Elite Business Magazine January 2015 by Elite Business Magazine

JANUARY 2015

Will pop-ups have an enduring appeal? Appear Here, which rents short-term retail space, certainly thinks so. As do the firm’s investors: they have just injected a further £4.8m JANUARY 2015

£4.50

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department) and British Gas retains sole discretion as to what constitutes reasonable proof. This offer cannot be used in conjunction with any other offer. The offer is available until 31 January 2015. ** Prices and boilers may change depending on existing system requirements. Excluding VAT. † Price quoted is excluding VAT and is based on an under 44kW boiler outside of the M25 area and is only available to new customers for year 1. †† Calls may be monitored or recorded for quality assurance and compliance purposes. Calls to 0800 numbers are free from a BT landline. Call charges from other networks or mobiles may be higher. Please contact your network operator for information about the cost of calls. For more information about the mix of fuels used to generate our electricity, simply visit britishgas.co.uk/business/fuel-mix.

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CONTENTS

20 Minding the gap

Appear Here is helping the high street stay interesting

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CONTENTS

VOLUME 04 ISSUE 01 / 2015 REGULARS

54 Double whammy

81 Triangle triumphs

11 12 14 17 18 98

60 One man band

86 Top tech for 2015

65 A new leaf

89 Bureaucracy baloney

As well as cash, crowdfunding can provide a welcome marketing boost

Editor’s letter Contributors News & events Talking point Book reviews Start-up diaries

The Rib Man doesn’t let the fact he’s a sole trader hold him back Ex-convicts can prove to be an invaluable asset to your team

28 Storm in a teacup

68 Paying fair

32 Urban farmers

74 Playing the fool

38 Second life

77 The hot list

Punters are going wild for The TeaShed’s brews Food production is no longer solely the domain of country folk 08

After proving their mettle running their own businesses, many entrepreneurs try their hand at investing

Women’s pay is catching up with men’s – but not quickly enough

Creating links between our great tech cities could be a recipe for success The technology no SME can afford to be without this year Small businesses are being smothered by red tape

It’s important not to take yourself too seriously, says Lyndsey Simpson The latest must-have gadgets, hardware and apps for forwardthinking small business

44 Exit with ease

Making your business irresistible may be the key to executing a smooth exit plan

46 Splashing the cash

Clive Lewis explains how one business made the most of an unexpected windfall

50 Signing up

The subscription model is gaining momentum – among businesses and consumers alike

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EDITOR’S letter VOLUME 04 ISSUE 01 / 2015

Scan this QR Code to register for Elite Business Magazine SALES Harrison Bloor – Senior Account Manager harrison.bloor@cemedia.co.uk Darren Smith – Account Manager darren.smith@cemedia.co.uk Samuel Darcy – Account Manager samuel.darcy@cemedia.co.uk EDITORIAL Hannah Prevett – Editor hannah.prevett@cemedia.co.uk Josh Russell – Feature Writer josh.russell@cemedia.co.uk Ryan McChrystal – Feature Writer ryan.mcchrystal@cemedia.co.uk Jade Saunders – Junior Writer jade.saunders@cemedia.co.uk DESIGN/PRODUCTION Leona Connor – Head Designer leona.connor@cemedia.co.uk Rishita Devji – Intern Designer rishita.devji@cemedia.co.uk Dan Lecount – Web Development Manager dan@cemedia.co.uk Marketing Kelly Dunworth - Head of Communications kelly.dunworth@cemedia.co.uk Claudia Laing - Marketing Manager claudia.laing@cemedia.co.uk Lucy Jones - Marketing Assistant lucy.jones@cemedia.co.uk CIRCULATION Malcolm Coleman – Circulation Manager malcolm.coleman@cemedia.co.uk ACCOUNTS Sally Stoker – Finance Manager sally.stoker@cemedia.co.uk Colin Munday - Management Accountant colin.munday@cemedia.co.uk ADMINISTRATION Daisy Jones – Administrator daisy.jones@cemedia.co.uk DIRECTOR Scott English – Managing Director scott.english@cemedia.co.uk Circulation/subscription UK £40, EUROPE £60, REST OF WORLD £95 Circulation enquiries: CE Media Limited Elite Business Magazine is published 12 times a year by CE Media Solutions Limited, 4th Floor, Victoria House, Victoria Road, Chelmsford, CM1 1JR Call: 01245 707 516 Copyright 2015. All rights reserved No part of Elite Business may be reproduced, stored in a retrieval system or transmitted in any form or by any means, without the prior written consent of the editor. Elite Business magazine will make every effort to return picture material, but this is at the owner’s risk. Due to the nature of the printing process, images can be subject to a variation of up to 15 per cent, therefore CE Media Limited cannot be held responsible for such variation.

Starting a business requires tenacity, grit and determination When The Times newspaper ran an article on this month’s cover star Ross Bailey, it led with the fact that the Appear Here founder is younger than the company’s interns. This is true enough. In fact, at just 22, Bailey is the youngest person to work at the company he founded just over 18 months ago. In the cover story on p20, Bailey explains how he had to break it to investors that they wouldn’t be cracking out the champers on a trip to New York after a seed round in 2012 – the entrepreneur wasn’t yet 21, the legal drinking age in the States. It’s easy to see why investors and others are surprised to learn of his age. His youthful exuberance belies his enormous experience in the retail sector. His parents run a hairdressers. He’s worked with entrepreneurs running some of the biggest markets in London. He set up his own pop-up shop. At 22, he’s achieved more than many people I meet in their 40s. His age also means he has the energy reserves essential for starting and running a market-leading business. Appear Here has the potential to achieve stratospheric growth. But getting there won’t be a walk in the park. It’ll require tenacity, grit, determination – all of which are characteristics Bailey has in spades. These are attributes all small business owners need. Even in the good times – of which I’m sure there will be plenty in 2015. Happy new year everyone. Here’s to another year of building the brightest and best companies in the world.

HANNAH PREVETT EDITOR

cemedia.co.uk

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CONTRIBUTORS Hannah Prevett The new year has begun with quite a bang for our esteemed editor – or should that be bling? She recently became engaged to partner Dinesh after a romantic proposal on Richmond cricket green. In addition to LOTS of wedding planning, other highlights in 2015 are likely to include the Elite Business National Conference & Exhibition in March, penning lots of articles for The Times and Sunday Times and an upcoming trip to San Francisco. It’s all in the name of research, honest.

Jade Saunders Saunders recently graduated with a degree in journalism after three years of sun, sea and cider living in Cornwall. After being pried away from the pasties, she returned home to join the team at Elite Business, combining her passion for entrepreneurship and her love of writing. Saunders busies herself co-owning a clothing company, Undead Glory, and has her hands full with her french bulldog puppy and partner in crime, Herbie. In her first issue, she attempts to unravel the reams of EU red tape that hinder small businesses in the UK.

Rishita Devji As our new design intern, Devji was thrown in at the deep end this month as we set her to work helping to whip our latest issue into shape. A sink or swim situation, one might say, but as you can tell from the quality of the spreads this month, she’s taken to it like a duck to water. On top of her design expertise, she is also Elite Business’s resident expert on knitting, origami and Snickers: if you need a warm scarf or some paper folded, you know who to call.

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Emilie Sandy Our resident snapper had great fun shooting cover star Ross Bailey this month. His Farringdon offices proffered lots of opportunities for Sandy to get creative and she even had the Appear Here founder hanging from the rafters (quite literally) at one point in proceedings. Having enjoyed the Christmas break with husband Karl and adorable son Freddie, we’re looking forward to many more front-page delights from Sandy in 2015.

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NEWS & EVENTS

Research from ZAPTAX showed that more than half of those self-employed in the UK do not know how to complete selfassessment tax returns. Research found that many struggle with the complicated process and when left to the last minute – as 73% admitted to have done – simple mistakes were made that led to over- or underpayment, as well as hefty fines from HMRC. Self-employed readers beware: dot your i’s and cross your t’s or the taxman could be chasing you after this month. The European Court of Justice has

ruled that obesity can constitute a disability. In a landmark case, the advocate general Niilo Jaaskinen found that very severe obesity – classified as a body mass index (BMI) of more than 40 – could be considered a disability. The findings could force widespread changes in the way employers deal with staff and considerations as to what support they might need to

WORDS: JADE SAUNDERS

Lastminute.com was sold to Bravofly Rumbo, the Swiss travel firm, for £76m, after Sabre Holdings announced plans to sell last August. Founded by Martha Lane Fox and Brent Hoberman in 1998, the online travel booking service is seen as a bastion of tech start-ups in the UK. It may have had its fair share of ups and downs in more recent times, yet Fabio

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Cannavale, chairman of Bravofly Rumbo Group, saw lastminute.com as the perfect complement to the firm’s European offering. You can’t blame him for feeling pretty pleased with himself: Bravofly Rumbo paid just £76m for lastminute. com, whilst its former owners forked out a whopping £577m nine years ago. That’s a serious travel bargain.

The government has been criticised for protecting the most expensive homes in the UK rather than small businesses and leaseholders from flood damage. Properties in council tax band H were included in the Flood Re agreement – which aims to protect those at risk of flooding from high insurance premiums – whilst small business premises, flat owners and properties built after 2009 were excluded. Ministers left out commercial properties after suggesting that these groups should not encounter difficulties buying insurance, however small businesses in flood prone areas will see their

SMES will be motoring ahead in 2015: petrol is predicted to fall to under £1 per litre, the lowest price in the UK since May 2009. The RAC was highly optimistic when it announced in its forecast that we could soon see fuel prices plummet further following falling prices in Brent crude oil. With the cost per barrel of oil dropping to just £40, SMEs that transport and export goods will see fuel expenses slashed. Good news for the nation’s small businesses; less so for chancellor George Osborne.

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NEWS & EVENTS

British small businesses are missing out on opportunities by failing to adapt adequately to the digital age. Customers want flexibility: two thirds of consumers use the web to find relevant information about the things they want to buy and 75% shop online. And on Black Friday, 30% of online orders were made via mobile devices. However, the research, commissioned by Johnston Press’ digital marketing service and conducted by Buzzboard, found a whopping 71% of UK small businesses are still incapable of handling online consumers. Nearly half of small firms haven’t got a website and, of those that did, 93% didn’t provide a contact number on the home page. There’s a proper New Year’s resolution for the nation’s SMEs: become digitally savvy.

A Beijing-based company that has become the world’s third largest smartphone maker in the space of four years is now said to be worth more than the likes of Uber, Twitter, LinkedIn and Netflix after its latest funding round. Xiaomi has raised $1bn (£640m) from investors, valuing the company at $45bn, according to the Wall Street Journal. That’s quite some increase since its previous valuation of $10bn, in August 2013. Since then, Xiaomi has focused on expansion in emerging markets like Southeast Asia, Brazil, Mexico and India. This approach is clearly paying dividends: in 2013, the company said it sold about 19 million phones; in 2014 it hoped to more than double that by selling at least 40 million units. Off the work. UK unemployment dropped to 6%, its lowest rate in six years according to the latest figures from the Office for National Statistics (ONS), whilst average earnings rose above inflation rate. Last year there were 22.54 million people working full time, which means 560,000 more people were employed in 2014 than in 2013. But, despite unemployment rates being in decline, Iain Burke, director of Totaljobs.com warned that it is “at a slower pace than we’ve become accustomed to”. He also warned that the “figures [were] likely to be driven in part by an increase in short-term and insecure work over the festive season.” Bah humbug.

The government announced details of a £6bn package that it hopes will boost British science over the next five years. The Science and Innovation Strategy sets out the priority areas for science spending until 2020/21, including a £3bn allocation to support the infrastructure of laboratories and UK universities and research institutions. Another £2.9bn is earmarked for ‘grand challenge’ projects that are often international. This will include a £95m pledge to the European Space Agency programmes that will lead the next European Rover mission to Mars. Greg Clark, universities, science and cities minister said: “This strategy builds on the great strengths of British science and enterprise and will make sure the UK is the best place in the world to do science and grow an innovative business.”

UPCOMING EVENTS Entrepreneurs in London – Goalsetting Secrets of the Super Successful January 8

Introbiz Networking Business Event January 15

Business Junction Networking Lunch January 22

Angels Den Tech Club January 28

Forge, 24 Cornhill London, EC3V 3ND

Investec Wealth & Investment, 2 Gresham Street, London, EC2V 7QN

Angels Den – Speedfunding January 14

Prelude Group – Maximise Capital Value Master Class January 21

Business Scene – Brighton Launch January 22

Business Junction – Networking Evening January 28

69-89 Mile End Road London, E1 4TT

Druces, Salisbury House, London Wall London, EC2M 5PS

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Chapel 1877, Churchill Way, Cardiff, CF10 2WF

40 Portland Place London, W1B 1NB

Jurys Inn, 101 Stroudley Rd Brighton, BN1 4DJ

Kent House, Knightsbridge, Rutland Gardens London, SW7 1BX

Business Scene – 4 Networking January 29 Fulwell Golf Club, Wellington Road, Hampton Hill, TW12 1JY

A full event listing is available on our website: elitebusinessmagazine. co.uk/events

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30/05/2014 19:40

TALKING POINT

The public eye

Companies have never been more visible or subject to so much scrutiny. So is it really true that there’s no such thing as bad publicity?

WORDS: JOSH RUSSELL

phrase often attributed to circus owner and shameless self-promoter P.T. Barnum states: ‘there’s no such thing as bad publicity’. The suggestion is that it doesn’t matter what controversy your name is attached to, as long as people are talking about you. One has to wonder if, in light of recent events, this is something that Uber agrees with. The controversial taxi app had a hell of a year last year: it faced strikes, nationwide bans and lawsuits from drivers but more recent developments have proven even more troubling. Three of its drivers have now been accused of sexual assault; there have been allegations of rape laid against drivers in Delhi and Boston, whilst another has been ‘deactivated’ for the alleged sexual assault of LA-based singersongwriter Nikki Williams. Clearly this seems to validate some people’s concerns about the safety of the service and all eyes will be on the company to see how it responds. But, as a broader point, this raises the question: can controversial firms always weather the storm of public opinion or is some reputational damage too severe to shrug off? Is some publicity toxic enough to bury a company alone or is the important thing how a brand deals with such crises of public confidence?

