

As you may be aware, last November, NTU SPEED was involved in the 1^st Festival of Innovation expo at the NEC. This was organised in conjunction with the Lord Stafford Awards (LSA). Unfortunately as the LSA were based in the West Midlands we were unable to enter and possibly win any of the awards. Undeterred, we gave it our best effort and, I believe, put on the best stand and had the best turn out of the show!

As a result of this effort (I wish, not really!), this year the East Midlands will have it’s own Lord Stafford Awards. The LSA are moving from the West Midlands initially into the East, before being expanded across the country. They will give £5k per company winner + considerable PR (to judge from the West Midlands event)

All of our SPEED businesses are potentially able to apply to these awards as, through their connection with The Hive they are “in association with an East Midland’s university.” There is a strong desire from the University for NTU to figure prominently in the applications, so you can expect plenty of help and support!

There are prizes of £5k each award and the deadline to return to us of Friday 25^th April.

I encourage you to look at this link for the LSA and if appropriate, contact me to get an application form, which we will fill in together. Before applying make sure you have read the judges criteria, under which the awards will be made, and try to see where your business fits in.

PLEASE RETURN YOUR APPLICATION TO ME so that I can co-ordinate those from SPEED

GOOD LUCK!

I have been getting the Enterquest newsletter for the past six months or so. I often find it useful and sometimes inspiring. I especially like the Just One Word thread, always on the look out for new words and phrases, that's me! Check it out and sign up for the newsletter if you feel so inclined. I can't see if you can sign up for an RSS feed from it, but if you see it, please let me know!

We are off to Thirsty Thursday tonight, it's my first so I don't really know what to expect. Sim, from Bantum Clothing is speaking so I guess it should be fun. I'll let you know. Harriet from the SIFE (Students in Free Enterprise) team has been promoting it through her blog. She got inspired by Antonio Gould's seminar on Blogging that we held here in November. I think she's found out that a blog can be a hard slog. But it's the same with any promotion, 'if you throw enough balls at enough coconuts, you'll win a fish!'

That's not mine, it's from Men Behaving Badly Sorry!

pics

Financials

Here's a knotty problem.

How do you set your price? Do you charge what your competitors are charging, or maybe a little less? What about a simple mark up on your costs? Simple, if you have a product to sell, not so easy if you're a service provider. What about saying 'OK, I want to earn £xxx a month. I can do three jobs per month, so will charge £x per job and earn enough'

All valid ways of working out your price. BUT, what if you can't find out what your competitors are charging, what if you have nothing in the market to compare it with, what if...?

What do YOU think?