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A high-risk strategy It is not always the case that there’s no such thing as bad publicity and Uber could well be a prime example. If the drivers are found guilty of sexual assault, the subsequent media coverage will surely have very serious repercussions for the firm’s reputation and Chaz Brooks future business prospects. Creative director Doubtless the most well-known reputation & co-founder, faux pas in British business history was by Chaz Brooks Gerald Ratner who famously joked that a Communications particular product in his shops was “total crap”. He also said that his 99p earrings were “cheaper than a Marks and Spencer sandwich and would probably not last as long”. The adverse publicity immediately led to an almost terminal decline in the company and he stood down soon afterwards. The moral there is not to disrespect your customers. Some firms might actively court bad publicity but this is not the norm and is a high-risk strategy. The advent of social media has changed the 17 communications landscape and now consumers are able to voice their opinions through channels such as Twitter and Facebook. Companies need to manage social media in a different fashion, by engaging with customers who they may have previously ignored. Yes, most publicity is good publicity. But those that court the media need to manage their reputation carefully and learn from the mistakes of Gerald Ratner and others.

Bad press has benefitted Uber Although not applicable to every situation, the adage that ‘there is no such thing as bad press’ is one which I believe can be applied to Uber. The business has made headlines for all the wrong reasons in recent days with accusations Phil Hall of an unfair surge-pricing model, unsafe founder & chairman, drivers and, in a case in Delhi, the alleged rape PHA Media of a female passenger. Shocking revelations that would usually turn consumers off a brand. However, the public’s love for Uber continues unabated, for a simple reason: we are grateful to it. There is the view that Uber has swept in and saved the public from being held at the mercy of black cabs and their often extortionate prices and, for this reason, we are willing to forgive the less than perfect business model. It seems that even an attempt to create bad press has the boomerang effect of benefitting Uber. A point proven by how in June 2014, black cab licensed taxi drivers gridlocked the streets of London and major European cities in a staged protest against Uber, claiming it was ‘eroding the taxi trade’ and drivers’ livelihoods. The protest certainly caused disruption but also had an unintended consequence the protestors hadn’t foreseen – a huge growth in Uber’s customer base with an 850% increase in users during the protest and enhanced brand recognition.

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BOOK REVIEWS

General Assembly – The Practitioner’s Guide to User Experience Design Luke Miller

The Self-Made Billionaire Effect – How extreme producers create massive value John Sviokla and Mitch Cohen

Publisher: Piatkus Out: Now RRP: £13.99

Publisher: Portfolio Penguin Out: Now RRP: £14.99

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

ny app developer worth their salt will recognise the massive importance of user experience (UX) design. Whilst apps are becoming increasingly simple for the consumer to use, delivering a clean, simple and intuitive experience can actually be an incredibly complex process. With The Practitioner’s Guide to User Experience Design, Miller provides a useful guide on creating a fluid UX. As one can imagine, Miller maintains that good UX design begins with getting inside the head of your users and understanding how their expectations and needs can be connected with those of your business. The guide covers the usual nitty gritty of storyboarding, user-flow diagrams and wireframes but it also contains a lot of softer considerations, such as how to creatively work within and make the most of constraints and guide users naturally through each step of your app’s narrative. Additionally, Miller also highlights how to innovate and change your UX without alienating users, something that perhaps big players like Facebook would do well to heed. The Practitioner’s Guide to User Experience Design is very clear and readable and yet covers a lot of the fundamental considerations required for effective UX design. Given we’re far from being UX design experts, it’s hard to gauge the level at which it is aimed but certainly if you’re looking for a great primer on effective UX, look no further. JR

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ancy becoming a billionaire? This book might be able to help as it shares the secrets of some of the richest people in the world. Many of the self-made billionaires were high achievers in established corporations before going it alone down a path to monumental success: where would Atari be now if Steve Jobs had stayed? What would Pepsi look like had Steve Case pursued his ideas with them instead of founding AOL? Sviokla and Cohen study the determining factors that see entrepreneurs become billionaires, highlighting key character traits and business strategies such as taking risks that others wouldn’t. In a compelling study of roughly 600 billionaires in the world, Sviokla and Cohen seek to establish what leads an entrepreneur to become a billionaire. The authors have identified the two types of entrepreneurs as producers and performers. Self-made billionaires are producers and deeply empathise with customer needs; Sviokla and Cohen advise business leaders to nurture their producers and give them the encouragement to grow in order to harness this talent pool and achieve high success. With focus on several success stories, the authors discover that serendipity is as much an aspect to becoming a self-made billionaire as any other factor. No self-made billionaire is the same and they defy all expectations by creating their own destinies. Brimming with thought-provoking quotes from the likes of F. Scott Fitzgerald and Andy Warhol, this book is an essential read to inspire every money-making mogul and budding entrepreneur. JS

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the elite INTERVIEW

hortly after Ross Bailey, the founder of Appear Here, raised some seed capital in November 2012, he had to make a confession to his new investors. “When we got the funding originally, I was invited to go to New York. There was this really awkward conversation where they were telling me how we were going to go to all these clubs and I had to tell them that if I went with them I wasn’t going to be able to go out partying.” It wasn’t through a lack of desire – Bailey wasn’t yet 21, the legal drinking age in the US. Now 22, Bailey is the youngest person in his company. But, despite his age, Bailey boasts a wealth of experience in the retail sector. His parents run a hairdressers in Bedfordshire, the same salon where they met decades ago. He has worked with entrepreneurs whose backgrounds were in the London markets and he even ran his own popup. “It’s easy to join the dots when you look back on it all,” he says. Bailey ticked many of the boxes of a young entrepreneur-in-the-making. “I always found school really boring; I hated maths, science, all of that sort of stuff. I loved art, I loved business – I loved anything where you were out and about doing things,” he recalls. He and his cousin began running a DJing venture when they were just 10. “Within a week we’d coded and put a website live. If anyone booked us as DJs, we’d print money-off vouchers. We also created this ten-page questionnaire where we’d sit down with the person after the event and quiz them about how they found the service,” he laughs. Barely into secondary school, he continued to build his business acumen. “When I was 12, me and my school mate rented out a village hall without our parents knowing and we went to Sainsbury’s and bought as many drinks as we could buy and we sold tickets at school.” He continued to put on under-18 parties well into his teenage years, flogging premium packages to the “posh schools” which included a limo ride and alcohol-free champagne – which was ordered in bulk from Asda for £1 and then relabelled. Bailey attended a fee-paying school himself until he was 16. “It wasn’t easy for my parents to send me to a school like that – they went without

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Filling the void

With high streets dogged by empty units, Ross Bailey decided to make it easier for companies to find and rent short-term retail space. Less than two years later, investors have ploughed more than £6m into Appear Here, which has more than 10,000 registered brands and landlords using the site

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Weâ&#x20AC;&#x2122;re all about giving access to great space in great locations

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the elite INTERVIEW

I didn’t want to work for anyone. That was the one thing I was sure of

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holidays and nice things because they sent me to that school.” Afterwards, he briefly went to sixth form at Walton High, an academy school in the local area. “I loved everything about sixth form,” says Bailey. Still, it wasn’t enough to make him stay. “The club nights were making quite a lot of money and I realised I was learning more than sitting in business studies classes where essentially we were learning the same as we’d learned before.” He was also offered a place on a course Peter Jones, the telecoms entrepreneur and star of Dragons’ Den, was running as a precursor to the Peter Jones Enterprise Academy. “He picked 20 of us to live in a hotel for six months and we were taught by him and other amazing entrepreneurs. One day, Mike Clare, who founded Dreams beds, turned up in a Rolls Royce Phantom that said ‘Dreams’ as the number plate and he was the teacher for the day. You weren’t being taught by [traditional] teachers, you were being taught by people who were out there doing business,” explains Bailey. Whilst he was at the course run by Peter Jones, he was approached by an “old-school entrepreneur” who was a onetime owner of the Camden and Victoria markets in London. Bailey wasn’t keen. “I didn’t want to work for anyone. That was the one thing I was sure of – I wanted to go and do my own thing. But he said, ‘look, you’re going to get better experience coming to work with me than going into a big company or interning’, which is what other people from that course were doing. He said, ‘if you come to work at my office, your desk will be pushed up against mine and I’ll take you into every single meeting.’” True to his word, Bailey accompanied his boss to all business engagements – though was routinely warned “not to say anything; just shut up and sit in the meeting”. It was a steep learning curve. At one point, the entrepreneur and his business partner were opening a new club in west London and were desperate to be featured in upmarket men’s magazine GQ. “The PR company that were being paid a fortune couldn’t get them in,” explains Bailey. “He said to

me, ‘here’s the challenge: I’m going to give you 24 hours to get us into GQ. If you don’t get us into GQ, don’t come in tomorrow.’” After pulling a few strings, he duly performed the task. When his boss came into work the next morning, Bailey had left the GQ website open at the correct page to display his masterpiece. Yet no praise was forthcoming. “He didn’t say anything. He didn’t say, ‘well done’, he didn’t say ‘thank you’, he didn’t say anything at all.” After a showdown, Bailey was given a dressing down. “He said: ‘I’ll give you a pat on the back if that’s why you do things. But if you want to do your own thing, you’ve got to remember no one gives me a pat on the back, no one’s going to give you a pat on the back. You do things because they’re the right thing to do and then you move on.’” It was one of many valuable lessons, says Bailey. “There was definitely an atmosphere of if I didn’t do it I’d be gone. A lot of the time in the early days of a business where you’ve only got a certain runway it’s the same sort of thing: if you get this wrong, the company’s dead.” After his stint with the plain-speaking entrepreneur ended, he went to work in Peter Jones’s offices temporarily, before enrolling at the School of Communication Arts. Much like the Peter Jones course, the programme was taught by practitioners, not theoreticians. Bailey describes the school’s dean, Marc Lewis, as a “nutter but in the best possible way”. An eccentric, Lewis would arrive for class every day “on a Segway, with a bulldog attached, wearing crazy multicoloured trousers” with “wacky hair like a nutty professor”. But Bailey’s respect is palpable. “He was just so inspiring and so incredible,” he says. The admiration was mutual, it would appear. When he finished his course in 2012, Lewis gave Bailey the old broom cupboard to work on his ideas. “He moved out all of the caretaker’s stuff, put in a desk and gave me this tiny little room in this old church in Vauxhall and he let me work there every day,” says Bailey. During that summer, he launched a shop called Rock and Rule in the Carnaby Street area, just in time for the Queen’s Diamond Jubilee, which sold limited edition t-shirts and apparel inspired by the Queen. But not everyone was thrilled by his entrepreneurial panache. “Within 48 hours of opening, we got a call from Buckingham Palace. It wasn’t the Queen wanting to buy a T-shirt, it was us being told we didn’t have the correct image rights and they were going to ban them. So we had to box up all the T-shirts and send them to Buckingham Palace,” he explains. The minute the merchandise was banned, customer demand exploded. “Suddenly there was this huge excitement: there were these banned T-shirts and people were coming in doing everything they could to get hold of one.” After the Jubilee, Rock & Rule closed its doors and Bailey reflected on the experience. “It had been a nightmare dealing with the landlord at the time but they weren’t as bad as some

23/12/2014 19:31

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23/12/2014 09:08 28/08/2014 07:59

others had been; we had tried a number of different spaces,” he says. “The idea for Appear Here was based on the fact that there were all these empty shops and a big, archaic industry where everything’s been done the same for hundreds of years. But times are massively changing: leases have gone from 20 years in 1991 to five years now.” His wasn’t the only one beginning to realise that times were changing. Five days after the shop closed, he received a call from the chief marketing officer of a large US sportswear brand who was looking for a space for the Olympics – in just a few weeks’ time. “I charged around town trying to find a space for them and managed to find a few spaces near the Olympic ground.” The sportswear company’s experience cemented an idea Bailey first had while studying at the School of Communication Arts. He wanted to create an online marketplace where people could rent short-term space for pop-up shops, restaurants and other concepts. “There were all these little brands and people like us that wanted space and then you’ve got all these big international brands having the same problem. So whether you’re a little guy or a big guy, this is an issue. And then you’ve got all these landlords with empty space.” Never one to waste time, the initial concept for Appear Here was formalised at the end of the summer. By November, Bailey had raised “£150,000 or £200,000” from Forward

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we’ve got a really good chance to become the best in the world at what we do

Ventures and was offered some free desk space in its offices. Having hired a freelance developer, the site went live in February 2013. As a handful of other people joined the fray, the Appear Here team realised they would have to put in the hours if they were not to join the graveyard of failed start-ups. “All of the other start-ups would leave at 6 or 7 o’clock and we’d be there until much later. All the other companies that happened to be sharing desk space there were closed down, one by one. That made us realise how important this was and also that perhaps part of the reason we were working was because we were putting in the extra hours.” And the concept does indeed appear to have struck a chord with investors, entrepreneurs and landlords alike. After a seed round of $1.9m (£1.2m) in November 2013, Appear Here recently raised $7.5m (£4.8m) in its series A. It now works with 200 landlords, including eight of the ten biggest landlords in the UK, and has helped brands including Google, Microsoft, Marc Jacobs, Net-a-Porter and Jamie Oliver to find temporary retail space. “I think the whole bloody cast of Made in Chelsea have now rented a shop with us,” laughs Bailey. The company also netted a deal with Transport for London (TfL) in March last year, which will see it renting pop-up shops in some of the capital’s busiest tube stations. It is a little-known fact that TfL owns more than 1,000 retail properties at London Underground, rail and bus stations, as well as 1,200 arches under its railways. Most of these are occupied on a long-term basis but as leases expire, some space will now be reserved for pop-ups. Everyone’s a winner: commuters will gain access to a more diverse range of retailers and brands, and TfL will be able to reinvest the rental revenues back into its network. It’s rather fortuitous that Appear Here began in the capital. London dwarfs any other city in the world when it comes to the amount of cash spent in its shops. “£14bn more is spent in London than New York,” says the entrepreneur. “We’ve got quite a strong competitor in the US but we’re a UK company that’s raised a little bit more money than them and I don’t think that’s very common – and we’re a bit younger than them. We’ve got a really good chance to become the best in the world at what we do and to become that de facto site for short-term retail.” To help them do that, Appear Here has invested in some top-notch talent – it recently poached H&M’s head of menswear to become its head of operations and hired an advertising exec to look after the creative side of things. “We’re massively investing in the team and our service. We want to make sure we build this great marketplace, like Airbnb but for commercial property, with a service that’s comparable to someone like [boutique hotel company] Mr & Mrs Smith,” says Bailey. The top-tier talent joining the ranks at Appear Here is testament to Bailey’s leadership skills, despite his tender years. After all, there is a clear difference between age and experience, as Bailey points out. “I’ve been working since I was 16, which means I’ve been working full-time in London for six years. I’ve got friends that have only recently left university so may only have a year or two’s work experience. Also, having worked for some of the people I’ve worked for, I had to grow up pretty damn quickly.”

23/12/2014 19:32

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28/11/2014 10:36

ANALYSIS

City limits

Jonathan Lodge, City Farm Systems

Buckinghamshire-based City Farm Systems’ technology produces commercially viable and sustainable facilities for the growing of the most perishable and hardest to transport fresh produce. These plants and vegetables are to be produced at the point of sale or need. “This will allow fresh herbs, salads and small vegetables to be grown within supermarkets or corporate offices, which will help reduce transport costs, fuel and CO2, virtually eliminate waste and bring improvements across the triple bottom line: people, planet and profit,” says Jonathan Lodge, founder of City Farm Systems. The company’s technology has just been selected by RBS’ Innovation Gateway initiative to help it reduce its resource demands and will be soon be implemented on its estate. Lodge is obviously a proponent of urban agriculture but believes that current action is fixated on bringing allotment style gardening to the city or relocating the rural greenhouse business model to edge-of-city warehouses. “Unfortunately, the outcome is simply the replacement of some transport with large rent and rates bills,” he says. City Farm System’s patent pending technology, on the other hand, maximises rooftop space at retailers and places of major consumption. “Rather than seek incremental improvements along the supply chain, we simply remove several costly links and offer many compelling advantages.”

GrowUp Urban Farm, Photography – Vibol

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GrowUp Urban Farm, Photography – Mandy

We need to be much more clever with the ways we manage our towns and cities Alison Benjamin, Urban Bees

the quality of food in tube and rail stations.” “We benefit a lot from working with urban suppliers and can meet the demands of our customers easily with their support,” O’Brien adds. “It means low food miles, regular deliveries and buying local. Customers want high-quality, artisan foods. The relationships we have with our London suppliers are strong and we enjoy helping to promote their products by stocking them on our shelves.” In terms of food actually being grown in London, Sourced Market has worked with Calabaza Growers – an urban farm in Carshalton, south west London, producing a range of vegetables – for years. While Sourced Market started working with Regents Park Honey in 2009, it hasn’t sold any honey for the last two years because a lot of bees have been lost. Bees pollinate a third of the food we eat so this is not good news for the urban farmer. Fortunately, there are people out there working to overcome this problem and make our cities more bee friendly. Alison Benjamin and her partner Brian McCallum set up Urban Bees near King’s Cross in 2009 for training and education purposes. It received a little help from the Co-operative Group, which through its Plan Bee scheme, aims to address the decline of pollinators such as bees, butterflies and moths. While Urban Bess does sell some honey, this

isn’t its main purpose. It aims to train people about responsible urban beekeeping and to improve forage available for bees in towns and cities and to connect beekeepers with available urban land. It started with a colony in Benjamin and McCallum’s back garden at King’s Cross but has since spread to bigger areas around the city, such as Tower Hamlets Cemetery Park. “We need to be much more clever with the ways we manage our towns and cities and if we can benefit bees it will benefit us as well,” says Benjamin. “There are loads of flat roofs that we can turn into green roofs so I’m quite passionate about improving forage for pollinators.” For her, greening cities is a great idea to improve beekeeping and therefore human health and urban agriculture as well. The evidence is stacked that we need to find efficient and environmentally enhancing ways of feeding ourselves. Urban agriculture is an important aspect of the wider issue of sustainability, which aims to supply food from close-by as well as offering jobs to city dwellers. Urban agriculture is also an industry that blends innovation with centuries-old farming techniques and is attracting people from all backgrounds to its cause. If you live in a city there’s probably an urban farm lurking just around the corner, and if not, there could be very soon.

23/12/2014 19:39

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30/09/2014 17:02

FINANCE

The other side of the table

When making use of their first-hand experience, entrepreneurs-turned-investors have a real advantage over other types of investors. But this doesn’t mean that the transition isn’t fraught with risks

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WORDS: JOSH RUSSELL

fter a successful exit, most likely the first thing an entrepreneur will do is break out the Veuve Clicquot and crack out the holiday brochures. “If they’ve made £5m or £25m, the first thing that most entrepreneurs do is pay off their debts and buy a house,” says Julie Meyer, CEO of Ariadne Capital, an investment and advisory firm. “But in a year’s time, they wake up and say ‘okay, what do I want to do now?’” There are a range of common responses, from moving to an island paradise to returning once more to the breach and launching a new start-up. But some choose to use their entrepreneurial experiences to go into investing. Aside from the lure of making more money, one of the most oft-cited reasons for becoming an investor is that many are attracted by the prospect of giving something back to the ecosystem that supported their success. “Entrepreneurs tend to be some of the most generous people because we’ve all been helped by people along the way,” Meyer says. “We tend to be very much ‘how can I throw some goodwill into the universe’.” Few successful entrepreneurs will have forgotten the investors that helped them achieve that success and inevitably want to provide similar support to other enterprises.

23/12/2014 19:41

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30/09/2014 17:50 17:10

FINANCE

A capital idea Julie Meyer

A large amount of what entrepreneurs do is follow our gut feelings Paul Lees, angel investor

It’s also possible that entrepreneurs are just reverting to type. “Naturally, we’re builders,” says Paul Lees, angel investor and former CEO of Powwownow, the free conference call provider. “Entrepreneurs are not necessarily very good managers.” The personalities that are drawn to entrepreneurialism tend to be pioneers rather than maintainers; this means that in investment terms they’re more likely to get their kicks out of helping start-ups grow than from playing the stock market. “The interesting thing is that early, high-growth stage,” he continues. “That’s probably our special skill.” Another benefit that Lees thinks former entrepreneurs have over their more established brethren is their instincts. Whilst it’s always important to establish the financial case for backing a business, trying to understand the je ne sais quoi that makes a business become a runaway success can’t be worked out through the financials alone. “There isn’t a book that

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tells you how to do those things,” he says. “The numbers are important but a large amount of what entrepreneurs do is follow our gut feelings and it’s very difficult to put that down on paper.” However, Meyer cautions against trusting gut instinct blindly. “Entrepreneurs tend to be very passionate,” she says. “They tend to fall in love with things.” Of course, there is nothing wrong with passion per se but the problem comes when this causes an entrepreneur-turned-investor to lose their objectivity. Meyer has witnessed cautionary tales where becoming too subjectively involved in a business has resulted in an investor losing unnecessary amounts of capital. “They believe they can have this same ability to turn their money into something magical as they were doing when they were working 100 hours a week for three years,” she says. “And so, just like that, they lose £200,000 essentially overnight.” This is why making the right choices when it comes to investments is so vital. Given that an entrepreneur-turnedinvestor needs to accept that the start-up they’re investing in isn’t their baby, one needs to be sure that the founders they back are capable of seeing the project through to fruition. “It’s all about the team,” Lees says. “The idea’s important but it’s the people undertaking it that are the key to whether or not a business will succeed.” It’s an oft-repeated truism in the start-up space that an idea that isn’t working can usually be pivoted, whereas a bad team is something that you’re stuck with. In part, one of the most significant dangers of former entrepreneurs investing in new start-ups is the fact that they’re likely to suffer from the burden of too much knowledge. It’s natural to want to help others avoid the mistakes you have made

Having gone from building and exiting a start-up to creating her own venture firm Ariadne Capital, Julie Meyer is perhaps the quintessential entrepreneur-turnedinvestor. She set up First Tuesday, the networking organisation for tech start-ups, in 1998 and achieved a $50m exit just two years later, something which gave her invaluable experience in what it takes to grow a start-up to fruition. “I learned a lot in short period of time and that enabled me to really understand quite a lot about building a business, running a business and selling a business,” she says. Whilst it would have been a natural step for her to simply join an investment bank or an existing VC, her experiences had taught her the huge value that an entrepreneur-led investment company could bring. “I came to the conclusion that the people who had ‘gone into the building’ so to speak and lived to tell the tale had quite a lot to share with people who were considering setting up a start-up,” Meyer explains. To help facilitate this, she set up Ariadne Capital as a means to help other entrepreneurs achieve these kinds of exits. And Ariadne has certainly achieved these aims in its 15-year tenure. “We’ve managed to create a gravitational pull by virtue of our empathy and our reputation for being fair, hard-working, smart and adding a lot of value,” Meyer says. “We don’t just give up on start-ups when it gets difficult or they get shot at; we’re there with them in the trenches.” Because of this, Ariadne Capital has been able to support the growth of high-profile enterprises such as Skype, Monitise and Zopa.

23/12/2014 19:42

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FINANCE

but it’s important to recognise the difference between acting in an advisory role and becoming a backseat driver. “You are no longer the boss,” says Lara Morgan, the serial entrepreneur and angel investor. “Recognise that you are no longer in the cockpit and are not in a position to just grab hold of the controls.” However, it’s rare that an investment relationship will just be a cash-injection alone; many firsttime start-up teams will be expecting to access an investor’s experience as well as their capital. But the key is having a light touch, rather than trying to mould someone else’s business according to one’s Julie Meyer, Ariadne Capital own agenda. “If you’re going to sit there and tell him or her that they’re wrong, the entrepreneurs are going to stop listening,” Meyer says. “You’ve got to find ways of being a coach, an influence with carrot – not stick.” Despite this, even when making the most astute of decisions and advising with suitable sensitivity, it’s important to recognise

You don’t want to jump in with both feet and put 50% of your net worth in

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that even the surest of bets also come with a risk of failure. “When it comes to angel investing, the textbook says [when] you invest in ten, seven go bust, two do nothing and one does something special,” Morgan says. She has met several entrepreneurs who had simply invested in businesses and expected a return, regardless of their actual involvement in the start-up or their experience. Inevitably these individuals saw significant losses. “Many had lost all of their money or were heading in that direction,” she says. Protecting oneself against these kinds of losses involves a little common sense. Particularly for those who are less experienced in the financials – for example those who have never worn the CFO mantle – it’s important to nibble away at investment rather than biting off more than you can chew. “You don’t want to jump in with both feet and put 50% of your net worth in,” says Meyer. And an entrepreneur-turned-investor needs to conduct some thorough due diligence to make sure they know what they’re throwing their money behind. It’s vital to go over the figures with a fine-toothed comb and an investor shouldn’t be afraid of asking to speak to customers and shareholders. “Sometimes people will not do certain kinds of due diligence because they get pushback from the founder or they feel awkward – ‘the entrepreneur’s going to think that I don’t trust them’,” Meyer continues. “Well the simple fact of the matter is that, unless you know them extremely well, you probably shouldn’t trust them.” But, regardless of how solid a business is at the time of investment, some losses are unavoidable and, in Lees’ opinion, failure isn’t necessarily the worst thing in the world. “Does it hurt if I lose money on something? Yes,” he says. “But do I think failure is a bad thing? No.” The ‘fail often’ mantra has come to hold especial significance in the high-growth start-up space; failure is rarely the end but is simply an opportunity to iterate, learn from one’s mistakes and hone one’s strategies. “The worst thing you can do is nothing,” says Lees. “You have to change, evolve and try different things.”

23/12/2014 19:42

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28/11/2014 19:48

FINANCE

Five-minute money masterclass

Engineering an exit

All journeys have a beginning, a middle and an end. While reams of pages have been dedicated to starting and managing a business, exiting is too often neglected. Entrepreneurs could pay a heavy price for complacency so planning early can make for a much stronger, more resilient company with a larger market value, which has a direct effect on whether you leave your business feeling satisfied or not

WORDS: Ryan McChrystal

Plan up to four years in advance

Money masterclass.indd 1

If you want to get the most of your exit, you’d better get a headstart. Stuart Lucas, co-CEO and founder of Asset Match, advises that businesses plan well ahead; at least two to four years before the move, which means getting it into tip-top shape now. “To sell your company successfully, ensure that it is looking professional from a governance and financial reporting perspective,” says Lucas. He suggests speaking to a non-executive director, perhaps with some City-related experience. “Their advice could be invaluable when it comes to attracting buyers and ensuring the business is presented in the right way to get the best price,” he explains. Planning also means knowing how much your company is worth. “Business valuation is partly an art form but make sure you understand the underlying metrics your business is valued on – EBITDA, PE multiples, growth prospects, sales, forward earnings, or whatever it may be – and focus on that.”

Keep one eye on the market at all times Jane Gomez, MD of the Supper Club, has learnt that when it comes to selling, it is vital to stay in tune with industry movements and not to take your eye off the wider market. “As with many decisions an entrepreneur takes, planning will only take you so far and a decision about exit may well come down to gut-feeling or taking advantage of an unforeseen opportunity.” When observing a market it is always worth knowing what the competition is doing. It’s also a good idea to keep an eye out for private equity investors. “At any one time, private equity firms will have their spotlight on a particular sector, which means there’s a period in which they will pay a premium. When that happens you want to have the chance to sell and have first mover advantage so be ready just in case,” says Gomez. “What you can and must control is how ready your business is for sale. A salable business is a growing business, so don’t let the idea of exit take your eye off the ball.”

23/12/2014 19:50

FINANCE

Create a market Markets are capable of taking on a life of their own and you are much more likely to sell well if you’ve got a great position and you’ve made sure possible buyers know it. “The more of them that know it, the merrier you will be,” says Pete Wild, senior lecturer in accounting and finance at Manchester Metropolitan University (MMU), who has worked with hundreds of SMEs through the Goldman Sachs 10,000 Small Businesses Programme. Wild has found that creating a market for your company can really get the ball rolling. “Get a bidding war going and you’ll sell quicker and for more,” he says. In order to do this you must be bold. “You need to make a noise, raise a flag and carve out a position in your markets that makes you irresistible.”

Target a specific buyer When creating your exit strategy, it is important to establish who your business is aimed at. “Targetting a specific buyer or two can help owners sell well,” says Wild. “It makes the process feel a little realer, gives a focus to boring exit planning activities and encourages owners to really consider what matters to a possible buyer.” Your marketing strategy could ultimately fail if you do find the right people to aim at, regardless of how much preparation you have done. Once you know the type of people you are aiming at, you can look to conduct further research to see if there are any types of customer with more specific needs than others.

Look closer to home “Many companies that are sold outright don’t go on to perform well because employees do not feel the same allegiance towards the new management,” says Lucas. So it might be a good idea to look a little closer to home. One option is to consider your own staff. “Look to the people who helped build the business and plan your succession. Offer a share incentive scheme (perhaps EMI or SIP) to create loyalty and when the time is right outline your exit plans and you may find they will want to undertake an MBO.” It may take your staff a while to find the funds and develop the right skills but at least there is a chance to see your business continue to thrive. Alternatively, you could consider hanging on to part of the company. “Rather than doing a full exit you could take out some of your cash by selling shares in the business. Companies don’t have to go public to do this anymore; new online marketplaces, such as Asset Match, allow investors to buy and sell shares in private businesses on a regular basis, creating liquidity,” Lucas adds. “By selling shares gradually and keeping a position on the board you can keep an interest in the business.”

You need to make a noise, raise a flag, carve out a position in your markets that makes you irresistible Pete Wild, company

Stuart Lucas, co-CEO and founder, Asset Match

Money masterclass.indd 2

Jane Gomez, MD, the

Supper Club

Pete Wild, senior

lecturer in accounting and finance, MMU

23/12/2014 20:18

FINANCE

One year on...

CLIVE LEWIS ICAEW

Clive Lewis, head of enterprise at ICAEW, explains how one entrepreneur’s business has benefitted from scooping The Pitch’s 2013 One to Watch crown “Andrew has also all the right connections to help move the business along. We’ve had to do quite a bit of learning on the job before we hired areth Bristow and his business partner Philip Pike set up Rodia Andrew. We lost a bit of money through R&D Technologies to develop the core innovative technology behind tax credits because we weren’t advised on those a design for rotary hand pumps. The initial product was for a entitlements. It was only through discussions more efficient hand pump, which would result in far quicker bicycle tyre with Clive and Andrew that we started to inflation times than those presently on the market. look to getting the best out of the tax credits. It was enough to secure the founders The Pitch’s 2013 Andrew’s been very helpful in terms One to Watch gong, for which the prize was receiving of what we need to do and he will £1,000 worth of advice from a chartered accountant in continue to give us the right advice the ICAEW’s Business Advice Service. in terms of instruments to claim back the tax credits,” says Bristow. Twelve months later One of the first services Hill As time has passed, Bristow and Pike’s range of Osborne undertook was arranging products under development has expanded to include the business structure to maximise medical and other scientific uses for the patented the potential income from patents via actuator. But diversification never comes cheap: the the ‘patent box’ scheme. This involved Gareth Bristow on the left and business partners realised that they would require setting up a new company, Roc-Pro his business partner, Philip significant funding to bring the expanded range of Limited, with their first investor. Pike, on the right. products to market, as it would require the design and development of prototypes and market testing. So what does the future hold for As a first step they will be applying to the Technology Strategy Board Roc-Pro? and Horizon 2020 for grant funding. They have also raised some initial The future is bright for this growing company. equity finance and down the line they will be seeking further equity In the next year Roc-Pro will apply for EU investment and finance through Kickstarter. The entrepreneurs have grants to help fund the prototyping of the proven themselves to be cash savvy after investing their winnings. core ROC technology. As well as entering the medical sector, the founders continue to How the £1,000 business advice was invested… have their eyes firmly on the cycle market. The business’ initial need for advice was around getting the right company “We intend to initially exploit the new structure, the managing of the patent income, securing any R&D tax technology in the world’s first truly compact and rotary cycle pump for which we have credits as well as general tax planning and advice on record keeping. Gareth searched the ICAEW Business Advice Service (BAS) website and received an international design award,” says Bristow. “We’re very proud at what we have located three firms offering the BAS free advice session. After an initial meeting with Andrew Hill, the founders appointed his firm, Hill Osborne, achieved so far and extremely excited for the as their advisers. future of our business.”

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28/11/2014 10:07

SALES & MARKETING

Pledging

allegiance Striking a balance and coming up with the right model is the best route for customer retention in the subscription service world 50

WORDS: Ryan McChrystal

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hether it’s watching movies, listening to music, reading the papers or drinking craft beer, there’s a subscription service for it. Last summer, the video-streaming service and subscription trailblazer, Netflix reached a three million customer peak in the UK, double what it was the previous year. More than one in ten households are now paying between £7.99 – £11.99 to watch unlimited TV shows and movies on a plethora of devices. Likewise, Spotify is bringing music to over one million consumers in the UK for a reasonable monthly fee, and may soon take over Apple’s iTunes as the biggest music service in Europe. Smaller subscription-based companies are also on the rise in the UK as the product economy gives way to the subscription economy. Within this market, companies need to handle customer loyalty, pricing and selling very differently. Running a subscription company means there is a continuing relationship with the customer and therefore the need to please is ever greater. Not Another Bill is a subscription service with a difference, in that, for the most part, subscribers don’t know what they’ll get in the post. The company has been going since 2011 and is essentially a lucky bag for adults. As a subscriber you will be sent a surprise gift each month based on your style and preferences. Out of a choice of 12 broad areas, you can choose gifts, ranging anything from homeware products to art and stationery. There are even ‘nostalgic’ gifts. The point of Not Another Bill is to offer not what people may need but what a lot of people might want. Founder Ned Corbett-Winder says: “Because we have such a wide range of products on offer, our customer base ranges from 75-year-old women to 19-year-old men; the key to uniting them all is the interest in unique products. We’re not going to be for everyone but I’m sure everyone can think of someone this would be useful for.” Finding broad appeal is certainly one way to ramp up the

23/12/2014 19:51

subscribers. Corbett-Winder had previously worked as an art director for an ad agency and as such had access to a range of designers and artists – the same people who supply a lot of produce to Not Another Bill today. When a friend complained that he never got anything interesting in the post, the novel idea was planted in Corbett-Winder’s head. However, a novel idea will remain just a novel idea unless you have the infrastructure to support it. “We have a very easy-to-use website that we’ve spent a year improving. It’s all about automation,” says Corbett-Winder. Fashion subscription service JustFab uses its website to ensure subscribers –

We have a very easy to use website that we’ve spent a year improving on. It’s all about automation or ‘VIPs’ – get exactly what they want. It offers an engaging and personalised shopping experience to over 35 million members worldwide, providing the celebrity treatment every month. For a fee, customers receive a new and customised selection of shoes, handbags, jewellery and denim as and when they want them. “I’m going to be biased, but our website is very, very easy to use,” explains Gerrit Mueller, head of Europe for JustFab. “If you are an online service and you have a website that’s not easy to use, then people are not going to be using your service and won’t be converted into happy shoppers.” As a fashion company, it also wouldn’t really bode well if your site didn’t look good, he adds. Personalisation is of utmost importance for JustFab. Based on customer preferences, a combination of simple algorithms and the work of a personal stylist, VIPs are presented

Pledging allegiance.indd 2

23/12/2014 19:51

SALES & MARKETING

with their very own showroom. Every item at Just Fab costs £35 – which is an exclusively lower price than buying as a non-VIP from the site – but the pricing system is a little more complex than that. The only obligation a VIP has is to visit their showroom once a month and say whether they like or dislike what’s on offer – which helps with personalisation. If they don’t want to buy anything they can simply skip that month. However, if they fail to like or dislike their showroom, they will be charged the £35 that can then be spent on the site. This opt-out model ensures that customers don’t end up buying something they don’t actually want – and a happy customer is a returning customer. Subscriptions aren’t all about what people want but are often borne out of necessity. Warren Fauvel is CEO of Nudjed, a subscription service that helps people set and reach health and fitness goals – for example, to lose a stone or run a half marathon. It works by providing customers with a series of simple, step-bystep challenges that gradually change the person’s behaviour, with plenty of reminders and encouragement along the way. For subscriptions, the price is central to the customer and each customer must think they are getting greater value than the recurring payment they make. Nujed allows subscribers to sign up on free, bronze, silver or gold packages. Despite the name, the freemium model is typically used by digital offerings such as software, media and gaming as a way of making more money. Take the telecommunications app Skype for example. It allows anyone to sign up for free computer calls but in order to receive voicemails, call landlines and various other add-ons you have to pay. Most of Nudjed’s customers come via B2B deals with

It forces the vendor to really earn the money every year. If we’re not doing our jobs, the customer can walk away Matt Pfeil, DataStax

Pledging allegiance.indd 3

businesses that have an interest in wellbeing but it recently began a pilot scheme with health retailer Superdrug in order to gain more commercial customers. Superdrug pharmacy staff will be trained to give better informed health advice to its customers, who will also be able to subscribe to the new online service through their local store. This method of finding partners – whether commercial or B2B is popular among many subscription services. Spotify, for example, has a ‘partners’ service, which allows other companies to create playlists, a process that has mutual pay off. One of the biggest challenges for any subscription services these days is compiling and understanding big data. Managing the intricacies of customer data is what keeps a service like Netflix on top. By keeping track of which movies a customer watched until the end, which they switched off pretty early on and what actors they seem to like, Netflix can tailor its recommendations to suit the punter and with such a wide offering of TV shows and films, keep you watching for days, weeks or even months. Maybe this is how you ended up chainwatching Breaking Bad. DataStax is a subscription service that helps other subscription services deal with their big data. It provides the database that is used to capture information on what users watch on Netflix, as well as the personalisation functionality that fits within Spotify. “We are a database company which sells software that a lot of companies use, mainly an opensource project called Cassandra,” explains Matt Pfeil, chief customer officer at DataStax. “One of the things we’ve done differently actually is to sell our software as a subscription rather than so the customer buys it on a year-by-year basis,” he says. This is good for the customer as it forces the vendor to really earn the money every year. “In other words, if we’re not doing our jobs, the customer can walk away. There’s no huge up-front cost, it’s broken into sub-costs, and that’s something that’s happening a lot right now.” To succeed in the subscription world, companies should focus on some key factors, including digital infrastructure and price. However, in such a customer-retention driven business, variety and personalisation will ultimately leave your company grow its subscriber base.

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SALES & MARKETING

Whilst the focus of crowdfunding is often on hooking start-ups with much needed funds, its real power is how it can harness the advocacy of the crowd

WORDS: JOSH RUSSELL

t’s almost impossible to ignore crowdfunding these days. The cult of Kickstarter and the swathes of equitybacked platforms mean that there is a persistent buzz around the medium that seems unlikely to fade any time soon. However, most of the attention paid to crowdfunding focuses on how it can help connect start-ups with much needed capital. Something that receives less attention is how it can be a powerful marketing tool in its own right. As phenomena go, crowdfunding has well and truly caught the public’s imagination. Part of the reason for this is that it allows people to play an active role in supporting small firms in a way that previously wasn’t possible. Being able to get involved in a brand’s narrative right from the off and play a part in that story can be incredibly stimulating. “They really buy into and believe in the entrepreneur and the people that started up these companies,” says James Codling, co-founder of VentureFounders, the equity-based crowdfunding platform. “And it’s very exciting being part of something that’s growing, something that’s dynamic.” This means that crowdfunding naturally creates engagement and this, in turn, leads to advocacy. “If you love a company, you find out you can own a part of that company and be a part of that company, [it] means that you become [...] a true advocate,” says Lizzie Fouracre, chief operations officer of Clear Books, the cloud accounting software provider. “Your fans and investors will share with others the fact that they own shares in an awesome company.” Rather than just a couple of investors promoting a new venture, crowdfunding can quickly connect a new venture with hundreds or even thousands of

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are slightly more cynical than the rewardspotential advocates. Being flush with some based,” he says. extra funds certainly helps a business grow but having an army of new devotees out there On Angels Den, he has found most businesses that break 65% funded tend to go promoting your brand can be the fertiliser that will help it thrive. on to achieve their funding goal. Given the But advocacy is only a small part of the investors with the deepest pockets also tend to be the most circumspect, they are unlikely potential boost a crowdfunding campaign can give a start-up. Sometimes when developing a to touch a business that is struggling to win over those more easily swayed. “They almost business plan it can be tough to know whether you are drinking your own Kool-Aid but a need that 65% market validation to then come in,” says Morrow. “It successful campaign can clear away these doubts by allows you to prove your marketplace to them.” acting as proof of concept. “The crowd invest or vote When a crowdfunding with their feet in terms campaign builds up serious momentum, of whether something should be successful,” says however, it’s not only investors that begin to Codling. This can help validate a start-up’s market sit up and take notice. Codling points to one and demonstrate that of its campaigns for there is a clear desire for its Bill Morrow, Angels Den FreedMan, the maker of product or service. an osteopath-designed And whilst this may ergonomic chair. After a very successful have a strong role to play in rewards-based rewards-based round on Kickstarter, crowdfunding, Bill Morrow – co-founder and director of Angels Den, the integrated angel the enterprise raised over £900,000 on and crowdfunding platform – believes it has an VentureFounders to go into full-scale commercial production, which created even more significant impact when looking at something of a PR furore. “Freedman then raising equity. “The equity crowdfunding mob

If you fail to get any engagement, then that tells you something

Crowdmarketing.indd 2

Loud and clear Clear Books

Clear Books is no stranger to the marketing boost afforded by crowdfunding. After struggling to raise traditional finance, the cloud accounting software provider took the radical step of setting up its own crowdfunding platform, which it dubbed ‘cloudfunding’. “We wanted to keep our identity and nurture our community spirit by allowing our customers (and non-customers) to invest in us and become a part of the team,” says Lizzie Fouracre, the company’s chief operations officer. Fouracre feels that Clear Books’ existing customers stepping up and backing the business acts as a real vindication of a business like theirs. “These were people using our software every day to run their own business,” she says. “If our customers believe in the product we have built and are prepared to invest, then that’s a green light.” This ultimately has helped it grow its customer-base beyond the initial set of investors as others can see how committed its existing users are. It has also created high levels of advocacy, helping to further spread the word and bring others on board. “They are our everyday customers and ultimately become a part of our sales and marketing through their word-ofmouth recommendations,” Fouracre says. “Crowdfunding brings a sense of community to a business, and if that sense of community is contagious, then more people want to be involved.”

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appeared in various different publications,” Codling says. “It’s received a huge amount of interest from the media and the medical profession.” Given the buzz a successful crowdfunding campaign can create, it’s not surprising that ventures of all kinds are increasingly becoming attracted to crowdfunding for more than just its ability to bring in the readies. Angels Den is currently helping to raise funds for a band that has come to the platform not for its fundraising abilities but for the fact that the platform can help to engage its huge following. “It could afford to do it on its own but what it wants is to get the involvement of its 14 million Twitter followers,” explains Morrow. “It’s going to sell its product via social media and thus it wants to involve people at the point of sale.” However, when it comes to equity-led funding, trading off a lot of equity when one doesn’t need to is not going to be a smart

move. Not only does it mean diluting control of one’s business but it also diminishes the potential return an entrepreneur will receive at exit, something that might not be worth it for a small marketing boost. “If there’s a clearly identified plan and a need for cash and equity, then yes, of course, crowdfunding should be one of the routes that they consider,” says Codling. “But I wouldn’t ever advocate the business just launching a crowdfunding campaign for the sake of it.” Another reason why it may not be too wise to rush into a poorly thought out crowdfunding campaign is that whilst positive campaigns can pack a seriously positive PR punch, failed campaigns can turn round to bite a brand on the behind. “There is an element of vulnerability as you expose your business not just to potential investors but also to critics and competitors,” Fouracre says. This means that failures can be high-profile and subsequently hard to brush under the carpet. But it’s an ill wind that blows no good. Rarely in the start-up space are things perfect from the off and the benefit of the kind of market feedback that crowdfunding can give an entrepreneur is that it enables them to correct the things that aren’t working. “If you fail to get any engagement, then you know what? In a weird kind of way that tells you something,” says Morrow. If consumers or investors don’t bite during a round of crowdfunding, it’s a lesson that can allow an entrepreneur to hone their model and try again. “I’ve seen people on rewards-based crowdfunding platforms come back a third time, a fourth time and a fifth time and Americans in particular love that tenacity,” he continues. And, in actuality, the marketing benefits one can reap from a crowdfunding campaign are a matter of how much effort the entrepreneur puts in. “It’s not a question of just throwing it up there and hoping for the best,” says Caroline Lister, marketing director of VentureFounders. “To go that extra mile and actually get that exposure – as we all know – takes hard work.” The real successes Venture Founders has seen in terms of high-profile campaigns are those that have put the energy in to get the word out and start the ball rolling. “They’ve worked with us around how to get that maximum exposure and how to get the story out there.” This means that for those willing to go the extra mile, crowdfunding can really galvanise a start-up’s marketing efforts and help it make contact with a wide range of advocates.

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SALES & MARKETING

Y L O H 60

F **K

WORDS: RYAN MCCHRYSTAL

The Rib Man has become something of a legend on the London street food scene with his off-the-bone baby back ribs. With the help of social media, his hot sauces are spanning the globe one bottle at a time

WORLD DOMINATION

SALES & MARKETING

hile world domination may the goal of many businesses, some mean it more literally than others. Usually to go global you need a network of contacts, infrastructure, big money and a foreign headquarters. For a one-man show operating out of a converted shipping container in east London it may be a little more difficult. But that is just what Mark Gevaux – aka the Rib Man – is doing, one bottle of his signature ‘Holy Fuck’ hot sauce at a time. And he is doing it with little more than a small space to cook and a Twitter feed. Gevaux engages directly with his customers on Twitter – spanning Vancouver to Moscow, Australia to São Paulo and most of Europe – responding to every tweet. Social media is his linchpin. “When I used to work in the butchers, big companies like Tesco were putting us out of business but now small businesses are fighting back and Twitter is part of that,” he says. He has built up a following of around 14,000 followers, who more accurately could be called fans. “They all feel part of it and they are. I craic with them on there any time of day or night.” It was this personal touch that won him the ‘Best Use of Marketing’ prize at this year’s O2 Smarta 100 Awards. However, by most business standards, Gevaux’s use of Twitter is a little unusual; while other companies may have a PR guru making sure everything looks and sounds user-friendly before going live, the Rib Man doesn’t have much concern for what other people think. “If someone doesn’t like what I say, that’s fine – I don’t want to go through ten people before putting out a tweet,” he says. His priority is always going the extra mile for those that matter, and his rough-and-ready style has earned him an army of dedicated customers. With the Smarta prize money, Gevaux wants to convert a golf buggy, complete with Rib Man insignia, and expand his range for selling his ribs and sauces. This is very much in line with his DIY-ethos of marketing, having raised £16,501 to fund the business through 765 Kickstarter backers. Funding in this manner means there are no bigwigs telling him what to do and that’s just the way he likes it. “With street food, it’s all about being on the streets with the customers so we’ll stay small, close to the customers and keep it real,” he says. The Rib Man isn’t just crowdfunded but crowd-tested and designed too. “Me and a few customers started messing about with hot sauces because I couldn’t find one that I liked enough to use on my ribs. I’d make a batch and customers would tell me what they thought. I’d then go back and experiment some more.” The culmination of this effort was a sauce called ‘Holy Fuck’, named so because this is usually what people say when they’ve a mouthful of the stuff. His sauces are made with naga and scotch bonnet chillies – among other things. Gevaux’s Twitter followers have even had a hand in designing the labels. ‘Holy Mother of God’ is another favourite but ‘Christ on a Bike’ is a top-seller at the end of the year. “I’m bringing Christ into more homes this Christmas than the church,” he jokes as I meet him, just before kick off at The Boleyn Tavern outside West Ham’s home ground at

Upton Park. He sets up shop here to sell ribs at every one of the home games. “It’s turning into a proper match day tradition but here it’s not about smashing it – it’s all about being part of West Ham.” But smashing it he is, whether it’s at the Boleyn, Brick Lane or online. He even supplies his sauces to some of the most exciting restaurants in London including Tramshed, Hawksmoor and MEATliqour and counts among his fans Adam Richmam of Man v. Food fame. While Gevaux isn’t a trained chef and wouldn’t know what to do if you gave him a carrot, he knows a thing or two about meat. A butcher by trade, he has been carving up carcasses since the age of 12 and, from 2007, has been serving up meaty delights in markets around the capital. “Ribs are what I do best. As a butcher it was always the cut nobody wanted so we took them home each night; that’s how I know how to do them really well.” However, following a car accident in 1991 he had to give up the trade. “It mangled my leg and after a load of operations I couldn’t take it anymore so I asked them to take it off.” But

Here it’s not about smashing it, it’s about being part of West Ham sometimes you just have to stick to what you know. “I couldn’t sit about doing nothing; I’ve always worked. I thought: ‘I can’t be a butcher anymore but I can make ribs’.” They are cooked overnight in their own juices with a concoction of spices and served up in a bun, wrap or as a rack with your choice of sauce. We can say firsthand that the Rib Man’s ribs certainly aren’t called ‘the best in London’ for nothing. The meat, the sauce, the personality, the customer interaction – all of this adds up to make the Rib Man one of London’s most unique small businesses. Gevaux is singlehandedly maintaining his base at home, racking up fans worldwide – and there are no signs of letting up.

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19/11/2014 12:19

On The Record

Companies across the UK are pledging to help rebuild lives by giving another chance to reformed offenders

ould you hire a person with a criminal record? Does a person’s past and life experience determine whether you’d be prepared to welcome them into your business? Nine million people in the UK have some form of criminal conviction. Some are serious convictions and others just minor fines or cautions but ticking that box on a job application form can often diminish a suitably qualified individual’s chance of landing the job. “Offenders who find work on leaving prison are half as likely to re-offend so getting them into work is pivotal to rebuilding their lives,” says Jonathan Freeman, managing director of Mosaic, a charity set up by HRH the Prince of Wales as part of his Business in the Community charity. The cost of re-offending is estimated at £13bn per year and figures from the Ban the Box campaign show that if 5% of private companies in the UK removed the criminal record declaration box from their application and interview stage, one million new job roles could be available. This would enable exoffenders to support themselves in a stable job, easing the burden on the UK benefit system. “Whilst it is a brave commitment

On the record.indd 1

for a business to take on an individual who has a criminal record, it’s important that businesses step up and play this role in society. By training and developing these individuals, companies can effectively become a lifeline, turning someone’s life around and helping them to get back on track” Freeman adds.

9 million nine million people in the UK have some form of criminal conviction

PEOPLE

After his release from a two-year prison sentence, Duane Jackson, founder of Kashflow, struggled to find employment. He began freelancing in web development and whilst striving to make sense of the jargon that came with managing his own accounts, he coined one of the biggest household names in cloudbased bookkeeping. Jackson is in favour of helping ex-offenders rebuild their lives and has employed many within in his own business. He claims that when given a chance to rebuild their lives, ex-cons show a high degree of loyalty to their employer and therefore are committed to performing well. “A big part of it is that they feel they have got something to prove and because of that they work a lot harder,” Jackson suggests. A study by Working Links found that 70% of ex-offenders employed full time never go on to re-offend. Working Links operates Bad Boys’ Bakery inside HM Prison Brixton, a programme once led by the culinary bad boy himself, Gordon Ramsey, on his programme Gordon Behind Bars. More than 60 people with convictions have been part of the bakery and the tasty treats have been stocked in several of Caffè Nero’s coffee shops in London. Fellow chef Jamie Oliver has also employed former criminals and now runs an apprenticeship in his Fifteen restaurants to help troubled people focus their energy into catering. What’s more, the Ban the Box campaign saw 30 firms pledge their support with a

23/12/2014 19:53

PEOPLE

Offenders who find work on leaving prison are half as likely to reoffend so getting them into work is pivotal to rebuilding their lives Jonathan Freeman, Mosaic

On the record.indd 2

combined workforce of 200,000. Jill Miller, research adviser at CIPD feels that part of the prejudice towards hiring ex-offenders tends to be around personality traits rather than skills to do a job. The nature of the conviction is often not taken into consideration, many people commit crime in their youth and when in prison will go through a transitional period of rehabilitation and maturity. The classification of a criminal conviction upon application is often vague; while employers could worry that a serious crime was committed, it could be something much more minor. Miller points out that businesses are fundamentally changing cultures by hiring ex-offenders which she says involves a switch in mindset. Miller suggests that employers should “question prejudices and think about the potential of this under-tapped talent pool.” Of course certain convictions will inevitably hinder jobseekers’ access to certain roles. However, firms are increasingly more flexible in their policies. “Being in a regulated industry where we have to take references out on staff means we simply cannot employ anyone with severe criminal convictions,” says Lyndon Wood, creator and owner of business insurance company constructaquote. com. “However, we would accept those with maybe minor driving offences and people with

convictions from their youth.” The reality is that when it comes to it, people prefer to avoid hiring people with a criminal record, Jackson admits. Whilst harbouring good intentions, many employers would still avoid hiring a person with a criminal record. He suggests that ‘banning the box’ is not the solution to tackling prejudice; he instead proposes that a change in the law would be more efficient. Currently, if you have served a sentence of more than four years, that conviction is never spent and you will be required to declare it for the rest of your life. “A friend of mine was applying for jobs and one he got to the last stage and then they asked the question. He’s actually very honest so admitted it, then didn’t get the job and was sat to one side after quietly and told, ‘look you would have got the job if you didn’t declare it,’” recalls Jackson. His friend later applied for a job where he didn’t declare his conviction and is now the company’s IT director, one level away from the board. When he joins the board, the company is required to do a background check that will see him lose his position at the company where he has worked for eight years. It’s clear that a change in perspective is needed and employees should be judged on a case-by-case basis. If they are capable to do the job and exceedingly perform, what does it matter what their conviction was?

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01/07/2014 20:46

PEOPLE

Bridging the gap

WORDS: RYAN MCCHRYSTAL

t’s been 46 years since women workers at Much Ford’s factory in Dagenham downed tools and more marched to Westminster to demand equal needs to pay rights. Their jobs – sewing seats and making be done to upholstery for cars – were deemed ‘unskilled’ but, quite rightly, the women wouldn’t take this lying tackle the gender down: they walked out, eventually halting production. pay gap. Total This, along with similar actions at the time by other female workers, culminated in the introduction of the transparency in salaries Equal Pay act of 1970, which ruled that no woman should may give things a nudge in be paid less than a man for doing the same job. when those Ford sewing machinists went on strike the right direction in Back 1968, women were paid an average of £0.64 for every £1

bridging the gap.indd 1

a man made. Now in modern-day 2014, you might assume we’re all square – but it’s not quite like that. More than 40 years after the introduction of equal pay legislation, women still only make an average of £0.81 for every quid that men make. Despite what some would have you believe, this is quite a significant gap and, while it is closing, it isn’t closing quickly enough. Without drastic measures, it could be a long time before we see anything close to equilibrium.

There are many reasons that culminate to create that pay gap. First and foremost, the route to progression is essentially blocked. Dr Alison Parken, research partner of the Women Adding Value to the Economy (WAVE) Programme, says: “Well-paid work is full-time work, and in Wales, for example, men hold two-thirds of those positions, whereas women occupy 80% of all part-time jobs, which are lowskilled, low-paid and have very little routes out.” “Various forms of gender segregation combine meaning we will have gender pay gaps forever unless we do something about the employment structure,” she adds. WAVE has developed a tool called the Equal Pay Barometer, which allows people in Wales to search for the average salary for men and women across 300 different jobs and highlights any gender pay gaps that may exist. The equalities act of 2010, introduced in the dying days of the previous Labour government, included section 78, which required companies to be transparent about the gap between male and female

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28/11/2014 10:46

PEOPLE

This will continue as long as salaries are kept secret and ancient discrepancies in what people are paid are carried forward by employers, even unwittingly

pay. But when the current government came to power section 78 was never enacted. Instead it was decided not to force companies to act but to wait for them to do so voluntarily, and very few have obliged. For Peter Burgess, MD at Retail Human Resources, the UK’s largest recruitment company specialising in the retail sector, this is a major barrier to pay equality. “The problem is that this will continue as long as salaries are kept secret and ancient discrepancies in what people are paid are carried forward by employers, even unwittingly. The only way to sort this issue out is for salary policies to be open,” he says. “Sadly in the private sector almost all companies have a culture of secrecy around who is paid what and until that changes this problem will not go away.” Internally, Retail Human Resources has had a transparent policy on salaries for two decades. “It builds trust and respect and ensures that people are not, unwittingly, treated unfairly,” he says, which is partly the reason why Retail Human Resources was recently listed in The Sunday Times 100 Best MidSized Companies to Work For and has also received 3-star accreditation for ‘extraordinary’ workplace engagement. Professor Jill Rubery of the Manchester Business School, whose research work and publications have covered, amongst other topics, labour

bridging the gap.indd 2

market regulation policies, women’s employment and women’s pay, agrees action must be taken. But, for her, the onus is solely on employers. “In improving women’s pay, we’re really swimming against the tide because, with the nature of the labour market in the UK, there is even wage disparity among people that have had higher education,” she says. The highest paid jobs tend to be those that are still “colonised” by men such as the financial sector, says Rubery. In her view, companies have a duty to comply. However, even getting women into these positions won’t be enough because the highest levels of inequality actually exist not within ‘traditional’ female roles but at the director level, where men take home on average 35% (£21,000) more than females. The overall average for full-time work is around 10%. Lynne Stephen, director at recruitment expert, Maxwell Bruce, has forged a prosperous career in the recruitment industry over the last nine years. The gender pay gap is a topic close to her heart. For her, inequality between men and women’s pay is made even more unpalatable given the introduction of child care,

shared parental leave and flexible working, women are more able to contribute to the same level as their male counterparts. Stephen doesn’t necessarily think that companies are deliberately underpaying women; more that men are more likely to ask for more money and more benefits. Similarly, she has noticed a tendency for women to only apply for a role if they tick every box on the job specification, while men appear bolder and will apply if they meet only two thirds of the criteria. “It comes down to confidence,” says Stephen. “When in a role as a woman, you can find yourself in two very different situations: you want more money because you feel you deserve it or you want it because your colleague doing the same job earns more,” she says. If it’s because there is a pay discrepancy, something that she finds completely unacceptable, it must be addressed directly, which can be difficult given the confidential nature of salaries. Her advice in this situation that an employee should get clued up on their rights and take the first step and arrange an informal meeting with their line manager. “You may be surprised at the initial reaction and, if it’s justified, you may walk away with higher pay

23/12/2014 19:55

PEOPLE

There is still quite a significant gap and, while it is closing, it isn’t closing quick enough and an apology.” Stephen advocates thorough preparation as crucial before taking part in any discussions on remuneration – informal or otherwise. Similarly, Ishreen Bradley, an executive coach who specialises in coaching senior women in high-innovation sectors like engineering and design, finance, IT and logistics, says women are often nervous about speaking out. “Women don’t want to be seen to be too demanding and some may even be fearful that doing so could threaten their career prospects. Yet failing to speak up could be costing them several hundred thousand pounds over their careers,” she says. Discussing a salary rise gives someone the opportunity to highlight how they are contributing to the business and the skills they have, something that in large organisations many managers will not necessarily notice

bridging the gap.indd 3

unless they are told. “Women need to highlight their strengths in the workplace and do their own PR, something that can come more easily to men than women. But most importantly, they need to take responsibility for what they are paid and think about what action can be taken to close the gap and to be paid the same as men for the same job,” says Bradley. When it comes to addressing the pay gap, Stephen believes that SMEs have a role to play also. They can take action on a number of fronts, and that it doesn’t all come down to throwing cash at the issue. “Ultimately, SMEs all want costs to be as low as possible; however, it must never be at the expense of someone’s salary.” Employees must know their value and paying one more than another for doing the same work is never acceptable, she believes. Again the solution comes down to transparency. “Being more open and clear goes a long way towards reassuring employees that

they’re being rewarded appropriately.” The introduction of visible pay bands, as well as keeping a tight schedule of pay reviews – and sticking to it – would be a great leap forward, Stephen suggests. Additionally, men could act as the greatest ally of working women. “The majority of board and senior management positions are held by men so, in short, we need the help of men to tackle the overarching issue,” urges Stephen. “They need to help drive change in the workplace. We must also educate youngsters to ensure they are aware that no job is out of their league and that equality is the right thing, as well as everyone’s right.” Like those Ford workers in Dagenham all those years ago, women who feel they aren’t been treated fairly need to step up. However, businesses should know they have a role to play as well in order to make sure that women and men are paid fairly and equally for the jobs they do.

23/12/2014 19:55

01242 650 606 www.rybo.co.uk info@rybo.co.uk @RYBOnline

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23/12/2014 21:00

PEOPLE

Why It’s Important To Not Take Yourself

Seriously Even as the boss, it’s important to show your human side. Laughter has all kinds of business benefits, says Lyndsey Simpson

Curve Group.indd 1

o, you’re the leader. You need to set an example for others to follow. As such, you make sure you’re the first one in the office, you demonstrate how best to act with customers so your teams can follow suit and, importantly, you set the tone for what is acceptable around here. All too often though, the weight of this responsibility can mean that even the most fun and edgy entrepreneur from the start-up days, starts to become corporate and serious as your business becomes larger. My advice? Do precisely the opposite and regress as far as formality goes, the larger you become. The joy of owning your own business is that YOU set the rules. You don’t have to dance to the sound of someone else’s drum and, as such, can show your employees why it’s fabulous to work in such a liberating, entrepreneurial environment and demonstrate why your customers want to do business with your company, rather than your larger, more homogenous competitors. Within my own business, The Curve Group, the biggest question I was asked by our employees when we tipped over the £10m turnover point and shared our plans for world domination was “how will we remain ‘Curvy’

as we continue to grow at such a rate?” We reassured them of our intentions, shared plans of initiatives we were investing in to secure our Curvy culture but the question still kept coming. Until we decided to stop talking and start demonstrating what we meant. Cue our superhero alter egos. My business partners – Della Wolfe (aka Mrs Incredible) and Jeanette Ramsden (aka Super Girl) – and I (aka Wonder Woman), combined forces at our company-wide conference. We set aside our fears of looking like total plonkers and donned our superhero outfits. We highfived everyone as we arrived and if anyone was in any doubt about our intention to keep our

By thinking that we don’t take business and our responsibilities incredibly seriously, as we do

23/12/2014 20:41

PEOPLE

The CAPE bit is simple (and by the way was invented by the team) and stands for:

Create Relationships Realise Be

Ambitions Passionate Explore Possibilities

Curvy culture strong, it disappeared as we were prepared to not take ourselves seriously. Now please don’t misinterpret this by thinking that we don’t take business and our responsibilities incredibly seriously, as we do. But we really wanted to show our teams that being bigger actually allows us to spread the #Curvyway of doing things and allows us to impact more peoples’ lives, be superheroes for more customers and continue to keep the fun and personality well and truly alive. So you’ve set the tone and demonstrated that it’s ok to laugh around here. Then what? Then you need to give your teams the tools and the unconditional support to bring to life your culture in a bottom-up way that you can’t possibly do from the top. One of our tools was to launch our CAPE behaviours – these provide structure around what it means to be a Curvy superhero but it is also the exact same structure that we base our client solutions around too. All we asked was a simple question: how are you going to wear your CAPE every day? And the result was, and continues to be, quite simply humbling. By us asking one question, then completely stepping away from the actions, we have emails celebrating success and sharing how colleagues wore their CAPE that day, we have the CAPE awards and we have a self-styled Marvel team that run with fun initiatives across the company that change every week. The list goes on and on and I couldn’t as a leader believe how they have taken the baton and run with it just because we demonstrated that firstly it was OK to keep laughing and secondly our culture is now in their hands to protect and shape.

Curve Group.indd 2

If you’re thinking that this is all well and good but only about one company, let me leave you with my five final thoughts that come up in research as to why it’s important that you don’t take yourself too seriously and you make your teams laugh:

Laughter dissolves distressing emotions and is proven to reduce levels of stress hormones like cortisol and epinephrine

Laughing allows groups to bond together, work as a group better and act more generously towards each other

Laughter helps you relax and recharge. It increases energy, enabling you to stay focused and accomplish more

Laughter is authentic. Sure, you can fake a smile. And maybe a chuckle. But not a proper belly-laugh

Laughter attracts people – employees and customers to your business

So, if you are looking for a new 2015 New Year’s resolution – why not resolve to go the whole year without taking yourself too seriously and see what it brings for your business and its culture.

23/12/2014 20:41

EliteBusinessOctober2014.indd 1

30/09/2014 14:27

TECHNOLOGY

In 2014, we got our first glimpse of a bona fide hoverboard, WhatsApp sold for a fee that would make even Bill Gates’ eyes water and finally the much discussed Apple Watch went from rumour to reality. But we’re already convinced that this year’s going to be even better. Don’t believe us? Read on Mondaine Helvetica No1 Unsure what to buy your typography-obsessed partner? How about a watch inspired by one of the most popular fonts of the last 50 years? This gorgeous timepiece from Swiss manufacturer Mondaine translates the neutralism embodied by the classic sans-serif typeface into its clear and uncluttered design. Mimicking three of the font’s four original weights, the Mondaine Helvetica comes in light, regular and bold and contains some nice hidden nods to its inspiration, such as lugs inspired by Helvetica’s distinctive number one.

WORDS: JOSH RUSSELL

Zeiss VR One

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After Oculus teamed up with Samsung to create the Gear VR, the budget option Rift powered by your Galaxy Note 4, there were undoubtedly quite a few pouty faces unhappy that they couldn’t use it with their phone. Fortunately, the Zeiss VR One is designed to be a manufacturer agnostic virtual reality headset. The catch? Phones are held in place with custom trays designed to fit the handset and currently it only supports the Samsung Galaxy S5 or the iPhone 6. More are on the way but it may be a while before your handset is one of those supported.

23/12/2014 19:56

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23/12/2014 20:23

TECHNOLOGY

Foldio 2 For any start-up with physical merchandise to sell, taking product shots is a necessary evil. However, obtaining professional results without spending a fortune is tricky to achieve. Foldio solved that problem, offering a foldable, portable studio that allows start-ups to capture excellent product shots with minimal hassle. Now in its second generation, Foldio 2 is twice as big as its predecessor, has brighter LED lighting and comes with a dedicated app helping to tweak shots after they’re captured.

Flic 79

With the internet of things marching ever closer, finding ways to pimp your home has never been more important. Flic is a smart button that can be set a multitude of different functions, coming with three assignable clicks. Want to pause your music and ring your beau? Dim your lights and set a movie playing? Send a distress message if you fall in the shower? Flic can do it all and, as its developers are working with other apps and services to expand its reach, soon you’ll be controlling all your services with a single click.

aerelight Dubbed ‘the world’s first OLED light’, aerelight is a razor-thin lamp that also comes with the benefit of being energy efficient whilst kicking out 1,000lx of super bright light – about twice the brightness of the average office. But its tricks don’t stop there; its frame is also touch capacitive, meaning it can be dimmed or flicked off with a single tap, whilst its base acts as a wireless charging pad for compatible devices. But one slight caveat is that aerelight don’t come cheap; at $239 (£152) this skinny lamp isn’t the choice for those with similarly skinny wallets.

The hot list.indd 2

23/12/2014 19:56

TECHNOLOGY

Golden

Opportunity 81

Turning the Golden Triangle – the region between Cambridge, Oxford and London – into a cluster rivalling Silicon Valley may seem like a tall order. But, given the resources on hand, it may not be as hard as it sounds

WORDS: jOSH RUSSELL

lot of attention has been paid in recent times to creating Silicon Valley. “We’ve got certainly the breadth and depth and we’ve effective tech clusters. Certainly one of the reasons Silicon definitely got the scale,” he continues. One thing that can be said without a doubt is that Britain’s got talent. Valley has proven to be such a powerful generator of global tech “We’ve got brilliant universities,” says Neil Crockett, CEO of Digital firms is the sheer quantity of resources focused in a comparatively small Catapult, a national centre aimed at advancing the UK’s best digital area. Perhaps the UK’s best bet for creating an equivalent cluster is the Golden Triangle – the area between Cambridge, Oxford and London. ideas. Just in terms of raw R&D, it’s hard to overestimate the respect But how can the UK go about transforming the region into a cluster that the UK commands on the international stage. And whilst the Golden Triangle is far from the only source of this innovation, its universities can rival the Valley? It’s important to recognise that whilst Silicon Valley is still the and innovation parks do have a sheer momentum that makes the region a force to be reckoned with. “Universities are the source of a lot of our undisputed king of tech, the UK has a remarkable concentration of resources that speak for its potential. “We have certain advantages over innovation,” he explains. “Oxford, Cambridge and all of the universities Silicon Valley and certain disadvantages,” within London make a fantastic Golden Triangle of talent.” says David Cleevely, co-founder and Places like Cambridge or However, clearly the output of the UK’s prechairman of Cambridge Wireless, the Oxford would achieve an even eminent redbricks alone aren’t enough to produce wireless technology industry network, and co-author of the recent report Connect tech giants like Silicon Valley’s Facebook, greater scale if they were less global Google and Apple. Just as important is the wealth People Build Infrastructure Grow Clusters, siloed which identifies some of the key challenges of commercial expertise clustered in the M4 corridor coming from American firms like Oracle involved in creating a cluster in the region. David Cleevely, Cambridge Wireless The Golden Triangle doesn’t have the and Microsoft and the finance, marketing skills maturity of Silicon Valley, an ecosystem that has been developing and and creativity springing forth from various communities in London. “You need to harness those commercial skills, as well as the technical evolving for more than half a century. But Cleevely notes that just in skills that are coming out of Oxford and Cambridge,” explains Richard terms of density the region has more ICT workers than the whole of

Golden Triangle.indd 1

23/12/2014 19:57

TECHNOLOGY

You can’t manufacture a cluster; all you can do is create the environment that enables one to form better Neil Crockett, CEO of Digital Catapult

Marsh, partner at DFJ Esprit, the venture capital firm. Given the raw materials on offer, it seems that with the Golden Triangle the UK could create a world class tech cluster but before getting ahead of ourselves it’s worth questioning what this actually means. Crockett feels that often in our haste to ‘create’ new digital ecosystems, we tend to run roughshod over existing developments and fail to work with the resources that have already developed. “You can’t manufacture a cluster,” he says. “All you can do is create the environment that enables one to form better.” Getting our heads around how best to facilitate this requires an understanding of what actually makes truly effective clusters tick. “You’ve got to create an intensity,” Crockett explains. A useful analogy can be borrowed from the world of nuclear physics, where a critical mass of a radioactive material has to be brought together to create the intensity required for a chain reaction to take place. Put simply, the Golden Triangle needs a certain density of resources and interactions before the UK can see the runaway successes experienced in Silicon Valley. And the UK isn’t lacking in evidence that this can be achieved. Earlier in his career, Marsh spent more than a decade developing a software company in Cambridge, where he feels that on a local level this critical mass had already been reached. “Everyone was in such close proximity to each other that this in itself had a big effect,” he says. “It’s almost microproximity; it’s being across the corridor from someone else, being in the same building.” This is one reason he feels that the city has

Golden Triangle.indd 2

achieved such stellar results; the high valuation placed on a company like Autonomy, which was acquired by Hewlett-Packard in 2011 for $11.7bn, shows the enormous potential of the Golden Triangle if this intensity can be reached on a larger geographic scale. One of the main problems to tackle in the region if it is to become a cluster with the same potential as Silicon Valley is the high level of siloisation. Whilst the Golden Triangle contains many centres of excellence in their own right, breaking down the barriers between them would have a huge transformative effect on the region as a whole. “Places like Cambridge or Oxford would actually achieve an even greater scale if they were less siloed,” Cleevely says. This is one reason that Connect People Build Infrastructure Grow Clusters focuses so strongly on transport links. “What you need is the transport links that allow you to have the interactions to create that density,” Cleevely says. “You need to be able to get from one place to another in less than an hour.” By cutting journey times for each side of the triangle down to 40 minutes and creating special carriages that act as rolling meeting rooms, the report’s authors believe that a greater intensity

of interactions can be achieved. Of course, for the UK to create a regional cluster that can deliver the same sort of output as Silicon Valley, it will take some time. But, by creating the right conditions now, a virtuous circle can be formed. Gradually the more successes the region produces, the more of a trickle down of resources it will create, ensuring there is more finance and expertise available for the next generation of start-ups. “It’s the people who carry the experience and then take that into multiple companies,” concludes Marsh. “That is actually how you get to the critical mass.”

23/12/2014 19:57

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28/11/2014 11:09

TECHNOLOGY

Future gazing It can be hard to stay abreast of technological developments as a small business. Look no further for a run-down of the top tech for SMES in 2015

It’s been quite the year for technology: wearable tech finally came of age, Amazon ramped up trials of drones for deliveries, and Google announced plans for its driverless cars. But whilst these gadgets and gizmos fill the column inches of our favourite magazines, they’re largely irrelevant to the majority of the nation’s small businesses. We have spoken to those in the know about the most important tech trends to affect the nation’s small and medium sized companies in 2015.

WORDS: HANNAH PREVETT

1 Tech tips.indd 1

Email Management

Many nifty tools have emerged to help us take care of bulging inboxes which means freeing you lot up to do the important things – like running your businesses. Elite Business former cover star Kathryn Parsons stopped using email altogether as an experiment in autumn last year. But for those not willing to kiss goodbye to Outlook or gmail forever, there are other solutions. “We love Fantoo, which aims to rescue people from cluttered inboxes,” says Luke Lang, cofounder of online crowdfunding platform Crowdcube. “It’s an email management system that uses artificial intelligence to sort your messages – it ‘learns’ the way you like to work and organise your emails and automatically categorises them as they come in, displaying them as a tapestry of pictures. You can instantly see what’s most important, which saves time and brings a welcome element of control to today’s rampant inboxes.” Groovy.

Video Content

We’ve all heard the phrase ‘content is king’. Customers aren’t likely to respond to bullish sales techniques but may well be turned on by relevant, timely content. That might look like blogs, it might be picture slideshows and increasingly it’s video. “Though it’s a newer form of communication, video content is becoming one of the most engaging methods used by businesses,” says Lyndon Wood, founder of constructaquote.com. “Most businesses go wrong by using platforms that essentially direct visitors away from their site. This means that not only is the user experience suffering but it can also be of detriment to the site’s SEO standing.” “Many platforms are designed for SEO purposes, such as Wistia, meaning that your visitors don’t have to leave your site to digest your visual content; you can imbed videos directly to your site. As a platform, Wistia also provides usable analytics that will show exactly when your visitors are tuning out and what parts of the video are the most engaging. This, therefore, helps business to repeat their winning strategies, whilst letting their less engaging ideas slide.”

23/12/2014 19:58

TECHNOLOGY

Data Analytics

Once the domain of only the biggest of companies, data analytics is increasingly becoming more relevant to an SME audience. This is partially down to the fact that it’s much simpler, says Darren Fell, MD and founder of Crunch Accounting. “Bitesize data analysis and consumption – especially for business intelligence services – seems to have become incredibly popular and increasingly useful in the last year. If 2014 was the year of Big Data, then 2015 will be the year of Useful Small Data, when we start to see people delivering on the promise of analysis of huge datasets accessible by all,” he explains. “I’m particularly interested in data that can be understood and responded to by people who don’t have a PhD in statistical analysis. We run our business on data but huge pivot tables are rather clunky tools and we’re excited to see more user-friendly services coming to market. For example there is a great service called Brief Metrics, which bundles up all of your Google Analytics data into a single, easily digested email – this is just the tip of the iceberg for these kinds of services.”

Most of us use cloud technology without thinking about it too much. Shunning Microsoft Office for Google Drive is the first stop on the road to becoming a fully paid-up member of the cloud-enabled club. “Cloud has been a buzzword over the last few years but any entrepreneur who runs their business on the go is heavily indebted to it,” explains Rich Preece, VP and UK country manager at Intuit. “We think it will continue to have a major impact as new applications and services are launched and as more start-ups take advantage of existing cloud technology.” Start-ups are particularly enamoured with cloudbased financial management software, says Preece, with the International Data Association claiming that 50% of SMEs will be using the cloud to do their accounts by 2016. Benefits include increased efficiency, high availability and reduced costs. What’s not to like?

And for after hours...

Subscriptions

This will be the year that people stop owning things, reckons Tien Tzuo, co-founder and CEO of Zuora, a cloud technology company. “In 2015, consumers will prefer access over ownership. They will demand the flexibility and personalisation that subscription services provide, as opposed to one-off purchases,” he explains. There are a ton of case studies showing that this approach to business works. “Companies like Zipcar, Spotify and Netflix have realised this and offer customers a completely new experience of accessing the goods and services they want, when they want them, and wherever they are. These companies have built their business model around engaging in ongoing relationships that provide value to their consumers, instead of selling products to strangers in isolated transactions,” says Tzuo. And they are not alone. “Research by The Economist Intelligence Unit has found that 51% of organisations are integrating new delivery models such as subscriptions, sharing, and rental goods and services. Of those, 40% are implementing subscription services as part of their core business. It will not take long for the remaining 60% to sit up and take notice. Subscription business models will be impossible to ignore in 2015,” he claims.

Tech tips.indd 2

Cloud

Lang has certainly bought into the subscription model – when it comes to beer, at least. “Another essential for any start-up, we think, is the DeskBeers website. You subscribe, and they deliver quality craft beers to your office. Every start-up needs a happy team and what better way to achieve that than to put a beer on everyone’s desk at the end of another busy week?”

23/12/2014 19:58

SIMPLE LAW FOR SMALL COMPANIES

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31/10/2014 20:05

LEGAL

RED tape TANGLES Small businesses in the UK are drowning in a sea of EU regulations. How can the burden be lifted?

WORDS: jade saunders

red tape.indd 1

n the last year alone, 1,139 EU regulations have been introduced to the UK. Some of these include new rules on how to make smokeflavoured food and those that set out when gin can be called ‘dry'. Open Europe, an independent think tank, estimates that the top EU laws cost the UK economy £27.4bn a year – which is higher than the estimated amount raised from the UK council tax bill. While most EU regulations strive to set a high standard for all businesses and serve to protect vulnerable employees and consumers, many argue that the cost of compliance with regulation often outweighs the benefits to the UK economy. The burden is often felt the most by smaller companies: a recent study by KPMG found that a third of SME decision-makers spend more than one day a week tackling admin and red tape. “The challenge that the UK government faces, almost as an ambassador for small businesses in the UK, is trying to simplify what comes across from Brussels, in order that businesses – especially small businesses in the UK – that don’t necessarily have big complicated finance and HR departments, know how to consume all of these changes,” says John Coldicutt, CMO of Iris Software. IRIS software works with 55% of the accountants in the UK, which means its software often needs to be updated in order to comply with new legislation. It serves not just to support accountants but also small businesses that run their payroll systems with IRIS software, which is compliant with the Real Time Information (RTI) legislation that was introduced last April. Coldicutt says Iris has to stay ahead of new legislation in order to support its colossal clientele. “The more the UK government can do to throttle back the changes it’s making in compliance and the more it can do to influence some of the changes coming from Brussels the better because it allows small businesses to focus on what they do best and it allows their accountants to help them to grow rather than spend all of their time trying to make sense of the changes in legislation,” he says.

There are

28 EU countries with

different VAT rates

23/12/2014 20:15

LEGAL

Coming down the pipeline

One of the latest European regulations to be enforced in the UK is the new EU VAT regulation, which officially came into effect on 1 January, 2015. Say goodbye to tax avoidance, as has been accused of the likes of Amazon and Starbucks, and hello to hundreds of thousands of struggling SMEs. The new VAT legislation aims to tackle tax dodgers, yet however heroic the rule will prove, small business owners may be martyred for the greater good. There will no longer be the Luxembourg loophole for major tech companies to exploit to their hearts' content; the EU Treaty has spoken and has scrapped the previous VAT rule which saw companies only pay the VAT rate of the country the business was registered in. Now, businesses that sell electronic products and digital services within the EU will pay the VAT rate of their customers' home country and, by selling to EU customers, will forfeit their UK VAT free allowance therefore subsequently paying an extra 20% VAT. The current tax-free allowance applies to merchants selling under £81,000 of goods, however if they sell to just one or two customers within the EU, this allowance is sacrificed. SMEs have two choices: comply with new legislation and see profits taxed at different rates or refuse to sell to EU member countries, which comes with a whole host of anti-discrimination laws. Small businesses will now have to register for VAT in the countries they sell to; there are 28 EU countries with 75 different VAT rates. HMRC has introduced a handy system called a VAT Mini One Stop Shop (VAT MOSS) that enables businesses to register for all of the EU countries on a quarterly basis. For some of the smallest UK businesses, it is yet another legislation that will require more time and attention from their already limited staff and resources. With some entrepreneurs letting the legislation kill their vibe, others are leveraging the change. Taxamo, a real-time software-as-a-service (SaaS) company, has developed a unique tool to help companies comply with the EU VAT rule. The new software enables merchants to outsource the hassle of registering for each EU VAT rate and trust in Taxamo to identify each customers location and pay VAT accordingly, a necessary compliance that is challenging for businesses that often only have an email address to identify a customer. To go it alone, businesses would have to request more details from their customers which makes the customer journey longer and confusing. “We changed our pricing to accommodate those really small guys; the UK Treasury can attract more revenue from the likes of Amazon and iTunes ... it’s not all negative really, [the new EU VAT Rule] would need to happen otherwise the big guys would just go to Luxembourg and it would be unfair competition between the small guys in the UK because they would be selling to the same market and none of that money will be going to the UK tax authority,” concludes John McCarthy, CEO of Taxamo.

The top EU laws cost the UK economy

£27.4bn a year

In the last year alone

1,139

EU regulations have been introduced to the UK

The current tax-free allowence applies to merchants selling under

£81,000 of goods

A recent study by KPMG found that a third of SME decision-makers spend more than one day a week tackling admin and red tape

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23/12/2014 20:49

classifieds Bookkeeping

Accountancy

We provide bookkeeping using xero, kashflow, sage, freeagent, quickbooks and clearbooks. We provide vat returns, profit & loss reports, payroll and credit control etc to businesses from only £50pm. We are an award winning business, with over 20 bookkeepers around the UK. We work with over 150 clients across 100 industries and over 100 accountants on our clients’ behalf.

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ICAEW’s Business Advice Service offers a free, straightforward discussion with an ICAEW Chartered Accountant. There’s no obligation after your first free session, just practical thinking to help your business succeed.

We specialise in cloud bookkeeping and online business systems that will help streamline your business to improve efficiency and make more money. From the taxing issues of bookkeeping and filing VAT returns, to the pressured and meticulous payroll process, we see the big business opportunities in even the smallest operations. We provide powerful online business systems that link seamlessly with Xero to cut down on data input, increase productivity, and leave you to continue doing what you love.

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Branding

Business Coaching

Specialising in marketing communications, 1st Transnational operate a quick and highly accurate translation service to international companies. With a strong team able to assist with legal, financial, medical and technical work in a variety of industries across multiple languages. With a completely confidential service and personal liability insurance, 1st Transnational are the translation experts you can trust. All services can be viewed on the website or for further information call on 020 7329 5003 and speak to one of the expert advisors.

Providers of transcription services which offer the speedy and reliable end result businesses of all sizes require. Take Note Typing offer a professional transcription service to help quickly and efficiently compile a written report from audio. There are three different levels of service; a full transcription with every false start and repetition, a summary transcript which incorporates all key points but omits non relevant spoken words and a ‘notes and quotes’ service whereby the majority is summarised.

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t: 0207 928 1048 e: bookings@takenotetyping.com w: www.takenotetyping.com

Commercial Finance

In the new financial world beyond the ‘credit crunch’ many businesses are faced with fewer funding options. At White Rose Finance we manage senior level relationships with over 250 alternative lenders. Our range of funding services: Construction & Development Finance; Commercial Mortgages & Commercial Property Acquisition or Re-finance; Trading Business Acquisition & Re-finance; Asset Finance; Leasing & HP; Factoring & Cash flow Support; Business Loans – Secured & Unsecured; Short Term Bridging Loans; Enterprise Scheme (EFGS) Loans; Regional Grant Funding.

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Bespoke Coaching Programmes designed to help our clients to focus on achieving their personal, professional and business goals. Use the Power of Focus to achieve your entrepreneurial goals and enhance your business performance. For your free initial coaching session please call Raj Nahar.

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Need help talking to your customers? Chillifish provides marketing solutions across traditional and online media to help you communicate your message consistently. From brochures, adverts and direct mail campaigns to websites and email marketing campaigns, we create intelligent, effective and innovative communication solutions that make your brand shout louder. Whatever your requirements, big or small, call us today.

t: 0755 751 6996 e: info@abergower.com w: www.abergower.com Franchise Opportunity

As a leading name in the renewable energy industry, SolarTech are renowned for their expert design, installation and maintenance of renewable energy systems. Offering a professional and personal approach, the SolarTech team design renewable energy solutions that are specifically constructed to suit the needs of individual customers, providing bespoke solutions that are both sustainable and cost effective. With a large workforce comprising of highly skilled installation engineers, all of whom are CRB checked and fully trained in their specialist areas, SolarTech operate across the UK.

Set up your own home based bookkeeping practice with an award winning bookkeeping franchise. Join over 20 franchisees offering bookkeeping to businesses using cloud software such as xero, kashflow and sage. We provide vat returns, profit & loss, payroll and credit control etc from only £50pm. No qualifications are needed as full training is given. Franchise fee £15,000 plus vat.

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t: 01305 250055 e: info@chillifish.com w: www.chillifish.com Hardware & Software

Offering a wide range of computer equipment and repair services to meet your business needs and maintain full function. Fierce PC are specialists in the computer industry with years of experience in providing businesses with bespoke built PCs designed to meet clients’ specifications. A wide range of customisations are available, allowing Fierce PCs’ expert system builders to deliver custom computers which work efficiently for your business. A trusted repair service is also available for existing models to restore full function.

t: 01706 214 233 e: sales@fiercepc.co.uk w: www.fiercepc.co.uk

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classifieds Insurance

Offering professional indemnity insurance policies for businesses in a quick, easy and stress free manner. Cavendish Munro are an established indemnity insurance broker with head offices in The City, London’s centre for insurance. The client is always put first with Cavendish Munro and a suitable policy is provided based upon individual requirements and circumstance. Whilst professional indemnity insurance is vital for all businesses, the process of acquiring it shouldn’t be; which is a key goal for Cavendish Munro. The aim is to keep this process as simple and straightforward as possible, therefore avoiding the use of complex, industry related jargon and offering clear forms to fill in to purchase the required insurance quickly and hassle free.

t: 020 7264 0545 e: enquiries@cavendishmunro.com w: www.cavendishmunro.com

FLEXIBLE, ALWAYS-ON, COST-EFFECTIVE, RESPONSIVE IT: • Secure, high-uptime colocation data centres • Server, cloud and DR infrastructure capacity • Highly reliable Internet access and Ethernet leased lines • Expert advice and management with 24/7 support

Invoice Factoring

The Credit Management Bureau’s mission is to save you money and help you grow by getting you on the right commercial funding package to suit your business. We find you the right specialist commercial funding providers who will get you the best package tailored to your needs. Be it Invoice Factoring, Discounting, or any other type of asset based finance, we can get the right people in front of you; including your own personal business manager. Call us today to arrange your free business funding review.

Atkins Solutions Ltd provides quality, but personal IT Services around the UK and World. We make sure that you get a quality, personal and professional service 24 hours a day. Atkins Solutions Ltd offers a consultancy service that brings a new approach to a client’s IT system, exploring the range of solutions available to contribute to a business’s success.

t: 01684 569262 e: factoring@creditmanagement.biz w: www.creditmanagement.biz

t: 01274 669512 e: info@atkins-solutions.co.uk w: www.atkins-solutions.co.uk

Providing a comprehensive selection of IT and telecommunication solutions which are bespoke to each company’s needs. The IT Group-UK offer a range of services in the field of IT and telecommunications with experts in electronics and electrical engineering. Working with companies including law firms and accountants, IT Group-UK provide a consultancy service to assist with all aspects of IT including design, planning, business process reviews and data recovery.

A leading IT support company for London based businesses, offering a variety of services to meet specific needs. All types of business and a wide variety of systems are catered for thanks to the vast experience of the team at a client’s disposal and, with speedy onsite response time, an issue can be resolved in no time at all. Alongside the support services, Premier Computer Support also provide a number of bespoke managed services which enable a company to outsource the management of a complete IT infrastructure so confidence can be taken in the fact that a whole system is always in safe hands.

Why not contact us for a consultation on your next project?

t: 020 33 68 68 48 e: sales@connetu.com w: www.connetu.com Logistics

IT Support

t: 0845 226 0331 e: enquiries@itgroup-uk.com w: www.itgroup-uk.com

t: 020 7345 5139 e: enquiries@prem.co.uk w: www.prem.co.uk

Marketing

Established 14 years ago, SHS Handling Solutions offer a huge range of handling and workplace products. As recognised suppliers of high quality materials, the company offer an unrivalled approach to customer service, always going the extra mile to source the specific products, even if they’re not currently available on the website. Providing endless solutions for the workplace, SHS Handling offer a fast and efficient delivery service across the UK as well as providing on-site servicing for a range of products.

Providing bespoke promotional items for your company, allowing you to take control of marketing campaigns and provide branded items for customers. Boasting over 20 years of experience in the industry, Promotional Plus offer the highest quality products that are available for you to design to suit your business. Some of the branded products stocked include stationery, key rings, banners and stands, watches, crystal ware and much more. These products can be branded with the option to use your company colours, logo or any other images you wish.

Providing a complete digital package for small businesses in the UK including web design, SEO, pay per click and social media. As leaders in the field of web design and SEO, Creare have built a solid reputation over the years, working with a number of small businesses across a variety of industries. With customer service at the forefront, a talented team of web designers and digital marketers will work closely with you throughout your journey to ensure a suitable and sustainable solution is implemented.

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t: 01380 715470 e: sales@promotionalgifts.com w: www.promotionalgifts.com

t: 0800 012 5923 e: info@creare.co.uk w: www.creare.co.uk

Printing

Offering a wide range of printing services from envelopes through to display stands to meet your business needs. A long established, family run business, Envoprint offer a reliable and quick printing service to companies within the commercial sector. From envelopes to display stands, point of sale displays and presentation boxes, you’ll find a cost effective service that sees you supplied with products of the very highest quality. From the company’s formation in 1990, their skill set and services have extended over the years from specialist trade envelope printers to now be able to meet an abundance of printing and display needs.

t: 01246 561 506 e: keith@envoprint.co.uk w: www.envoprint.co.uk

Classifieds Jan15.indd 2

Promotional items

Fob keyrings make it easier for your customers to contact you. Go to our website to request our FREE sample pack, so you can see for yourself how effective these can be. www.fobkeyrings.co.uk We offer FREE artwork, printed double sided, in full colour, with FREE delivery. x250 fob keyrings only £59 x500 fob keyrings only £95 x1000 fob keyrings only £145 An affordable way to stay in front of your customers. Go online now and request our FREE sample pack.

t: 0777 6287 501 e: info@fobkeyrings.co.uk w: www.fobkeyrings.co.uk

Recruitment

Launched in 2008, eRecruit Solutions offer an innovative and revolutionary recruitment model that makes it easier to find the right candidates for any available position. By providing a shortlist of the most relevant candidates, businesses can cut the time and costs associated with trawling through large numbers of CVs and be pointed in the direction of the most suitable people for the job instantly. Utilising an experienced team of recruitment specialists, flat fee one off recruitment packages as well as high volume recruitment are available so a solution is available to best suit any company’s needs.

t: 08433 830 958 e: info@erecruitsolutions.com w: www.erecruitsolutions.co.uk

23/12/2014 21:30

classifieds Recruitment

Security

A leader in the field of graduate recruitment, offering solutions that work for both employers and graduates. Since 2000, GradWeb have established themselves as the leader of graduate recruitment in the UK. Working with some of the most well-known companies in the world, opportunities are available for graduates to take their first step on the business ladder in a role that suits their abilities. The close relationship built between the recruitment team, applicants and companies also ensures the right candidates are put forward for the job every time.

1st Ace Security is recognised as a leading security company and, for almost 30 years, this family run business has been providing expert security solutions for an array of businesses. With an experienced workforce of fully trained and qualified engineers, 1st Ace provide comprehensive security solutions including CCTV and intruder alarms as well as access control and security personnel. NACOS and NSI approved, 1st Ace Security have an unrivalled reputation for offering bespoke security solutions, utilising the latest technology and giving customers peace of mind and a protected property at all times.

As the leading supplier of fire and burglary prevention systems, Banham are one of London’s premier security companies. Since the company was established in 1926 they have installed a variety of CCTV, access control and door entry systems across the area as well as providing vital key holding, 24 hour monitoring and concierge services. With an unrivalled reputation for high quality products and exceptional customer service you can contact Banham’s directly on 020 7622 5151 and speak to a friendly professional adviser for any further information you need.

t: 01635 584130 e: info@gradweb.co.uk w: www.gradweb.co.uk

t: 020 8290 5050 e: sales@1stacesecurity.co.uk w: www.1stacesecurity.co.uk

t: 020 7622 5151 e: security@banham.com w: www.banham.co.uk

Supplying an extensive range of security products to protect your premises and offer increased peace of mind over safety. Security solutions available from GSM include access control to enable full control over who comes and goes from a property, CCTV which utilises the latest technology to always keep an eye on your premises, burglar alarms to add as a visual and noise deterrent plus many more security products. The specific services offered include keyholding and alarm response, so issues can be dealt with swiftly, as well as monitoring so you can feel confident that someone is always looking over your site, day and night.

Operating throughout Nottingham and surrounding areas, Mercury Fire and Security Ltd are a prominent face of the industry, offering reliable and effective fire safety and security products to businesses across the region. Services include the supply and installation of fire and smoke alarms as well as intruder alarms, CCTV and data cabling. The company also provides a 24 hour emergency service to customers, guaranteeing a four hour response for any systems maintained. Renowned for competitive prices and state of the art technology, Mercury offer a fast and efficient response and first class customer service.

Delivering effective security for commercial establishments including alarms, CCTV and more to keep premises protected. For over 30 years Security 201 have been supplying and installing a range of high quality security solutions across the Sussex area - working with small independents, large corporate organisations and everything in between. With an extensive range of CCTV systems, burglar alarms, access control systems as well as gates, grilles and shutters, Security 201 has everything you need to keep your business safe and secure.

t: 020 8374 7744 e: info@gsmsecurity.net w: www.gsmsecurity.net

t: 0800 0965644 e: enquiries@mercury-security.co.uk w: www.mercury-security.co.uk

t: 01903 242 902 e: admin@security201.co.uk w: www.security201.co.uk

Social Media

Providing confidential waste destruction and shredding services for all data, whether on paper or stored on magnetic media, hard drives or computers. As many businesses deal with sensitive data, TDS Safeguard provide a service to enable the disposal of documents according to the regulations set out in the Data Protection Act. TDS are experts in the destruction of files no matter what their form – be it paper based or digital copies. Whether you need a one-off collection or a regular service, TDS can work with you to meet the needs of your business.

t: 020 8211 9800 w: www.tdssafeguard.co.uk Website Consultancy

Wouldn’t it be great if you knew why visitors were leaving your website?

Why they weren’t contacting you, buying your products/services, downloading that free e-Book you wrote! If your website could do all that then marketing it would be a breeze, right? Well that’s possible. As a consultancy we don’t build websites, we review and identify problems with the one you already have to help support your marketing strategy. How awesome would that be, to turn your website so it not only attracted visitors but turned them into customers.

Karen Peters t: 020 3701 7843

e: info@therightsite.net w: www.therightsite.net

Classifieds Jan15.indd 3

Overwhelmed by the noise on social media? SOCIALSIFT cuts through the clutter and decodes the complex social media conversation. Decode the Noise t: 020 7202 7480 e: h.richards@socialsift.co.uk w: socialsift.co.uk

Telecommunications

Since 1986, Midland Telecom have grown and expanded into a highly reputable company providing specialist communication solutions for all types of businesses, from SMEs to blue-chip enterprises. The company supply, install and maintain market leading IP business telephone systems, business mobile contracts and hosted VOIP phone systems. Midland Telecom work alongside some of the biggest brands in the industry including Cisco, NEC, Unify and Panasonic. With a national support team, the company can design, manage and install leading communication solutions to a plethora of businesses on time and to budget.

t: 0800 652 5375 w: www.midlandtelecom.co.uk

Web Design

Specialists in website design, e-commerce websites, iOS UI design, CMS’s, branding and web app design for start-ups, SME’s and large corporations

Webwax provide a full ‘in-house’ service for web design, ecommerce, web hosting, search engine optimisation, ad-words, email campaigns, graphic design, virtual brochures, copy writing, social media and photography.

We create website design solutions from initial research & concepts through to development and build, working together with you to craft the perfect solution. With over 15 years experience working with clients such as Fujitsu, Geocel and more, we have the expertise you need.

With a wide range of clients both locally and globally, Webwax believe in providing a Return on Investment in the projects we involve ourselves in. Whether you are after a simple website with a few pages or a full blown e-commerce site, we can help.

t: 0845 3631162 e: info@kc-webdesign.co.uk w: kc-webdesign.co.uk

t: 07782 357686 e: info@webwax.co.uk w: www.webwax.co.uk

23/12/2014 21:31

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23/12/2014 20:57

the START-UP DIARies

New Year’s Resolutions Sarah McVittie, co-founder, Dressipi

Feeling fresh-faced upon its return from the Christmas holidays, Dressipi takes a look at the year ahead

Becoming the Mystic Meg of fashion recommendation

The next stage on from recommending clothes based on consumer data (which is what we do) is using that data to predict someone’s sense of style. We’ve already started doing this in-store in a small trial with a partner in London. Next year, however, we’re going to focus on our Dressipi recommendation software so that it collects and analyses the nuanced data that allows us to predict more accurately.

Goodbye Great Portland Street

We’ve been based in our little office just off Great Portland Street in London for nearly three years but now it’s time to move on. We’ve got our eye on new premises to house the growing team and plan to move in by May. We can’t say it will be quite as wacky or plush as Google’s offices but it will certainly be stylish.

dressipi.com

s you can imagine, everyone at Dressipi from our stylists to the tech team love an opportunity to dress up. That makes our Christmas party a big fun event for the company. Alongside the eating and drinking, we also have another tradition that has a more direct effect on the business. Each member of the team gets to make two forecasts for Dressipi for the next year. Some of these forecasts are just a bit of fun. For example, one of our team expressed their heartfelt wish for a colour printer and scanner for the office from Father Christmas. Most of them, however, are related to how we see the business developing over the next 12 months. As an example, one of our team confidently predicted that the number of Fashion Fingerprints would rise from over two million to five million in 2015. And in this way they could be seen as the beginnings of our New Year’s resolutions. As anybody knows who’s ever resolved on December 31 that this will be the year they take up yoga, resolutions are as easy to break as make. But we’re a business that has built itself on learning how the minds of human shoppers work, so we like to think we have a pretty good grasp on telling the difference between the hopeful and the achievable. So here are Dressipi’s New Year resolutions for 2015, which we promise – fingers crossed – to have ticked off successfully by this time next year.

Start-up diary.indd 1

Bringing those retailers home

We spent much of 2014 in hot pursuit of new retailers who we thought would benefit from a fashion recommendation service like ours. It was hard work but it was worth it, as our pipeline is now filled to bursting with prospective new Dressipi customers. And now the hard work really begins because we have to implement those projects and get to the magic number of 12 retail partners by the end of the year.

Consumed by consumers

One of the things we’ve had to focus less on over the last year or so while we’ve built our recommendation services for retailers is Dressipi’s own consumer service. This is definitely going to change this year, as we devote more of our own team’s time to bringing the nifty features and improvements to the user experience that we’ve developed for our retail partners to dressipi.com.

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